West Metro Q1 2019 Micro Market Report

MICROMARKET REPORT |

West Metro • Quarter 1 2019

WEST METRO NEIGHBORHOODS

12 6 7

1

14

11 16

10 15 5

13

8 19

17 18

2 3 20 4

9

1. Canyon Point 2. Mesa Meadows 3. Golden Incorporated 4. Eagle Ridge 5. Table Rock 6. Spring Mesa 7. Trail Village 8. Fieldstone 9. Mesa View Estates 10. Sunrise Ridge 11. West Woods 12. Village of Five Parks 13. Candelas 14. Leyden Rock 15. Ryan Ranch 16. Alkire Estates 17. Oak Park 18. Skyline Estates 19. Gardens at Table Mountain 20. Applewood

Pictured on cover: 9598 Juniper Way, Arvada.

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WEST METRO market update Located just west of Denver’s bustling city center, but not as far as the Foothills, are the West Metro neighborhoods. These 21 neighborhoods offer a mix of urban and rural lifestyle, with close proximity to the activities of Denver without being in the heart of the city.

Recreational activities and employment opportunities are two of the many reasons that families and individuals find the West Metro an attractive location to call home.

Specifically, for employment opportunities, the West Metro houses corporations with a focus in aerospace, aviation, bioscience, and energy.

The West Metro Micro Market Report produced by LIV Sotheby’s International Realty analyzes the real estate market comparing results from Q1 of 2019 to Q1 of 2018.

Highlights for the West Metro include an impressive 89.7% increase in the number of properties sold in Golden to 55 properties in Q1 of 2019, from 29 properties in Q1 of 2018. Another noteworthy statistic is the number of days properties sold in Spring Mesa, down to just six days on average in 2019 – a 45.5% decrease from 11 days in 2018.

Across the board, many neighborhoods saw significant increases in average price including a 30.3% increase in average price for Skyline Estates, a 29.7% increase for Table Rock, and a 23.8% increase in West Woods – to name a few.

January-March 2019 Highlights: • Golden’s number of properties sold increased to 55 in 2019

89.7%

• Leydon Rock’s average price is $667,649

15.0%

• Spring Mesa’s average days on market, down to 6 from 11 in 2018

45.5%

• Skyline Estates’ average price is $592,450

30.3%

The West Metro area includes diverse neighborhoods that result in a variety of performance for real estate. Overall, buyers interested in West Metro should be expected to make quick purchasing decisions and sellers should expect fair-priced offers with competitive time frames.

livsothebysrealty.com

Based on Information from REColorado. This representation is based in whole or in part on data supplied by REColorado. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.

MICROMARKET REPORT | West Metro 2019 • COLORADOMICROREPORTS.COM

ALKIRE ESTATES January through March

2018

2019

% Change

Average Price

$0

$0

0.0%

Average Price per Square Foot

$0

$0

0.0%

0

0

0.0%

$0

$0

0.0%

0

0

0.0%

0.0%

0.0%

0.0%

Average Days on Market Highest Price Properties Sold % Sold Price to List Price

APPLEWOOD January through March

Average Price

2018

$584,038

12.3%

$306

$311

1.7%

36

45

25.0%

$915,000

$927,000

1.3%

20

24

20.0%

97.0%

93.9%

-3.2%

Average Days on Market

Properties Sold % Sold Price to List Price

20%

% Change

$520,214

Average Price per Square Foot

Highest Price

2019

January through March, 2019, properties sold in the neighborhood of Applewood increased by 20% compared to that of 2018.

CANDELAS January through March

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$557,266

$574,788

3.1%

$216

$151

-30.2%

108

79

-26.9%

$749,095

$830,000

10.8%

31

31

0.0%

98.4%

97.8%

-0.6%

598 Juniper Way, Candelas

coloradomicroreports.com

CANYON POINT Canyon Point is located just north of Golden near many restaurants and shops, and boasts sweeping views of Colorado’s foothills.

January through March

2018

Average Price

$965,000

$0

-100.0%

$382

$0

-100.0%

2

0

-100.0%

$965,000

$0

-100.0%

1

0

-100.0%

98.6%

0.0%

-100.0%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

% Change

EAGLE RIDGE January through March

Average Price

2018

$0

-100.0%

$310

$0

-100.0%

60

0

-100.0%

$875,000

$0

-100.0%

3

0

-100.0%

99.0%

0.0%

-100.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$819,167

Average Price per Square Foot

Highest Price

2019

FIELDSTONE January through March

Average Price

Fieldstone is a family-friendly community within Arvada that borders Long Lake Regional Park, offering residents easy access to many recreational trails.

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$610,250

$663,199

8.7%

$227

$189

-16.8%

77

41

-46.8%

$692,500

$663,199

-4.2%

2

1

-50.0%

96.1%

96.1%

0.0%

MICROMARKET REPORT | West Metro livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

VILLAGE OF FIVE PARKS January through March

Average Price

2018

$538,833

-5.4%

$235

$250

6.4%

19

18

-5.3%

$660,000

$631,000

-4.4%

7

6

-14.3%

99.9%

97.9%

-2.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$569,779

Average Price per Square Foot

Highest Price

2019

6.4%

The average price per square foot in the neighborhood of Village of Five Parks increased by 6.4% January through March 2019 compared to that of 2018.

GARDENS AT TABLE MOUNTAIN January through March

Average Price

2018

$0

-100.0%

$274

$0

-100.0%

11

0

-100.0%

$718,962

$0

-100.0%

2

0

-100.0%

99.1%

0.0%

-100.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$680,981

Average Price per Square Foot

Highest Price

2019

15915 W 54th Ave, Gardens at Table Mountain

CITY OF GOLDEN PROPER January through March

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$595,431

$617,403

3.7%

$386

$402

4.3%

34

37

8.8%

$965,000

$1,175,000

21.8%

29

55

89.7%

100.0%

97.4%

-2.6%

89.7%

The number of properties sold in the City of Golden Proper increased by 89.7% January through March 2019 compared to that of 2018.

coloradomicroreports.com

LEYDEN ROCK January through March

Leyden Rock was created to be sensitive to the unique beauty of the area; including conserving the landforms, protecting the Barbara Gulch Open Space, and maximizing access to the rural landscape.

Average Price

2018

$667,649

15.0%

$224

$241

7.4%

103

143

38.8%

$968,000

$975,000

0.7%

27

18

-33.3%

98.2%

95.3%

-2.9%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$580,626

Average Price per Square Foot

Highest Price

2019

MESA MEADOWS January through March

Average Price

2018

$695,000

-14.7%

$315

$492

56.3%

30

4

-86.7%

$930,000

$715,000

-23.1%

3

2

-33.3%

96.6%

102.1%

5.7%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$815,167

Average Price per Square Foot

Highest Price

2019

3939 Easley Road, Mesa Meadows

25.2%

January through March 2019, the average price in the neighborhood of Mesa View Estates increased by 25.2% compared to that of 2018.

MESA VIEW ESTATES January through March

2018

Average Price

$704,000

$881,250

25.2%

$235

$271

15.3%

163

43

-73.6%

$820,000

$1,150,000

40.2%

5

6

20.0%

93.8%

98.6%

5.1%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

% Change

MICROMARKET REPORT | West Metro livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

OAK PARK January through March

2018

Average Price

$482,400

$549,950

14.0%

$219

$243

10.7%

13

24

84.6%

$540,000

$620,400

14.9%

5

2

-60.0%

96.1%

96.8%

0.7%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

% Change

RYAN RANCH January through March

Average Price

2018

% Change

$615,000

$679,750

10.5%

$248

$248

0.0%

38

22

-42.1%

$640,000

$699,500

9.3%

2

2

0.0%

98.4%

97.8%

-0.6%

Average Price per Square Foot Average Days on Market Highest Price

2019

Properties Sold % Sold Price to List Price

9.3%

The highest price for the neighborhood of Ryan Ranch increased by 9.3% January through March 2019 compared to that of 2018.

SKYLINE ESTATES January through March

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$454,625

$592,450

30.3%

$242

$247

1.9%

23

27

17.4%

$565,000

$655,000

15.9%

4

4

0.0%

100.1%

100.0%

-0.1%

6081 Robb Street, Skyline Estates

coloradomicroreports.com

45.5%

January through March, 2019, the days on market in the neighborhood of Spring Mesa decreased by 45.5% compared to that of 2018.

SPRING MESA January through March

Average Price

2018

$842,500

6.4%

$253

$300

18.9%

11

6

-45.5%

$820,000

$890,000

8.5%

4

4

0.0%

99.1%

99.7%

0.7%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$792,000

Average Price per Square Foot

Highest Price

2019

SUNRISE RIDGE January through March

2018

Average Price

$636,000

$675,000

6.1%

$228

$227

-0.4%

15

31

106.7%

$636,000

$725,000

14.0%

1

2

100.0%

97.9%

100.0%

2.2%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

% Change

TABLEROCK January through March

Average Price

Tablerock is a newly developed community, offering ranch-style and two-story residences at the base of Table Rock Mountain.

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$758,333

$983,500

29.7%

$238

$270

13.3%

86

7

-91.9%

$785,000

$1,027,000

30.8%

3

2

-33.3%

96.8%

100.8%

4.2%

MICROMARKET REPORT | West Metro livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

TRAIL VILLAGE January through March

Average Price

2018

$0

-100.0%

$271

$0

-100.0%

35

0

-100.0%

$960,000

$0

-100.0%

3

0

-100.0%

101.9%

0.0%

-100.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$676,650

Average Price per Square Foot

Highest Price

2019

WEST WOODS January through March

Average Price

2018

$740,100

23.8%

$262

$291

11.1%

24

32

33.3%

$960,000

$915,500

-4.6%

11

5

-54.5%

99.9%

99.4%

-0.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$597,750

Average Price per Square Foot

Highest Price

2019

23.8%

January through March, 2019, the average price in the neighborhood of West Woods increased by 23.8% compared to that of 2018.

WEST WOODS RANCH January through March

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$597,700

$585,000

-2.1%

$223

$239

7.3%

28

33

17.9%

$710,800

$585,000

-17.7%

4

1

-75.0%

100.1%

90.1%

-9.9%

coloradomicroreports.com

WE ARE.

THE VOICE OF COLORADO REAL ESTATE

15739 West 95th Place, Arvada

23

400 72

990

23,500

1

Exceptional Brand

The life you love.

livsothebysrealty.com | coloradomicroreports.com Based on Information from REColorado. This representation is based in whole or in part on data supplied by REColorado. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.