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.
coloradomicroreports.com
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.