West Metro Q3 2019 Micro Market Report

MICROMARKET REPORT |

West Metro • Q3 2019

WEST METRO NEIGHBORHOODS

12 6 7

1

14

11 16

10 15 5

13

8

17 18

19

2 3 20 4

9

21 22

23

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 21. Solterra 22. Tamarisk 23. Green Mountain Village

Pictured on cover: 1980 Union Street

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WEST METRO market update There are 23 neighborhoods that make up the West Metro area. This part of Denver Metro has a healthy mix of city and suburban amenities without being too removed or being in the heart of downtown. West Metro offers its residents bountiful employment and recreational options, with a booming economy and outdoor activity options.

The West Metro Micro Market Report produced by LIV Sotheby’s International Realty analyzes the real estate market comparing results through Q3 of 2019 to the same time frame of 2018. Two neighborhoods within West Metro saw a major increase in listings sold. Alkire Estates and Canyon Point both experienced a 100% increase in homes sold through Q3 of this year.

These increases report two homes sold in Alkire Estates, compared to one in 2018, and six sold in Canyon Point, compared to three in 2018.

Homes in Sunrise Ridge sold much quicker than listings in other areas through Q3. This neighborhood’s average days on market for homes dropped by 55.2%, with listings staying on the market for an average of just 13 days.

The majority of neighborhoods in the West Metro area saw an increase in average price. Mesa View Estates saw the largest increase in price out of all 23 neighborhoods, rising by 27.7%. Homes in this region were priced on average at $993,000 through Q3 of this year compared to $777,333 through Q3 of

January-September 2019 Highlights: • Alkire Estates and Canyon Point increased the number of homes sold

100% in

• Sunrise Ridge’s average days on market is 13

55.2%

• Mesa View Estates’ average price is $993,000

27.7%

2018.

West Metro is continuing to grow in popularity with not only locals but homebuyers moving in from out-of-town and out-of-state. Overall, the real estate market in this area appears to be healthy with appealing qualities for those buying and those selling a home.

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 September Average Price

2018

$942,500

18.6%

$196

$228

16.1%

2

28

1300.0%

$795,000

$1,035,000

30.2%

1

2

100.0%

101.3%

98.1%

-3.1%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$795,000

Average Price per Square Foot

Highest Price

2019

13810 W 64th Drive, Alkire Estates

APPLEWOOD January through September

2018

Average Price

$604,250

$625,048

3.4%

$341

$337

-1.3%

27

30

11.1%

$1,595,000

$1,300,000

-18.5%

98

97

-1.0%

97.7%

96.7%

-1.0%

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

2019

% Change

3.4%

January through September 2019, the average price in the neighborhood of Applewood increased by 3.4% compared to that of 2018.

CANDELAS January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$581,120

$585,475

0.7%

$222

$232

4.4%

80

77

-3.8%

$1,046,590

$1,215,000

16.1%

106

132

24.5%

98.5%

97.5%

-1.0%

8244 Swadley Street, Candelas

coloradomicroreports.com

100%

The number of properties sold in the neighborhood of Canyon Point increased by 100% January through September 2019 compared to that of 2018.

CANYON POINT January through September Average Price

2018

$874,833

13.8%

$353

$348

-1.5%

3

24

700.0%

$965,000

$972,500

0.8%

3

6

100.0%

99.1%

98.4%

-0.7%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$768,667

Average Price per Square Foot

Highest Price

2019

EAGLE RIDGE January through September Average Price

2018

$715,543

-4.7%

$338

$326

-3.4%

18

39

116.7%

$939,000

$810,000

-13.7%

12

5

-58.3%

101.4%

97.8%

-3.5%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$751,208

Average Price per Square Foot

Highest Price

2019

FIELDSTONE January through September 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

$670,045

$695,662

3.8%

$220

$232

5.4%

23

24

4.3%

$805,000

$779,500

-3.2%

11

4

-63.6%

98.7%

97.9%

-0.8%

MICROMARKET REPORT | West Metro livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

VILLAGE OF FIVE PARKS January through September Average Price

2018

$610,344

5.1%

$223

$244

9.5%

19

15

-21.1%

$675,000

$795,000

17.8%

19

27

42.1%

99.5%

99.0%

-0.5%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$580,597

Average Price per Square Foot

Highest Price

2019

9.5%

The average price per square foot in the neighborhood Village of Five Parks, increased by 9.5% January through September 2019 compared to that of 2018.

GARDENS AT TABLE MOUNTAIN January through September Average Price

2018

$738,278

8.1%

$304

$310

2.1%

72

45

-37.5%

$745,000

$995,000

33.6%

5

9

80.0%

100.0%

98.0%

-2.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$682,885

Average Price per Square Foot

Highest Price

2019

15163 W 55th Drive, Gardens at Table Mountain

CITY OF GOLDEN PROPER January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$590,570

$622,336

5.4%

$380

$395

4.0%

22

28

27.3%

$1,125,000

$1,325,000

17.8%

133

140

5.3%

100.0%

98.7%

-1.3%

5.4%

The average price in Golden Incorporated increased by 5.4% January through September 2019 compared to that of 2018.

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GREEN MOUNTAIN VILLAGE January through September Average Price

2018

$469,561

4.2%

$308

$314

1.9%

14

18

28.6%

$605,250

$592,500

-2.1%

85

90

5.9%

99.6%

98.8%

-0.8%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$450,834

Average Price per Square Foot

Highest Price

2019

LEYDEN ROCK January through September Average Price

Leyden Rock is a neighborhood where you feel the peace of a rural community, while still having easy access to Boulder, downtown Denver and the mountains.

2018

$619,313

1.1%

$241

$238

-1.1%

75

80

6.7%

$1,004,076

$975,000

-2.9%

87

88

1.1%

98.4%

97.0%

-1.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$612,825

Average Price per Square Foot

Highest Price

2019

MESA MEADOWS January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$855,357

$871,000

1.8%

$361

$464

28.5%

17

11

-35.3%

$1,125,000

$1,285,000

14.2%

7

7

0.0%

97.2%

100.3%

3.2%

1106 N Jackson Street, Mesa Meadows

MICROMARKET REPORT | West Metro livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

MESA VIEW ESTATES January through September Average Price

2018

$993,000

27.7%

$235

$254

8.1%

82

54

-34.1%

$875,000

$1,150,000

31.4%

9

5

-44.4%

94.1%

94.5%

0.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$777,333

Average Price per Square Foot

Highest Price

2019

OAK PARK January through September Average Price

2018

$544,740

11.9%

$229

$269

17.7%

10

19

90.0%

$540,000

$635,000

17.6%

7

10

42.9%

97.7%

99.1%

1.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$486,714

Average Price per Square Foot

Highest Price

2019

11.9%

The average price for the neighborhood of Oak Park increased by 11.9% January through September 2019 compared to that of 2018.

RYAN RANCH January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$654,150

$714,750

9.3%

$242

$256

6.0%

18

11

-38.9%

$725,000

$750,000

3.4%

6

6

0.0%

99.5%

99.7%

0.2%

15170 W 62nd Way, Ryan Ranch

coloradomicroreports.com

SKYLINE ESTATES

7.8%

January through September

2018

Average Price

$548,200

$591,023

7.8%

$250

$242

-3.3%

14

20

42.9%

$600,000

$655,000

9.2%

10

13

30.0%

99.4%

100.0%

0.6%

Average Price per Square Foot Average Days on Market

The average price in the neighborhood of Skyline Estates increased by 7.8% January through September 2019 compared to that of 2018.

Highest Price Properties Sold % Sold Price to List Price

2019

% Change

SOLTERRA January through September Average Price

2018

$859,492

4.9%

$337

$343

1.8%

55

37

-32.7%

$2,225,000

$1,890,000

-15.1%

69

56

-18.8%

97.6%

97.7%

0.1%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$818,996

Average Price per Square Foot

Highest Price

2019

15574 W Baker Ave, Solterra

27.3%

The number of properties sold in the neighborhood of Spring Mesa increased by 27.3% January through September 2019 compared to that of 2018.

SPRING MESA January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$805,318

$823,893

2.3%

$282

$292

3.6%

9

22

144.4%

$887,000

$900,000

1.5%

11

14

27.3%

99.4%

99.1%

-0.3%

MICROMARKET REPORT | West Metro livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

SUNRISE RIDGE January through September Average Price

2018

$662,150

5.2%

$221

$268

21.1%

29

13

-55.2%

$679,500

$755,500

11.2%

7

13

85.7%

99.5%

100.0%

0.5%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$629,500

Average Price per Square Foot

Highest Price

2019

TABLE ROCK January through September Average Price

2018

$866,850

12.9%

$261

$284

8.9%

31

14

-54.8%

$975,000

$1,027,000

5.3%

15

10

-33.3%

98.4%

100.2%

1.9%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$768,060

Average Price per Square Foot

Highest Price

2019

12.9%

January through September 2019, the average price in the neighborhood of Table Rock increased by 12.9% compared to that of 2018.

TAMARISK January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$603,767

$762,525

26.3%

$261

$240

-8.0%

18

28

55.6%

$740,000

$907,500

22.6%

6

6

0.0%

100.1%

98.6%

-1.5%

coloradomicroreports.com

TRAIL VILLAGE January through September Average Price

Trail Village is set alongside Jefferson County Open Space, parks, trails and features stunning mountain views. This community is minutes to coffee shops and restaurants.

2018

$664,039

-24.6%

$272

$253

-6.9%

24

53

120.8%

$1,825,000

$915,000

-49.9%

11

4

-63.6%

101.0%

100.5%

-0.5%

Average Days on Market

Properties Sold % Sold Price to List Price

3.3%

January through September 2019, the average price per square foot in the neighborhood of West Woods increased by 3.3% compared to that of 2018.

NUMBER OF DAYS OF SUNSHINE: 300

% Change

$881,041

Average Price per Square Foot

Highest Price

2019

WEST WOODS January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

NUMBER OF CRAFT BREWERIES IN GOLDEN: 7

2018

2019

% Change

$697,789

$651,515

-6.6%

$265

$274

3.3%

21

33

57.1%

$1,825,000

$1,230,000

-32.6%

61

50

-18.0%

99.5%

98.4%

-1.1%

DESIGNATED ACRES FOR PARKS IN ARVADA: 3,400 MICROMARKET REPORT | West Metro 2019 • COLORADOMICROREPORTS.COM

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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.