MICROMARKET REPORT |
West Metro • 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: 15915 West 54th Avenue, Golden
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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 20 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 of all ages 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 by LIV Sotheby’s International Realty analyzes the real estate market comparing results from 2018 to 2017. All neighborhoods within West Metro indicate a strong and healthy market and the majority show impressive results with an increase of average price and properties sold, combined with a decrease of average days on market. Gardens at Table Mountain performed exceptionally well with a 15.9% increase in average price per square foot and a 63.9% decrease in average days on market. Another high-performing neighborhood was Mesa Meadows, showing a
January-December 2018 Highlights: • Golden’s average price is $618,318
21.8%
• Leydon Rock’s average price is $620,412
13.8%
• Mesa Meadows’ average price is $855,357
14.1%
• Trail Village’s average price is $848,454
32.4%
14.1% increase in average price and a 43.3% decrease in average days on market. Trail Village reported the highest increase in average price of 32.4% from $641,067 in 2017 to $848,454 in 2018. Canyon Point also increased a significant 26.8% in average price from $761,113 in 2017 to $809,000 in 2018. Ryan Ranch presented an extraordinary 81.8% decrease in days on market from 99 in 2017, to just 18 days in 2018. The West Metro area includes diverse neighborhoods that provide different results for the real estate market. Overall, buyers interested in the West Metro area should be expected to make quick purchasing decisions. Sellers should expect fair-priced offers with competitive time frames.
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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 December
2017
Average Price
$870,000
$795,000
-8.6%
$295
$196
-33.5%
80
2
-97.5%
$870,000
$795,000
-8.6%
1
1
0.0%
95.1%
101.27%
6.5%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
13436 West 22nd Place, Applewood
APPLEWOOD January through December Average Price
2017
$600,512
6.6%
$304
$334
9.8%
30
32
6.7%
$1,760,000
$1,595,000
-9.4%
138
130
-5.8%
96.4%
96.62%
0.2%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$563,257
Average Price per Square Foot
Highest Price
2018
9.8%
January through December, 2018, the average price per square foot in the neighborhood of Applewood increased by 9.8% compared to that of 2017.
CANDELAS January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$555,416
$581,449
4.7%
$209
$143
-31.3%
133
78
-41.4%
$1,099,900
$1,050,000
-4.5%
97
127
30.9%
97.4%
98.0%
0.7%
15739 West 95th Place, Candelas
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CANYON POINT January through December Average Price
Canyon Point is located just north of Golden near many restaurants and shops, and boasts sweeping views of Colorado’s foothills.
2017
$809,000
26.8%
$287
$342
19.5%
14
3
-78.6%
$866,900
$965,000
11.3%
8
6
-25.0%
99.7%
100.16%
0.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$761,113
Average Price per Square Foot
Highest Price
2018
EAGLE RIDGE January through December Average Price
2017
$765,964
10.1%
$286
$209
-26.9%
38
17
-55.3%
$947,940
$939,000
-0.9%
10
8
-20.0%
98.8%
101.39%
2.6%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$695,394
Average Price per Square Foot
Highest Price
2018
525 Crawford Street, Eagle Ridge
FIELDSTONE January through December 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
2017
2018
% Change
$659,023
$660,141
0.2%
$214
$230
8.0%
13
30
130.8%
$753,203
$805,000
6.9%
9
17
88.9%
99.6%
98.12%
-1.5%
MICROMARKET REPORT | West Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
VILLAGE OF FIVE PARKS January through December Average Price
2017
$574,775
6.2%
$213
$226
6.3%
32
21
-34.4%
$710,000
$675,000
-4.9%
32
25
-21.9%
98.2%
99.14%
0.9%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$541,150
Average Price per Square Foot
Highest Price
2018
9598 Juniper Way, Village of Five Parks
GARDENS AT TABLE MOUNTAIN January through December Average Price
2017
$679,628
7.6%
$257
$297
15.9%
133
48
-63.9%
$861,498
$745,000
-13.5%
8
9
12.5%
97.8%
98.83%
1.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$631,883
Average Price per Square Foot
Highest Price
2018
15.9%
The average price in the neighborhood of The Gardens at Table Mountain increased by 15.9% January through December, 2018 compared to that of 2017.
CITY OF GOLDEN PROPER January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$507,616
$618,318
21.8%
$386
$383
-0.8%
18
17
-5.6%
$735,000
$870,000
18.4%
19
14
-26.3%
100.19%
100.62%
0.4%
Golden is conveniently located near I-70, offering quick access to both metro Denver and Colorado’s world-class ski resorts.
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LEYDEN ROCK 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.
January through December
2017
Average Price
$544,966
$620,412
13.8%
$226
$242
7.5%
99
62
-37.4%
$900,000
$1,004,076
11.6%
110
105
-4.5%
97.7%
98.80%
1.1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
14.1%
January through December, 2018, the average price in the neighborhood of Mesa Meadows increased by 14.1% compared to that of 2017.
2018
% Change
MESA MEADOWS January through December Average Price
2017
$855,357
14.1%
$400
$360
-9.7%
30
17
-43.3%
$885,000
$1,125,000
27.1%
6
5
-16.7%
96.2%
97.17%
1.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$749,771
Average Price per Square Foot
Highest Price
2018
MESA VIEW ESTATES January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$669,852
$758,250
13.2%
$242
$242
0.5%
38
106
178.9%
$850,000
$888,000
4.5%
23
22
-4.3%
97.6%
94.69%
-3.0%
MICROMARKET REPORT | West Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
OAK PARK January through December
2017
Average Price
$563,200
$495,875
-12.0%
$248
$233
-6.2%
11
8
-27.3%
$849,000
$560,000
-34.0%
5
8
60.0%
98.5%
97.66%
-0.8%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
RYAN RANCH January through December Average Price
2017
% Change
$619,200
$654,150
5.6%
$207
$241
16.5%
99
18
-81.8%
$637,000
$725,000
13.8%
5
6
20.0%
96.6%
99.52%
3.0%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
16.5%
The average price per square foot for the neighborhood of Ryan Ranch increased by 16.5% January through December, 2018 compared to that of 2017.
SKYLINE ESTATES January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$535,681
$554,279
3.5%
$226
$248
9.7%
27
13
-51.9%
$575,000
$610,000
6.1%
18
14
-22.2%
97.9%
99.23%
1.3%
6152 Field Street, Skyline Estates
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72.9%
January through December, 2018, the days on market in the neighborhood of Spring Mesa decreased by 72.9% compared to that of 2017.
SPRING MESA January through December Average Price
2017
$813,208
1.3%
$233
$288
23.7%
48
13
-72.9%
$930,000
$900,000
-3.2%
12
12
0.0%
97.4%
99.13%
1.7%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$802,792
Average Price per Square Foot
Highest Price
2018
SUNRISE RIDGE January through December Average Price
2017
$638,389
9.1%
$230
$261
13.3%
20
28
40.0%
$712,000
$700,000
-1.7%
22
8
-63.6%
98.1%
99.24%
1.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$585,075
Average Price per Square Foot
Highest Price
2018
19721 West 59th Avenue, Tablerock
TABLEROCK January through December 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
2017
2018
% Change
$747,400
$752,848
0.7%
$265
$268
1.1%
36
24
-33.3%
$880,000
$1,000,000
13.6%
17
16
-5.9%
97.3%
98.75%
1.5%
MICROMARKET REPORT | West Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
TRAIL VILLAGE January through September Average Price
2017
% Change
$641,067
$848,454
32.4%
$232
$264.02
13.9%
28
22
-21.4%
$1,340,000
$1,825,000
36.2%
7
11
57.1%
97.1%
100.77%
3.8%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
32.4%
January through December, 2018, the average price in the neighborhood of Trail Village increased by 32.4% compared to that of 2017.
WEST WOODS January through September Average Price
2017
% Change
$607,004
$663,670
9.3%
$244
$264.02
8.1%
29
23
-20.7%
$1,340,000
$875,000
-34.7%
84
40
-52.4%
98.5%
99.07%
0.5%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
NUMBER OF DAYS OF SUNSHINE: 300
NUMBER OF CRAFT BREWERIES IN GOLDEN: 8
DESIGNATED ACRES FOR PARKS IN ARVADA: 3,400
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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.