Q1 2021
Micro Market Report WEST METRO
6550 Deframe Court
9885 W 73rd Place
West Metro MARKET UPDATE
Living on the west side of Denver offers many perks that just don’t compare to other Metro areas. Nestled along the Foothills, West Metro has an abundance of open space and trails, while still being a short distance to the bustling Denver center. Real estate throughout the state of Colorado is showing spikes in performance through Q1 of this year, but it’s clear that West Metro is welcoming an abundance of buyers, setting new levels of activity in the market. With home preferences shifting and focusing on more space and access to recreation, West Metro is the perfect home for many buyers. LIV Sotheby’s International Realty produces a Micro Market Report focused on the West Metro market and the Q1 2021 performance compared to the same timeframe of 2020. The report shows a clear rise in demand, with a 15.3% increase in the average price met with a dramatic 46.9% decrease in the average days on market. This competition for homes was most likely driven by the 15.8% drop in the number of new listings, with 2,434 new listings on the market so far this year compared to 2,892 in Q1 of 2020. Looking at each of the 24 communities defined in this report, all areas with sales showed an increase in the average price except for Tablerock. Tablerock’s drop in average price is an opportunity for buyers to claim their home in the area, with an expected average price of $710,000 this year. The desirable area of Applewood showed one of the highest increases in average price, with a rise of 38.3%, bringing the average price to $844,712 this year.
Most notably, Green Mountain Village dropped a substantial 92% to just two average days on market. Sunrise Ridge showed a similar decrease of 97.6% comparing this year to 2020, resulting in just three days a home stayed on the market in Q1. These areas are hotspots for those looking to invest in the West Metro area. For buyers, Solterra showed the smallest decrease in average days on market of 2.3%, allowing for an average of 43 days to make a home buying decision. The West Metro is clearly a popular location for buyers, driving demand and resulting in rewards for sellers. Buyers still do have opportunities to make investments in many areas, with an expectation to act quickly when you find that perfect home for your next chapter.
JEFFERSON COUNTY January through March
2020
2021
% Change
New Listings
2,892
2,434
-15.8%
Sold Listings (all properties)
2,162
2,072
-4.2%
Average Price (all Properties)
$489,104
$563,770
15.3%
Average Price (single family)
$563,192
$657,800
16.8%
32
17
-46.9%
99.8%
102.1%
2.3%
$1,057,442,508
$1,168,131,098
10.5%
Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold
Increases in average price were also met with considerable decreases in the average days on market for most areas.
Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2021 - March 31, 2021. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.
coloradomicroreports.com
WEST METRO NEIGHBORHOODS
1. Alkire Estates
7. Village of Five Parks
2. Applewood
8. City of Golden Proper
3. Arvada
9. Green Mountain Village
14. Oak Park
20. Table Rock
4. Candelas (arrow up)
10. Leyden Rock
15. Ryan Ranch
21. Tamarisk
5. Canyon Point
11. Mesa Meadows
16. Skyline Estates
22. Trail Village
6. Eagle Ridge
12. Mesa View Estates
17. Solterra
23. Westwoods
13. North Table Mountain Village
4
18. Spring Mesa 19. Sunrise Ridge
7
10
1 14
18 23
22
19 20
3
15
13
16
11 5
8 2
6 12
9 17 21
MICROMARKET REPORT | West Metro livsothebysrealty.com
JANUARY - MARCH 2021 • COLORADOMICROREPORTS.COM
ALKIRE ESTATES ARVADA
APPLEWOOD
Alkire Estates offers custom homes on larger lots, typically around one-half acre and up. Residents love Alkire Estates because of the vast green open space as well as nearby Standley Lake and Standley Lake State Park.
January through March
2020
2021
% Change
Average Price
-
$1,342,500
-
Average Price per Square Foot
-
$354
-
Average Days on Market
-
29
-
Highest Price
-
$1,385,000
-
No Sales
2
-
% Sold Price to List Price
-
95.1%
-
January through March
2020
2021
% Change
$610,638
$844,712
38.3%
$349
$398
14.0%
31
18
-41.9%
$1,037,500
$2,700,000
160.2%
20
20
0.0%
98.6%
101.5%
2.9%
2020
2021
% Change
$471,394
$539,224
14.4%
$289
$341
18.1%
30
12
-60.0%
$1,198,330
$2,075,000
73.2%
518
546
5.4%
99.3%
103.4%
4.2%
Properties Sold
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
18.1% The average price per square foot in Arvada increased by 18.1% January through March 2021 compared to that of 2020.
January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
% Change
$637,851
$711,127
11.5%
$226
$276
22.5%
68
25
-63.2%
63.2%
$929,909
$1,000,000
7.5%
The average days on market in Candelas
32
20
-37.5%
decreased by 63.2% January through
% Sold Price to List Price
98.9%
99.8%
0.9%
January through March
2020
2021
% Change
$742,250
$1,115,000
50.2%
$376
$409
8.7%
8
5
-37.5%
$769,500
$1,115,000
44.9%
2
1
-50.0%
104.3%
101.4%
-2.8%
2020
2021
% Change
$719,000
$1,001,333
39.3%
$439
$411
-6.3%
2
4
100.0%
84.3%
$719,000
$1,325,000
84.3%
The highest price in the neighborhood of
1
3
200.0%
104.4%
106.5%
2.0%
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
Eagle Ridge increased by 84.3% January through March 2021 compared to that of 2020.
EAGLE RIDGE
January through March
CANYON POINT
Average Price
March 2021 compared to that of 2020.
CANDELAS
2020
January through March
VILLAGE OF FIVE PARKS CITY OF GOLDEN PROPER GREEN MOUNTAIN VILLAGE
January through March
2020
2021
% Change
$617,186
-
-
$231
-
-
25
-
-
$653,000
-
-
7
No Sales
-
% Sold Price to List Price
98.5%
-
-
January through March
2020
2021
% Change
$650,225
$687,562
5.7%
$383
$446
16.5%
39
19
-51.3%
$1,050,000
$1,520,000
44.8%
32
35
9.4%
98.5%
100.1%
1.7%
2020
2021
% Change
$462,833
$542,773
17.3%
$304
$408
34.3%
25
2
-92.0%
$605,000
$685,000
13.2%
18
22
22.2%
99.21%
105.8%
6.7%
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold
44.8%
Average Price Average Price per Square Foot Average Days on Market
The highest price in the City of Golden
Highest Price
Proper increased by 44.8% January
Properties Sold
through March 2021 compared to that of 2020.
92.0% The average days on market in Green Mountain Village decreased by 92.0% January through March 2021 compared to that of 2020.
% Sold Price to List Price
January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
23.6%
2020
2021
% Change
$618,953
$765,141
23.6%
$252
$301
19.3%
48
10
-79.2%
The average price in the neighborhood
$870,000
$1,125,000
29.3%
of Leyden Rock increased by 23.6%
26
27
3.8%
January through March 2021 compared
% Sold Price to List Price
97.4%
102.0%
4.8%
January through March
2020
2021
% Change
$888,000
-
-
$442
-
-
27
-
-
$1,050,000
-
-
3
No Sales
-
96.1%
-
-
2020
2021
% Change
$844,999
$952,500
12.7%
$249
$290
16.6%
40
12
-70.0%
$938,888
$1,150,000
22.5%
3
4
33.3%
97.3%
98.9%
1.7%
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
70.0% The average days on market in the neighborhood of Mesa View Estates decreased by 70.0% January through March 2021 compared to that of 2020.
MESA VIEW ESTATES
January through March
MESA MEADOWS
Average Price
to that of 2020.
LEYDEN ROCK
January through March
RYAN RANCH
January through March
2020
2021
% Change
$711,000
-
-
$283
-
-
3
-
-
$711,000
-
-
1
No Sales
-
% Sold Price to List Price
105.3%
-
-
January through March
2020
2021
% Change
$545,000
-
-
$273
-
-
21
-
-
$575,000
-
-
2
No Sales
-
99.0%
-
-
2020
2021
% Change
Average Price
-
$815,000
-
Average Price per Square Foot
-
$266
-
Average Days on Market
-
9
-
Highest Price
-
$815,000
-
No Sales
1
-
-
95.9%
-
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold
Average Price
OAK PARK
NORTH TABLE MOUNTAIN VILLAGE
North Table Mountain Village, a subdivision in the town of Golden, is made up of about 140 single-family homes surrounded by plenty of parks. Nearby lies the picturesque Shiloh Farms Equestrian Center, perfect for horse enthusiasts.
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
Ryan Ranch is a subdivision in Golden, surrounded by parks and within close proximity to the popular Long Lake Regional Park as well as the Shiloh Farms Equestrian Center and The West Wood Golf Club.
January through March
Properties Sold % Sold Price to List Price
22.0%
2021
% Change
$601,000
$733,500
22.0%
$255
$272
6.6%
8
4
-50.0%
$601,000
$782,500
30.2%
1
2
100.0%
% Sold Price to List Price
97.7%
103.6%
6.0%
January through March
2020
2021
% Change
$844,083
$960,458
13.8%
$376
$378
0.5%
44
43
-2.3%
41.7%
$1,200,000
$1,434,600
19.6%
The number of properties sold in the
12
17
41.7%
neighborhood
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
average
neighborhoood
average of
price
Skyline
in
the
Estates
increased by 22.0% January through
of
Solterra
increased
by 41.7% January through March 2021
98.6%
100.3%
1.7%
2020
2021
% Change
$936,000
$1,125,000
20.2%
$240
$371
54.5%
5
11
120.0%
54.5%
$936,000
$1,295,000
38.4%
The average price per square foot in
1
2
100.0%
Spring Mesa increased by 54.5% January
101.2%
102.2%
1.0%
compared to that of 2020.
through March 2021 compared to that of 2020.
SPRING MESA
January through March
The
SOLTERRA
2020
SKYLINE ESTATES
January through March
SUNRISE RIDGE
January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$725,833
$773,129
6.5%
$301
$312
3.6%
124
3
-97.6%
$760,000
$852,500
12.2%
3
4
33.3%
94.5%
104.4%
10.5%
TAMARISK
TABLEROCK
T
Tablerock offers ranch-style and two-story residences at the base of Table Rock Mountain and north of downtown Golden. Tablerock offers residents close access to many hiking trails.
Tamarisk is located in south Green Mountain, a Lakewood suburb. Tamarisk offers close proximity to some of Colorado’s best amenities, including Red Rocks Amphitheater, Bear Creek Lake Park, Dinosaur Ridge Park, and Morrison.
January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$828,000
$710,000
-14.3%
$312
$323
3.5%
2
0
-100.0%
$828,000
$710,000
-14.3%
1
1
0.0%
99.8%
101.4%
1.7%
2020
2021
% Change
$779,975
-
-
$232
-
-
13
-
-
$799,950
-
-
1
No Sales
-
97.5%
-
-
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$747,750
-
-
$259
-
-
40
-
-
$940,000
-
-
2
No Sales
-
98.5%
-
-
2020
2021
% Change
$631,211
$694,900
10.1%
$283
$322
13.9%
29
5
-82.8%
$740,000
$912,000
23.2%
9
5
-44.4%
99.9%
102.5%
2.6%
TRAIL VILLAGE
January through March
TABLEROCK
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
82.8% The average days on market in the neighborhood of Westwoods decreased by 82.8% January through March 2021 compared to that of 2020.
WEST WOODS
January through March
MICROMARKET REPORT | West Metro JANUARY - MARCH 2021 • COLORADOMICROREPORTS.COM