MICROMARKET REPORT
WEST METRO | Q3 2020
WEST METRO
NEIGHBORHOODS 1. Alkire Estates
4
2. Applewood
8
11
3. Arvada
1
15
19
4. Candelas (arrow up) 5. Canyon Point 23
6. Eagle Ridge 7. Fieldstone
24 7 20 16
8. Village of Five Parks 21
9. City of Golden Proper
3 17
14
10. Green Mountain Village 11. Leyden Rock 12
12. Mesa Meadows 13. Mesa View Estates
5
9
14. North Table Mountain Village
2
15. Oak Park 16. Ryan Ranch 17. Skyline Estates 18. Solterra 19. Spring Mesa
6 13
20. Sunrise Ridge 21. Table Rock 10
22. Tamarisk 23. Trail Village
18
24. Westwoods 22 Pictured on cover: 11362 West Baltic Court, Lakewood
coloradomicroreports.com
WEST METRO MARKET UPDATE Denver’s West Metro community is made up of 24 neighborhoods within Jefferson County that enjoy a relaxed suburban lifestyle with the advantage of being close to the mountains. Here you’ll find miles of biking and walking trails, local craft and big-name breweries, open spaces, and the kind of charm you can only find in close-knit communities. The far-reaching views of the Front Range and master-planned neighborhoods, many of which have resort-like amenities, make this a desirable area to buy and sell homes. The West Metro Micro Market Report produced by LIV Sotheby’s International Realty analyzes the real estate market comparing January through September of 2020 to the same time frame of 2019. Increased demand for homes in the West Metro community led to a 10.7% increase in total dollar volume sold through Q3. Throughout this year, many buyers have found their dream homes in this collection of neighborhoods, increasing the number of sold properties by 3.5%, from 7,860 homes sold in 2019 to 8,136 homes sold so far in 2020. Average home prices in West Metro have also climbed since January through September of 2019, rising by 7% which brings the average price of homes in this community to $511,671. Several neighborhoods within West Metro have seen significant increases in the number of properties sold so far this year. One of the most drastic increases was observed in North Table Mountain Village where there were 11 homes sold through September, a 266.7% rise compared to the same time frame last year. Mesa Meadows and Fieldstone also saw an uptick in home sales, growing by 28.6% and 150% respectively. Due to the increased buying activity and relatively low inventory of available homes in West Metro, home prices in many neighborhoods have risen. In Eagle Ridge, the average price of a home grew from $715,543 through Q3 in 2019 to $964,667 during the same time frame this year, a 34.8% increase. Properties in the City of Golden also saw a 7.4% increase in average price, which brought the average home price to $668,490.
JEFFERSON COUNTY January through September
2019
2020
% Change
10,048
9,643
-4.0%
7,860
8,136
3.5%
Average Price (All Properties)
$478,261
$511,671
7.0%
Average Price (Single Family)
$537,592
$578,511
7.6%
25
23
-8.0%
99.4%
100.0%
0.6%
$3,759,132,009
$4,162,957,346
10.7%
New Listings Sold Listings (All Properties)
Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold
Eager consumers have purchased homes quickly this year, causing a decrease in the average days on market for homes in select neighborhoods. Homes in the Leyden Rock neighborhood remained on the market for 56.3% less time than last year, dropping from an average of 80 days on market to an average of 35 days on market. Westwoods, an area popular for its country club lifestyle, saw a 44% decrease in days on market. Homes in this neighborhood were on the market for an average of 14 days through September of this year. The alure of space and scenic views is enough to make any buyer want to purchase a home in West Metro. As more people make the decision to move into the West Metro neighborhoods, the area’s real estate market will continue to produce positive results.
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 livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
18.4%
The highest price in the neighborhood of Alkire Estates increased by 18.4% January through September 2020 compared to that of 2019.
ALKIRE ESTATES January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$942,500
$1,165,000
23.6%
$228
$328
44.0%
28
46
64.3%
$1,035,000
$1,225,000
18.4%
2
3
50.0%
98.1%
92.0%
-6.3%
APPLEWOOD January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$625,048
$692,475
10.8%
$337
$383
13.8%
30
20
-33.3%
$1,300,000
$3,275,000
151.9%
97
104
7.2%
96.7%
99.8%
3.2%
12432 W 16th Drive, Lakewood
ARVADA January through September
Northwest of Denver,
Average Price
Arvada holds the spot as
Average Price per Square Foot
Colorado’s 8th largest city,
Average Days on Market
while still boasting small-
Highest Price
town charm.
Properties Sold % Sold Price to List Price
2019
2020
% Change
$462,702
$490,820
6.1%
$282
$300
6.4%
26
21
-19.2%
$1,230,000
$1,490,000
21.1%
2,045
2,043
-0.1%
98.4%
100.5%
2.2%
coloradomicroreports.com
CANDELAS January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$585,475
$627,937
7.3%
$232
$243
5.0%
77
48
-37.7%
$1,215,000
$1,490,000
22.6%
132
147
11.4%
97.5%
99.6%
2.1%
9470 Umber Way, Arvada
CANYON POINT January through September
Canyon Point is located
Average Price
just north of Golden near many restaurants
Average Price per Square Foot
and shops and boasts
Average Days on Market
sweeping views of
Highest Price
Colorado’s foothills.
Properties Sold % Sold Price to List Price
2019
2020
% Change
$874,833
$826,750
-5.5%
$348
$364
4.5%
24
8
-66.7%
$972,500
$915,000
-5.9%
6
6
0.0%
98.4%
101.9%
3.6%
EAGLE RIDGE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$715,543
$964,667
34.8%
$326
$376
15.4%
39
3
-92.3%
$810,000
$1,260,000
55.6%
5
3
-40.0%
97.8%
103.8%
6.1%
1150 Golden Circle, Golden
MICROMARKET REPORT | West Metro livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
FIELDSTONE
150%
January through September Average Price Average Price per Square Foot Average Days on Market
The number of properties sold in the neighborhood
Highest Price
of Fieldstone increased by 150% January through
Properties Sold
September 2020 compared to that of 2019.
% Sold Price to List Price
2019
2020
% Change
$695,662
$685,800
-1.4%
$232
$275
18.4%
24
34
41.7%
$779,500
$750,000
-3.8%
4
10
150.0%
97.9%
97.4%
-0.5%
VILLAGE OF FIVE PARKS January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$610,344
$627,748
2.9%
Village of Five Parks is
$244
$243
-0.3%
an award winning, green
15
25
66.7%
community located in
$795,000
$705,000
-11.3%
Arvada. It’s located 15
27
21
-22.2%
minutes to I-70 and seven
99.0%
100.1%
1.2%
minutes to Highway 93.
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
2019
2020
% Change
$622,336
$668,490
7.4%
$395
$404
2.3%
28
27
-3.6%
$1,325,000
$1,510,000
14.0%
140
135
-3.6%
98.7%
99.1%
0.4%
20603 Sky Meadow Lane, Golden
coloradomicroreports.com
GREEN MOUNTAIN VILLAGE January through September Average Price
2019
2020
% Change
$469,561
$493,718
5.1%
$314
$326
3.8%
18
14
-22.2%
$592,500
$679,000
14.6%
90
85
-5.6%
98.8%
99.9%
1.1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
Average Price per Square Foot
conserving the landforms,
Average Days on Market
protecting the Barbara
Highest Price
Gulch Open Space, and
Properties Sold
maximizing access to the
% Sold Price to List Price
rural landscape.
MESA MEADOWS
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
through September 2020 compared to that of 2019.
Average Price
beauty of the area; including
Average Price per Square Foot
Mountain Village increased by 14.6% January
January through September
be sensitive to the unique
Average Price
The highest price in the neighborhood of Green
LEYDEN ROCK
Leyden Rock was created to
January through September
14.6% 2019
2020
% Change
$619,313
$628,294
1.5%
$238
$251
5.4%
80
35
-56.3%
$975,000
$870,000
-10.8%
88
84
-4.5%
97.0%
98.2%
1.2%
8.7%
2019
2020
% Change
$871,000
$946,411
8.7%
$464
$425
-8.3%
11
22
100.0%
$1,285,000
$1,250,000
-2.7%
The average price in the neighborhood of Mesa
7
9
28.6%
Meadows increased by 8.7% January through
100.3%
97.7%
-2.6%
September 2020 compared to that of 2019.
MICROMARKET REPORT | West Metro livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
MESA VIEW ESTATES January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$873,182
$862,785
-1.2%
$261
$269
3.1%
35
26
-25.7%
$1,150,000
$1,270,000
10.4%
11
17
54.5%
96.3%
97.5%
1.2%
927 Cole Street, Golden
NORTH TABLE MOUNTAIN VILLAGE January through September Average Price Average Price per Square Foot
2020
% Change
$678,833
$729,091
7.4%
$367
$316
-14.0%
9
10
11.1%
The number of properties sold in the neighborhood
$725,000
$835,000
15.2%
of North Table Mountain Village increased
3
11
266.7%
by 266% January through September 2020
99.0%
100.3%
1.3%
compared to that of 2019.
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
266.7%
2019
10.2% The highest price in the neighborhood of Oak Park increased by 10.2% January through September 2020 compared to that of 2019.
OAK PARK January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$544,740
$555,750
2.0%
$269
$277
3.0%
19
66
247.4%
$635,000
$700,000
10.2%
10
6
-40.0%
99.1%
97.9%
-1.2%
coloradomicroreports.com
RYAN RANCH January through September Average Price Average Price per Square Foot
2019
2020
% Change
$714,750
$710,000
-0.7%
$256
$296
15.5%
11
17
54.5%
$750,000
$760,000
1.3%
6
6
0.0%
99.7%
99.2%
-0.5%
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
15832 W 56th Place, Golden
13.2%
The average price per square foot for the
neighborhood of Skyline Estates increased
SKYLINE ESTATES January through September Average Price Average Price per Square Foot Average Days on Market Highest Price
by 13.2% January through September 2020
Properties Sold
compared to that of 2019.
% Sold Price to List Price
2019
2020
% Change
$591,023
$615,188
4.1%
$242
$274
13.2%
20
14
-30.0%
$655,000
$716,000
9.3%
13
12
-7.7%
100.0%
99.3%
-0.7%
SOLTERRA January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$859,492
$829,051
-3.5%
$343
$347
1.2%
37
41
10.8%
$1,890,000
$1,325,000
-29.9%
56
55
-1.8%
97.7%
97.8%
0.1%
15282 W Warren Drive, Lakewood
MICROMARKET REPORT | West Metro livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
SPRING MESA January through September
Surrounded by open space,
Average Price
this Arvada neighborhood
Average Price per Square Foot
is full of beautiful and idyllic
Average Days on Market
scenery.
Highest Price Properties Sold % Sold Price to List Price
SUNRISE RIDGE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$823,893
$864,364
4.9%
$292
$247
-15.3%
22
10
-54.5%
$900,000
$939,000
4.3%
14
11
-21.4%
99.1%
100.8%
1.7%
7.7%
2019
2020
% Change
$662,150
$712,938
7.7%
$268
$264
-1.6%
13
52
300.0%
$755,500
$765,000
1.3%
The average price in the neighborhood of Sunrise
13
8
-38.5%
Ridge increased by 7.7% January through
100.0%
97.5%
-2.5%
September 2020 compared to that of 2019.
TABLEROCK January through September
Tablerock offers residents
Average Price
close access to hiking trails,
Average Price per Square Foot
Denver and the mountains,
Average Days on Market
as well as a neighborhood
Highest Price
pool and a welcoming,
Properties Sold
friendly community.
% Sold Price to List Price
2019
2020
% Change
$878,313
$893,000
1.7%
$289
$304
4.9%
16
9
-43.8%
$990,000
$1,007,500
1.8%
8
4
-50.0%
49.5%
97.3%
96.5%
coloradomicroreports.com
TAMARISK January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$762,525
$773,675
1.5%
$240
$262
9.2%
28
14
-50.0%
$907,500
$810,000
-10.7%
6
5
-16.7%
98.6%
99.7%
1.1%
2474 S Kilmer Street, Lakewood
TRAIL VILLAGE
Trail Village is set January through September
alongside the Jefferson
Average Price
County with open space,
Average Price per Square Foot
parks, trails, and features
Average Days on Market
stunning mountain views. This community is just
Highest Price
minutes to coffee shops
Properties Sold
and restaurants.
% Sold Price to List Price
WESTWOODS January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$664,039
$787,080
18.5%
$253
$260
2.8%
53
33
-37.7%
$915,000
$954,900
4.4%
4
5
25.0%
100.5%
98.3%
-2.2%
44.0%
2019
2020
% Change
$682,342
$719,525
5.4%
$283
$289
1.8%
25
14
-44.0%
The average days on market in the neighborhood of
$1,230,000
$1,180,000
-4.1%
Westwoods decreased by 44.0% January through
31
26
-16.1%
September 2020 compared to that of 2019.
98.3%
99.9%
1.7%
MICROMARKET REPORT | West Metro livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
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.