West Metro Year End 2019 Micro Market Report

MICROMARKET REPORT

WEST METRO | YEAR END 2019

WEST METRO

NEIGHBORHOODS 1.

Canyon Point

2.

Mesa Meadows

3.

City of Golden Proper

4.

Eagle Ridge

5.

Table Rock

6.

Spring Mesa

7.

Trail Village

12 6

13 14

8. Fieldstone 9.

Mesa View Estates

10.

Sunrise Ridge

11.

West Woods

12.

Village of Five Parks

7

11 16

10 15 5

8

17

24

18

19

13. Candelas 14.

Leyden Rock

15.

Ryan Ranch

16.

Alkire Estates

17.

Oak Park

18.

Skyline Estates

19.

North Table Mountain Village

20. Applewood

1

2 3 20 4

9

21. Solterra 22. Tamarisk 23.

Green Mountain Village

24. Arvada

21 22

23

Pictured on cover: 2400 Routt Street, Lakewood

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WEST METRO MARKET UPDATE The West Metro area of Denver, which lies within Jefferson County, is truly a unique market. The location gives its residents access to the city while also supplying open spaces that allow people to easily connect to Colorado’s natural beauty. The 24 neighborhoods that make up West Metro, such as Canyon Point, City of Golden Proper, Green Mountain Village, and Candelas, have no shortage of things to do with a plethora of dining, shopping, outdoor recreation, and nightlife options. Live here to get the best of everything Colorado has to offer.

The West Metro Micro Market Report produced by LIV Sotheby’s International Realty analyzes the real estate market comparing year-end results of 2019 to the same time frame of 2018. As a whole, Jefferson County and West Metro experienced a 3.8% increase in new listings that came onto the market last year. Additionally, sold listings rose by 4.5% and total dollar volume sold increased by 7.8% last year compared to 2018.

The average days on market for homes in Mesa View Estates, which sits on the border of the popular nature preserve William F. Hayden Park, fell by 69.8% making the average days on market for listings in this neighborhood 32 days. But it’s the homes in North Table Mountain Village that are selling the quickest.

Listings in this community have the lowest average days on market in Jefferson County, with most homes spending just seven days on the market.

JEFFERSON COUNTY January through December

2018

2019

% Change

New Listings

11,780

11,935

3.8%

Sold Listings (All Properties)

10,055

10,267

4.5%

$462,609

$479,000

2.7%

23

27

23.1%

100.0%

99.0%

-1.1%

4,649,219,861

4,915,019,905

7.8%

Average Price Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold

Two neighborhoods are tied for the largest increase in properties sold within the West Metro. Sunrise Ridge and Oak Park both saw a 62.5% increase in the number of properties sold in 2019 compared to 2018, from eight homes sold in 2018 to 13 homes sold in 2019. These impressive numbers eclipse the average 4.5% growth seen throughout Jefferson County.

While most areas within West Metro saw some increases in home prices, Canyon Point, had the highest increase in listing prices during 2019. Prices in this neighborhood, which is the most western of all 24 areas that make up West Metro, rose by 36% when comparing 2019 to 2018. The average price in this neighborhood for a home last year was $924,250. On the other hand, Leyden Rock home prices remained similar from the previous year. For 2019, the average price for a home was $620,139.

As more millennial homebuyers embrace suburban areas such as West Metro, the real estate market in these kinds of communities continues to thrive, showing promising outcomes for the future.

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 - DECEMBER 2019 • COLORADOMICROREPORTS.COM

30.2%

The highest price for the neighborhood of Alkire Estates increased by 30.2% January through

December 2019 compared to that of 2018.

ALKIRE ESTATES January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$795,000

$942,500

18.6%

$196

$228

16.4%

2

28

1300.0%

$795,000

$1,035,000

30.2%

1

2

100.0%

101.3%

98.1%

-3.1%

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

2018

2019

% Change

$600,512

$622,128

3.6%

$334

$338

1.2%

32

35

9.4%

$1,595,000

$1,300,000

-18.5%

130

134

3.1%

96.6%

96.5%

-0.1%

2400 Routt Street, Lakewood

2.9%

The average price for the city of Arvada increased by 2.9% January through December 2019

compared to that of 2018.

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

2018

2019

% Change

$445,969

$459,035

2.9%

$275

$283

3.0%

27

33

22.2%

$1,825,000

$1,230,000

-32.6%

2,590

2,653

2.4%

98.8%

98.1%

-0.7%

coloradomicroreports.com

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

4.7%

2018

2019

% Change

$581,449

$591,078

1.7%

$223

$234

4.7%

78

74

-5.1%

The average price per square foot for the

$1,050,000

$1,215,000

15.7%

neighborhood of Candelas increased by 4.7%

130

162

24.6%

January through December 2019

98.0%

97.6%

-0.4%

compared to that of 2018.

CANYON POINT January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$809,000

$924,250

36.0%

$343

$363

5.9%

3

21

600.0%

$965,000

$1,100,000

14.0%

6

8

33.3%

100.2%

99.4%

-0.7%

1106 N Jackson Street, Golden

EAGLE RIDGE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$765,964

$772,527

0.9%

$336

$326

-3.0%

17

60

252.9%

$964,000

$1,400,000

45.2%

14

8

-42.9%

101.4%

97.9%

-3.5%

45.2%

The highest price for the neighborhood of Eagle Ridge increased by 45.2% January through

December 2019 compared to that of 2018.

MICROMARKET REPORT | West Metro livsothebysrealty.com

JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM

FIELDSTONE Fieldstone is a family-

January through December

friendly community within

Average Price

Arvada that borders Long

Average Price per Square Foot

Lake Regional Park, offering

Average Days on Market

residents easy access to

Highest Price

many recreational trails.

Properties Sold % Sold Price to List Price

VILLAGE OF FIVE PARKS January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$660,141

$692,108

4.8%

$231

$241

4.4%

30

33

10.0%

$805,000

$779,500

-3.2%

17

6

-64.7%

98.1%

98.0%

-0.1%

5.7%

2018

2019

% Change

$574,775

$607,824

5.7%

$227

$245

8.1%

21

20

-4.8%

The average price for the neighborhood

$675,000

$795,000

17.8%

of Village of Five Parks increased by 5.7%

25

33

32.0%

January through December 2019

99.1%

98.7%

-0.4%

compared to that of 2018.

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

2018

2019

% Change

$595,005

$631,726

6.2%

$379

$400

5.5%

32

34

6.3%

$1,400,000

$1,797,500

28.4%

172

181

5.2%

99.9%

98.4%

-1.5%

coloradomicroreports.com

GREEN MOUNTAIN VILLAGE January through December Average Price

2018

2019

% Change

$442,248

$465,504

5.3%

$191

$196

2.6%

17

21

23.5%

$605,250

$592,500

-2.1%

116

118

1.7%

98.5%

98.5%

0.0%

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

5.3%

The average price for the neighborhood of Green

Mountain Village increased by 5.3% January through December 2019 compared to that of 2018.

LEYDEN ROCK

Leyden Rock is a

January through December

neighborhood where you

Average Price

feel the peace of a rural

Average Price per Square Foot

community, while still

Average Days on Market

having easy access to

Highest Price

Boulder, downtown Denver

Properties Sold

and the mountains.

% Sold Price to List Price

2018

2019

% Change

$620,412

$620,139

0.0%

$242

$243

0.1%

62

79

27.4%

$1,004,076

$975,000

-2.9%

105

125

19.0%

98.8%

96.6%

-2.2%

MESA MEADOWS January through December 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

$873,167

2.1%

$361

$421

16.6%

17

27

58.8%

$1,125,000

$1,797,500

59.8%

7

18

157.1%

97.2%

98.1%

1.0%

MICROMARKET REPORT | West Metro livsothebysrealty.com

JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM

69.8%

The average days on market for the neighborhood of Mesa View Estates decreased by 69.8% January

through December 2019 compared to that of 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

2018

2019

% Change

$758,250

$855,385

12.8%

$243

$266

9.7%

106

32

-69.8%

$1,000,000

$1,150,000

15.0%

28

13

-53.6%

94.7%

96.4%

1.8%

NORTH TABLE MOUNTAIN VILLAGE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$588,750

$644,524

9.5%

$265

$354

33.3%

11

7

-36.4%

$610,000

$725,000

18.9%

4

4

0.0%

99.1%

99.3%

0.2%

15163 W 55th Drive, Golden

16.9% The average price per square foot for the

neighborhood of Oak Park increased by 16.9% January through December 2019 compared to that of 2018.

OAK PARK January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$495,875

$526,723

6.2%

$233

$272

16.9%

8

30

275.0%

$560,000

$635,000

13.4%

8

13

62.5%

97.7%

98.1%

0.4%

coloradomicroreports.com

RYAN RANCH January through December 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

$716,725

9.6%

$242

$250

3.5%

18

12

-33.3%

$725,000

$750,000

3.4%

6

8

33.3%

99.5%

99.6%

0.1%

14.3% The number of properties sold for the

The average price for the neighborhood of Ryan Ranch increased by 9.6% January through

December 2019 compared to that of 2018.

SKYLINE ESTATES January through December Average Price Average Price per Square Foot Average Days on Market

neighborhood of Skyline Estates increased

Highest Price

by 14.3% January through December 2019

Properties Sold

compared to that of 2018.

9.6%

% Sold Price to List Price

2018

2019

% Change

$554,279

$641,613

15.8%

$248

$251

1.0%

13

21

61.5%

$610,000

$1,400,000

129.5%

14

16

14.3%

99.2%

99.4%

0.2%

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

2018

2019

% Change

$810,564

$854,544

5.4%

$335

$341

1.8%

55

41

-25.5%

$2,225,000

$1,890,000

-15.1%

80

69

-13.8%

97.6%

97.2%

-0.4%

2313 S Juniper Way, Lakewood

MICROMARKET REPORT | West Metro livsothebysrealty.com

JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM

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

SUNRISE RIDGE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$813,208

$830,300

2.1%

$288

$290

0.6%

13

21

61.5%

$900,000

$920,000

2.2%

12

15

25.0%

99.1%

97.9%

-1.2%

6.6%

2018

2019

% Change

$638,389

$680,500

6.6%

$261

$266

1.8%

28

13

-53.6%

The average price for the neighborhood of

$700,000

$775,000

10.7%

Sunrise Ridge increased by 6.6% January through

8

13

62.5%

December 2019 compared to that of 2018.

99.2%

99.5%

0.3%

9.9%

The average price for the neighborhood of Tablerock increased by 9.9% January through

December 2019 compared to that of 2018.

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

2018

2019

% Change

$752,848

$827,671

9.9%

$268

$290

8.0%

18

12

-33.3%

$1,000,000

$1,027,000

2.7%

16

14

-12.5%

98.8%

100.0%

1.2%

coloradomicroreports.com

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

25.0%

2018

2019

% Change

$608,700

$723,765

18.9%

$251

$242

-3.7%

19

30

57.9%

$807,000

$907,500

12.5%

neighborhood of Tamarisk increased by

8

10

25.0%

25.0% January through December 2019

99.6%

97.8%

-1.8%

compared to that of 2018.

The number of properties sold for the

TRAIL VILLAGE

Trail Village is set alongside

January through December

Jefferson County Open

Average Price

Space, parks, trails and

Average Price per Square Foot

features stunning mountain

Average Days on Market

views. This community is

Highest Price

minutes to coffee shops

Properties Sold

and restaurants.

% Sold Price to List Price

2018

2019

% Change

$848,454

$626,231

-26.2%

$264

$245

-7.1%

22

24

9.1%

$1,825,000

$915,000

-49.9%

11

5

-54.5%

100.8%

97.6%

-3.1%

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

2018

2019

% Change

$669,359

$658,512

-1.6%

$263

$270

2.7%

23

36

56.5%

$1,825,000

$1,230,000

-32.6%

76

63

-17.1%

99.1%

97.7%

-1.4%

MICROMARKET REPORT | West Metro livsothebysrealty.com

JANUARY - DECEMBER 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.