MICROMARKET REPORT
WEST METRO | YEAR END 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: 13120 W 9th Avenue, Golden
coloradomicroreports.com
WEST METRO MARKET UPDATE Jefferson County, which comprises the West Metro community, is strategically located to give residents the best of two worlds. Nestled between the Mile High City and the Rocky Mountain foothills, these 24 communities enjoy easy access to hundreds of acres of open space as well as charming main streets that harken back to simpler times…yet they are still just a short distance from Denver’s big-city amenities. In light of the challenges we’ve all faced this past year, many home buyers across the nation began searching for properties in capacious suburban areas just like this, in communities that not only bridge city and rural living, but that embrace it. Real estate performance in Denver’s West Metro neighborhood proves that if you know where to look, you really can have it all. LIV Sotheby’s International Realty produces a Micro Market Report focused on the West Metro market and its performance of 2020 compared to 2019. Health-focused amenities, such as the more than 250 miles of trails that wind throughout Jefferson County, are just one of many reasons why homebuyers prioritized West Metro in 2020. Neighborhoods in this community saw a whopping 25.7% increase in total dollar volume sold over the course of last year. Overall, the number of homes sold in this region increased by 15.4%, and average sold prices increased by 8.9%, rising from $479,000 in 2019 to $521,704 in 2020. The average cost of a single family home rose as well—from $537,383 to $588,734—to claim a 9.6% increase. Average days on market for West Metro homes decreased by five days, or 18.5%, proving that demand and market activity in this area remain robust.
JEFFERSON COUNTY January through December
2019
2020
% Change
New Listings
11,935
12,587
5.5%
Sold Listings (All Properties)
10,267
11,844
15.4%
Average Price (All Properties)
$479,000
$521,704
8.9%
Average Price (Single Family)
$537,383
$588,734
9.6%
Average Days on Market 27 22 -18.5% Several West Metro communities enjoyed price increases in 2020 as compared to 2019, especially % Sold Price to Original List Price 99.0% 100.0% 1.0% for newer, larger estates in established communities Total Dollar Volume Sold $4,915,019,905 $6,179,064,970 25.7% like Golden and Arvada, where prices rose by 10.9% and 9.5% respectively. The average price of a home in the Eagle Ridge neighborhood, for example, was 23% higher than in 2019, coming in a close second to Alkire Estates (23.6%), Alkire Estates also saw an impressive 43.9% gain in price per square foot, up from $228 in 2019 to $328 in 2020.
In addition to increases in prices, the surge of demand resulted in increases in the number of homes sold in several West Metro neighborhoods. For example, Solterra, a newer neighborhood located between Green Mountain and Bear Creek Lake Park, saw a 34.8% rise in home sales, from 69 listings sold in 2019 to 93 homes sold in 2020. One of the most significant gains was seen in North Table Mountain Village, where homes sold rose by 250%, from four to 14 homes. As more consumers make open space and majestic views a lifestyle priority, the West Metro area will continue to attract buyers and reward sellers.
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 2020 • COLORADOMICROREPORTS.COM
ALKIRE ESTATES January through December
Residents love Alkire
Average Price
Estates because of the vast
Average Price per Square Foot
green open space as well as
Average Days on Market
nearby Standley Lake and
Highest Price
Standley Lake State Park.
Properties Sold % Sold Price to List Price
2019
2020
% Change
$942,500
$1,165,000
23.6%
$228
$328
43.9%
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 December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$622,128
$715,746
15.0%
$338
$382
12.8%
35
21
-40.0%
$1,300,000
$3,275,000
151.9%
134
140
4.5%
96.5%
99.3%
2.9%
2208 Zinnia Way, Golden
39.4%
The average days on market in Arvada decreased by 39.4% January through December 2020 compared to that of 2019.
ARVADA January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$459,035
$502,507
9.5%
$283
$304
7.5%
33
20
-39.4%
$1,230,000
$1,490,000
21.1%
2653
3,060
15.3%
98.1%
130.7%
33.2%
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
2019
2020
% Change
$591,078
$630,233
6.6%
$234
$249
6.5%
55
44
-20.0%
22.6%
$1,215,000
$1,490,000
22.6%
The highest price in the area of Candelas increased
162
196
21.0%
by 22.6% January through December 2020
97.6%
99.3%
1.8%
compared to that of 2019.
CANYON POINT January through December
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
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
2019
2020
% Change
$792,500
$974,833
23.0%
$318
$371
16.8%
16
3
-81.3%
$810,000
$1,260,000
55.6%
2
6
200.0%
98.4%
103.1%
4.8%
2019
2020
% Change
$924,250
$828,188
-10.4%
$363
$372
2.5%
21
11
-47.6%
$1,100,000
$915,000
-16.8%
8
8
0.0%
99.4%
101.3%
1.8%
16.8% The average price per square foot in the neighborhood of Eagle Ridge increased by 16.8% January through December 2020 compared to that of 2019.
MICROMARKET REPORT | West Metro livsothebysrealty.com
JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM
FIELDSTONE
15.8%
January through December Average Price Average Price per Square Foot Average Days on Market
The average price per square foot in Fieldstone
Highest Price
increased by 15.8% January through December
Properties Sold
2020 compared to that of 2019.
% Sold Price to List Price
2019
2020
% Change
$692,108
$681,917
-1.5%
$241
$279
15.8%
33
28
-15.2%
$779,500
$750,000
-3.8%
6
12
100.0%
98.0%
97.9%
-0.1%
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
2019
2020
% Change
$607,824
$638,248
5.0%
Village of Five Parks is
$245
$247
1.0%
an award-winning, green
20
22
10.0%
$795,000
$810,000
1.9%
33
27
-18.2%
98.7%
100.5%
1.8%
32.4%
The average days on market in the City of Golden
community located in Arvada. It’s located 15 minutes to I-70 and seven minutes to Highway 93.
CITY OF GOLDEN PROPER January through December Average Price Average Price per Square Foot Average Days on Market
Proper decreased by 32.4% January through
Highest Price
December 2020 compared to that of 2019.
Properties Sold % Sold Price to List Price
2019
2020
% Change
$631,726
$700,828
10.9%
$400
$414
3.5%
34
23
-32.4%
$1,797,500
$2,150,000
19.6%
181
197
8.8%
98.4%
99.5%
1.2%
coloradomicroreports.com
GREEN MOUNTAIN VILLAGE January through December Average Price
2019
2020
% Change
$466,120
$500,906
7.5%
$322
$331
2.6%
21
12
-42.9%
$592,500
$679,000
14.6%
123
125
1.6%
98.5%
100.2%
1.8%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
42.9%
The average days on market in Green Mountain Village decreased by 42.9% January through December 2020 compared to that of 2019.
LEYDEN ROCK January through December
Leyden Rock was created to
Average Price
be sensitive to the unique
Average Price per Square Foot
beauty of the area; including
Average Days on Market
conserving the landforms
Highest Price
and protecting the Barbara
Properties Sold
Gulch Open Space.
% Sold Price to List Price
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
2019
2020
% Change
$611,514
$629,944
3.0%
$247
$268
8.3%
58
34
-41.4%
$975,000
$965,000
-1.0%
133
126
-5.3%
96.8%
98.6%
1.9%
50.0%
2019
2020
% Change
$846,599
$960,141
13.4%
$440
$444
0.8%
20
18
-10.0%
$1,285,000
$1,330,000
3.5%
The number of properties sold in the neighborhood
8
12
50.0%
of Mesa Meadows increased by 50.0% January
99.4%
99.0%
-0.3%
through December 2020 compared to that of 2019.
MICROMARKET REPORT | West Metro livsothebysrealty.com
JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM
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
2019
2020
% Change
$855,385
$870,431
1.8%
$266
$267
0.2%
32
25
-21.9%
$1,150,000
$1,270,000
10.4%
13
24
84.6%
96.4%
96.7%
0.3%
16218 W Ellsworth Drive, Golden
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
250%
2019
2020
% Change
$644,524
$709,764
10.1%
$354
$304
-13.9%
7
20
185.7%
The number of properties sold in North Table
$725,000
$835,000
15.2%
Mountain Village increased by 250.0% January
4
14
250.0%
through December 2020 compared to that of 2019.
99.3%
99.9%
0.6%
OAK PARK January through December
Oak Park is a suburban
Average Price
neighborhood located in
Average Price per Square Foot
Arvada and contains both
Average Days on Market
single-family homes and
Highest Price
apartments.
Properties Sold % Sold Price to List Price
2019
2020
% Change
$526,723
$613,944
16.6%
$272
$313
14.9%
30
51
70.0%
$635,000
$826,000
30.1%
13
9
-30.8%
98.1%
99.3%
1.3%
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
2019
2020
% Change
$716,725
$722,843
0.9%
Ryan Ranch is a subdivision
$250
$298
19.0%
in Golden, surrounded by
12
19
58.3%
parks and within close
$750,000
$799,900
6.7%
proximity to the popular
8
7
-12.5%
Long Lake Regional Park.
99.6%
98.9%
-0.7%
47.6%
The average days on market in Skyline Estates
SKYLINE ESTATES January through December Average Price Average Price per Square Foot Average Days on Market
decreased by 47.6% January through December
Highest Price
2020 compared to that of 2019.
Properties Sold % Sold Price to List Price
2019
2020
% Change
$641,613
$632,953
-1.3%
$251
$257
2.5%
21
11
-47.6%
$1,400,000
$805,000
-42.5%
16
16
0.0%
99.4%
100.3%
0.8%
SOLTERRA January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$854,544
$830,758
-2.8%
$341
$347
1.6%
41
45
9.8%
$1,890,000
$1,325,000
-29.9%
69
93
34.8%
97.2%
97.5%
0.2%
15362 W Evans Drive, Lakewood
MICROMARKET REPORT | West Metro livsothebysrealty.com
JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM
61.9%
The average days on market in Spring Mesa
decreased by 61.9% January through December 2020 compared to that of 2019.
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
2019
2020
% Change
$830,300
$925,562
11.5%
$290
$285
-1.8%
21
8
-61.9%
$920,000
$1,275,000
38.6%
15
16
6.7%
97.9%
100.5%
2.6%
13.9%
2019
2020
% Change
$680,500
$723,573
6.3%
$266
$266
0.3%
13
30
130.8%
$775,000
$882,800
13.9%
The highest price in Sunrise Ridge increased
13
11
-15.4%
by 13.9% January through December 2020
99.5%
100.1%
0.6%
compared to that of 2019.
TABLEROCK Tablerock is a newly
January through December
developed community,
Average Price
offering ranch-style and
Average Price per Square Foot
two-story residences at
Average Days on Market
the base of Table Rock
Highest Price
Mountain and north of
Properties Sold
downtown Golden.
% Sold Price to List Price
2019
2020
% Change
$888,540
$909,692
2.4%
$294
$307
4.2%
16
7
-56.3%
$990,000
$1,007,500
1.8%
10
6
-40.0%
99.1%
98.6%
-0.4%
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
2019
2020
% Change
$751,128
$773,675
3.0%
Tamarisk offers close
$238
$262
10.2%
proximity to some of
25
14
-44.0%
Colorado’s best amenities,
$907,500
$810,000
-10.7%
including Red Rocks and
9
5
-44.4%
Dinosaur Ridge Park.
97.4%
99.7%
2.4%
21.8%
TRAIL VILLAGE January through December Average Price Average Price per Square Foot Average Days on Market
The average price in Trail Village increased
Highest Price
by 21.8% January through December 2020
Properties Sold
compared to that of 2019.
% Sold Price to List Price
WESTWOODS January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$690,780
$719,103
4.1%
$277
$293
5.6%
28
15
-46.4%
$1,230,000
$1,185,000
-3.7%
41
44
7.3%
97.9%
101.0%
3.2%
2019
2020
% Change
$626,231
$762,567
21.8%
$245
$259
5.6%
24
28
16.7%
$915,000
$954,900
4.4%
5
6
20.0%
97.6%
98.6%
1.0%
46.4% The average days on market in Westwoods
decreased by 46.4% January through December 2020 compared to that of 2019.
MICROMARKET REPORT | West Metro livsothebysrealty.com
JANUARY - DECEMBER 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.