West Metro Q1, 2017 Micro Market Report

Page 1

NEIGHBORHOOD MICROMARKET REPORT |

January through June

2016

2017

% Change

Average Price West Metro • Quarter 1 2017 Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Boundaries:

NEIGHBORHOOD January through June

2016

2017

% Change

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

NEIGHBORHOOD January through June

2016

2017

% Change

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

MICROMARKET REPORT | Denver Metro 303.893.3200

page 1

QUARTER 1 2017 • COLORADOMICROREPORTS.COM


WEST METRO NEIGHBORHOODS

12

6 7 5

1

8

11

13 14

16

10 15 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: 1874 Foothills Drive, Golden

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WEST METRO AREA Market Introduction The West Metro Area Micro Market Report (MMR), prepared by LIV Sotheby’s International Realty, compares 2017 statistics (January through March), to that of 2016, for single family homes and attached dwellings. The West Metro area consists of close-in suburban communities that are all located in eastern Jefferson County Colorado, and positioned just west of the central Denver metro area. West Metro areas are located on either side of I-70, which runs east-west through these areas. Living in West Metro provides ample recreational opportunities with close proximity to Denver metro. The West Metro area has become increasingly popular among families, with its abundance of residential neighborhoods and proximity to good employment opportunities, and entertainment venues, including Red Rocks amphitheater. Highlights from the West Metro area include Sunrise Ridge’s average price rising to $679,000, up 17.1%, from 2016. Trail Village’s average price rose to $475,667, up 12.1%, from 2016 and Mesa Meadow’s average price rose to $779,125, up 12% from 2016. Finally, West Wood’s average price rose to $543,030, up 8.8% from 2016.

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Q1 2017 Highlights: • Mesa Meadows’s average price is $779,125

12.0%

• Sunrise Ridge’s average price is $679,000

17.1%

• Trail Village’s average price is $475,667

12.1%

• West Wood’s average price is $543,030

8.8%

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 QUARTER 1 2017 • COLORADOMICROREPORTS.COM


ALKIRE ESTATES January through March Average Price

2016

2017

% Change

$738,000

-

-

Average Price per Square Foot

$181

-

-

Average Days on Market

206

-

-

$738,000

-

-

1

No Sales

-

90.0%

-

-

Highest Price Properties Sold % Sold Price to List Price

APPLEWOOD January through March Average Price

2016

$527,112

2.9%

$259

$270

4.1%

64

37

-42.2%

$690,000

$825,000

19.6%

21

21

0.0%

95.6%

95.6%

0.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$512,424

Average Price per Square Foot

Highest Price

2017

2.9%

During Q1 2017, the average price in the neighborhood of Applewood increased by 2.9% compared to Q1 2016.

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

2016

2017

% Change

$546,816

$552,045

1.0%

$205

$200

-2.6%

182

232

27.5%

$857,568

$764,039

-10.9%

15

19

26.7%

99.2%

97.7%

-1.6%

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CANYON POINT January through March

Located just north of Golden, Canyon Point feels private, yet is close to the abundant recreational, cultural and culinary opportunities offered in Golden.

2016

2017

% Change

Average Price

-

$695,000

-

Average Price per Square Foot

-

$343

-

Average Days on Market

-

5

-

Highest Price

-

$840,000

-

No Sales

2

-

-

102.0%

-

Properties Sold % Sold Price to List Price

EAGLE RIDGE January through March

2016

Average Price

$594,000

$575,000

-3.2%

$295

$268

-9.0%

69

99

43.5%

$594,000

$625,000

5.2%

1

2

100.0%

91.4%

96.4%

5.5%

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

2017

% Change

FIELDSTONE Just minutes from Golden, Fieldstone features a neighborhood of single family homes and condos close to outdoor recreation.

January through March

2016

Average Price

$566,800

-

-

$202

-

-

100

-

-

$593,000

-

-

3

No Sales

-

97.9%

-

-

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

2017

% Change

MICROMARKET REPORT | West Metro livsothebysrealty.com

QUARTER 1 2017 • COLORADOMICROREPORTS.COM


VILLAGE OF FIVE PARKS January through March Average Price

2016

$501,777

4.8%

$202

$223

10.4%

13

35

169.2%

$515,000

$640,000

24.3%

8

9

12.5%

97.4%

98.1%

0.7%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$479,000

Average Price per Square Foot

Highest Price

2017

Located in north Arvada, Village of Five Parks is a popular newer neighborhood that features five different parks, retail shops, a community center, and an elementary school within walking distance.

GARDENS AT TABLE MOUNTAIN January through March Average Price

2016

$595,907

-16.1%

$246

$242

-1.6%

173

155

-10.4%

$710,000

$719,000

1.3%

1

4

300.0%

100.0%

97.7%

-2.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$710,000

Average Price per Square Foot

Highest Price

2017

GOLDEN INCORPORATED January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2016

2017

% Change

$496,855

$524,585

5.6%

$274

$324

18.5%

37

25

-32.4%

$1,350,000

$885,000

-34.4%

22

31

40.9%

97.6%

99.3%

1.7%

18.5%

The average price per square foot in Golden Incorporated increased by 18.5% in Q1 2017 compared to Q1 2016.

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LEYDEN ROCK January through March Average Price

2016

$513,127

-6.4%

$200

$216

8.5%

126

88

-30.2%

$662,000

$640,061

-3.3%

10

28

180.0%

97.5%

97.9%

0.4%

Average Days on Market

Properties Sold % Sold Price to List Price

12.0%

During Q1 2017, the average price in the neighborhood of Mesa Meadows increased by 12.0% compared to Q1 2016.

% Change

$548,105

Average Price per Square Foot

Highest Price

2017

MESA MEADOWS January through March

2016

Average Price

$695,500

$779,125

12.0%

$332

$436

31.3%

34

66

94.1%

$730,000

$779,125

6.7%

2

1

-50.0%

97.9%

91.7%

-6.4%

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

2017

% Change

MESA VIEW ESTATES January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2016

2017

% Change

$815,050

$624,000

-23.4%

$251

$217

-13.5%

74

40

-45.9%

$1,284,800

$720,000

-44.0%

4

4

0.0%

98.2%

96.1%

-2.2%

MICROMARKET REPORT | West Metro livsothebysrealty.com

QUARTER 1 2017 • COLORADOMICROREPORTS.COM


OAK PARK January through March

2016

Average Price

$590,000

-

-

$244

-

-

6

-

-

$590,000

-

-

1

No Sales

-

99.2%

-

-

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

2017

% Change

RYAN RANCH January through March

2016

2017

% Change

Average Price

-

$613,667

-

Average Price per Square Foot

-

$207

-

Average Days on Market

-

152

-

Highest Price

-

$637,000

-

No Sales

3

-

-

95.7%

-

Properties Sold % Sold Price to List Price

Ryan Ranch, located near Golden, features a neighborhood of single family homes with a pleasant year-round climate and an award-winning elementary school.

SKYLINE ESTATES January through March

2016

2017

% Change

Average Price

-

$500,000

-

Average Price per Square Foot

-

$198

-

Average Days on Market

-

91

-

Highest Price

-

$500,000

-

No Sales

1

-

-

92.6%

-

Properties Sold % Sold Price to List Price

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6.8%

During Q1 2017, the average price in the neighborhood of Spring Mesa increased by 6.8% compared to Q1 2016.

SPRING MESA January through March Average Price

2016

$852,500

6.8%

$236

$215

-8.9%

5

63

1160.0%

$840,000

$865,000

3.0%

4

2

-50.0%

100.3%

98.0%

-2.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$798,000

Average Price per Square Foot

Highest Price

2017

SUNRISE RIDGE January through March Average Price

2016

$679,000

17.1%

$175

$205

17.1%

32

15

-53.1%

$604,497

$679,000

12.3%

4

1

-75.0%

96.2%

100.0%

3.9%

Average Days on Market

Properties Sold % Sold Price to List Price

31.9%

The average price per square foot for the neighborhood of Table Rock increased by 31.9% in Q1 2017 compared to Q1 2016.

% Change

$579,874

Average Price per Square Foot

Highest Price

2017

TABLE ROCK January through March

2016

2017

Average Price

$868,000

$832,500

-4.1%

$247

$326

31.9%

1

59

5800.0%

$868,000

$860,000

-0.9%

1

3

200.0%

98.7%

96.0%

-2.7%

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

% Change

MICROMARKET REPORT | West Metro livsothebysrealty.com

QUARTER 1 2017 • COLORADOMICROREPORTS.COM


TRAIL VILLAGE January through March Average Price

2016

% Change

$424,155

$475,667

12.1%

$200

$211

5.4%

2

33

1550.0%

$424,155

$507,000

19.5%

1

3

200.0%

102.2%

96.2%

-5.9%

Average Price per Square Foot Average Days on Market Highest Price

2017

Properties Sold % Sold Price to List Price

WEST WOODS January through March

2016

Average Price

$498,950

$543,030

8.8%

$218

$219

0.4%

33

31

-6.1%

$785,000

$670,000

-14.6%

12

10

-16.7%

98.9%

98.4%

-0.5%

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

NUMBER OF DAYS OF SUNSHINE: 300

2017

% Change

8.8%

During Q1 2017, the average price in the neighborhood of West Woods increased by 8.8% compared to Q1 2016.

NUMBER OF CRAFT BREWERIES IN GOLDEN: 6

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.


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