MICROMARKET REPORT |
West Metro • Quarter 1 2018
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 South Foothills Drive, Golden
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WEST METRO market update Located just west of Denver, the West Metro area offers a diversified geographic setting that includes urban and rural lifestyle opportunities and thriving communities including Lakewood, Arvada, and Golden. The added convenience of being located just minutes away from downtown Denver, in close proximity to abundant cultural, recreational and entertainment offerings, makes the region a popular place to live for families and professionals of all ages. The West metro area provides a diverse industry base, with employment opportunities in aerospace, aviation, bioscience, and energy, that draws a large labor pool of highly skilled workers to the area and contributes to West Metro being one of the largest population centers in the state.
Quarter 1 2018 Highlights: • Village of Five Parks’ average price is $569,779
13.6%
Evidence of the West Metro area’s thriving real estate market can be seen in LIV Sotheby’s International Realty’s Quarter 1 Micro Market Report, which compares 2018 January through March statistics, to that of 2017, for single family homes and attached dwellings.
• Mesa Meadow’s average price is $815,167
4.6%
• Trail Village’s average price is $676,650
42.3%
• West Wood’s average price is $597,750
10.1%
Evidence of West Metro’s micro market growth include statistics showing the Village of Five Parks neighborhood’s average price rising to $569,779 up 13.6% year-over-year from 2017. Mesa Meadow’s average price rose to $815,167, up 4.6% from 2017. Trail Village’s average price rose to $676,650 a signficant 42.3% increase year-over-year, and West Wood’s average price rose to $597,750 up 10.1% year-over-year, from 2017.
livsothebysrealty.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.
MICROMARKET REPORT | West Metro QUARTER 1 2018 • COLORADOMICROREPORTS.COM
ALKIRE ESTATES January through December
2017
2018
% Change
Average Price
-
-
-
Average Price per Square Foot
-
-
-
Average Days on Market
-
-
-
Highest Price
-
-
-
No Sales
No Sales
-
-
-
-
Properties Sold % Sold Price to List Price
APPLEWOOD January through December Average Price
2017
$520,214
-1.3%
$270
$306
13.6%
37
36
-2.7%
$825,000
$915,000
10.9%
21
20
-4.8%
95.6%
97.0%
1.5%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$527,112
Average Price per Square Foot
Highest Price
2018
13.6%
January through March 2018, the average price per square foot in the neighborhood of Applewood increased by 13.6% compared to that of 2017.
CANDELAS January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$552,045
$557,266
0.9%
$200
$216
8.3%
232
108
-53.4%
$764,039
$749,095
-2.0%
19
31
63.2%
97.7%
98.4%
0.7%
coloradomicroreports.com
CANYON POINT Canyon Point is located just north of Golden near many restaurants and shops, and boasts sweeping views of Colorado’s foothills.
January through December
2017
2018
Average Price
$695,000
$965,000
38.8%
$343
$382
11.6%
5
2
-60.0%
$840,000
$965,000
14.9%
2
1
-50.0%
102.0%
98.6%
-3.4%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
EAGLE RIDGE January through December Average Price
2017
$819,167
42.5%
$268
$310
15.5%
99
60
-39.4%
$625,000
$875,000
40.0%
2
3
50.0%
96.4%
99.0%
2.6%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$575,000
Average Price per Square Foot
Highest Price
2018
FIELDSTONE January through December
Fieldstone is a family-friendly community within Arvada that borders Long Lake Regional Park, offering residents easy access to many recreational trails.
2017
2018
% Change
Average Price
-
$610,250
-
Average Price per Square Foot
-
$227
-
Average Days on Market
-
77
-
Highest Price
-
$692,500
-
No Sales
2
-
-
96.1%
-
Properties Sold % Sold Price to List Price
MICROMARKET REPORT | West Metro livsothebysrealty.com
QUARTER 1 2018 • COLORADOMICROREPORTS.COM
VILLAGE AT FIVE PARKS January through December Average Price
2017
$569,779
13.6%
$223
$235
5.5%
35
19
-45.7%
$640,000
$660,000
3.1%
9
7
-22.2%
98.1%
99.9%
1.8%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$501,777
Average Price per Square Foot
Highest Price
2018
13.6%
The average price in the neighborhood of The Village at Five Parks increased by 13.6% January through March 2018 compared to that of 2017.
GARDENS AT TABLE MOUNTAIN January through December Average Price
2017
$680,981
14.3%
$242
$274
13.1%
155
11
-92.9%
$719,000
$718,962
0.0%
4
2
-50.0%
97.7%
99.1%
1.5%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$595,907
Average Price per Square Foot
Highest Price
2018
GOLDEN INCORPORATED January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$524,585
$595,431
13.5%
$324
$386
19.0%
25
34
36.0%
$885,000
$965,000
9.0%
31
29
-6.5%
99.3%
100.0%
0.8%
Golden is conveniently located near I-70, offering quick access to both metro Denver and Colorado’s world-class ski resorts.
coloradomicroreports.com
LEYDEN ROCK January through December Average Price
2017
$580,626
13.2%
$216
$224
3.5%
88
103
17.0%
$640,061
$968,000
51.2%
28
27
-3.6%
97.9%
98.2%
0.3%
Average Days on Market
Properties Sold % Sold Price to List Price
4.6%
January through March 2018, the average price in the neighborhood of Mesa Meadows increased by 4.6% compared to that of 2017.
% Change
$513,127
Average Price per Square Foot
Highest Price
2018
MESA MEADOWS January through December Average Price
2017
$815,167
4.6%
$436
$315
-27.8%
66
30
-54.5%
$779,125
$930,000
19.4%
1
3
200.0%
91.7%
96.6%
5.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$779,125
Average Price per Square Foot
Highest Price
2018
MESA VIEW ESTATES January through December
2017
2018
Average Price
$624,000
$704,000
12.8%
$217
$235
8.5%
40
163
307.5%
$720,000
$820,000
13.9%
4
5
25.0%
96.1%
93.8%
-2.4%
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 2018 • COLORADOMICROREPORTS.COM
OAK PARK January through December
2017
2018
% Change
Average Price
-
$482,400
-
Average Price per Square Foot
-
$219
-
Average Days on Market
-
13
-
Highest Price
-
$540,000
-
No Sales
5
-
-
96.1%
-
Properties Sold % Sold Price to List Price
RYAN RANCH January through December Average Price
2017
% Change
$613,667
$615,000
0.2%
$207
$248
19.9%
152
38
-75.0%
$637,000
$640,000
0.5%
3
2
-33.3%
95.7%
98.4%
2.9%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
19.9%
The average price per square foot for the neighborhood of Ryan Ranch increased by 19.9% January through March 2018 compared to that of 2017.
SKYLINE ESTATES January through December
2017
Average Price
$500,000
$454,625
-9.1%
$198
$242
21.9%
91
23
-74.7%
$500,000
$565,000
13.0%
1
4
300.0%
92.6%
100.1%
8.1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
coloradomicroreports.com
17.4%
January through March 2018, the average price per square foot in the neighborhood of Spring Mesa increased by 17.4% compared to that of 2017.
SPRING MESA January through December
2017
Average Price
$852,500
$792,000
-7.1%
$215
$253
17.4%
63
11
-82.5%
$865,000
$820,000
-5.2%
2
4
100.0%
98.0%
99.1%
1.1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
SUNRISE RIDGE January through December Average Price
2017
$636,000
-6.3%
$205
$228
11.3%
15
15
0.0%
$679,000
$636,000
-6.3%
1
1
0.0%
100.0%
97.9%
-2.2%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$679,000
Average Price per Square Foot
Highest Price
2018
TABLE ROCK Table Rock is a newly developed community, offering ranch-style and two-story residences at the base of Table Rock Mountain.
January through December
2017
Average Price
$832,500
$758,333
-8.9%
$326
$238
-27.0%
59
86
45.8%
$860,000
$785,000
-8.7%
3
3
0.0%
96.0%
96.8%
0.8%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
MICROMARKET REPORT | West Metro livsothebysrealty.com
QUARTER 1 2018 • COLORADOMICROREPORTS.COM
TRAIL VILLAGE January through December Average Price
2017
% Change
$475,667
$676,650
42.3%
$211
$271
28.5%
33
35
6.1%
$507,000
$960,000
89.3%
3
3
0.0%
96.2%
101.9%
5.9%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
WEST WOODS January through December Average Price
2017
% Change
$543,030
$597,750
10.1%
$219
$262
19.9%
31
24
-22.6%
$670,000
$960,000
43.3%
10
11
10.0%
98.4%
99.9%
1.5%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
NUMBER OF DAYS OF SUNSHINE: 300
10.1%
January through March 2018, the average price in the neighborhood of West Woods increased by 10.1% compared to that of 2017.
NUMBER OF CRAFT BREWERIES IN GOLDEN: 7
DESIGNATED ACRES FOR PARKS IN ARVADA: 3,400
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.