West Metro Micro Market Report | Quarter 1, 2022

QUARTER 1 2022

Micro Market Report WEST METRO

1384 Lupine Way

5976 Stone Gate Drive

West Metro MARKET UPDATE

Just outside of Denver, the West Metro community offers the chance to live in a variety of neighborhoods suitable for every lifestyle within reach of the excitement of the city and the serenity of the mountains. This area within Jefferson County is a suburban haven located minutes from downtown Denver that boasts all of the food, fun, and adventure that homebuyers are looking for with more room and affordability than downtown living.

LIV Sotheby’s International Realty produces a Micro Market Report focused on the West Metro market and its performance from January through March of 2022 compared to the same time frame in 2021.

So far this year, West Metro has seen average home prices appreciate by 21% to reach an average price of $682,022. Homes in this area sold for 105.3% of the original list price through March of this year. These increases resulted in a 12.6% boost in the overall dollar volume sold, totaling $1,314,938,662 so far this year.

Several West Metro communities enjoyed price appreciation through the first quarter of the year as compared to the same period last year. The City of Golden, a community where history and exciting recreation and entertainment options meet, saw home prices rise by 36.8% to reach an average price of $940,629. Arvada and Mesa View Estates also saw appreciating home prices. Average sale prices in these communities rose by 22.5% and 36.3% respectively to reach $660,393 and $1,298,000.

from two sales through March of 2021 to three sales through March of 2022. Arvada, the community which had the most homes sold through Q1 in West Metro, saw a 2.7% increase in property sales – totaling 561 homes sold.

The City of Golden maintained the same level of property sales through Q1 of this year as it did in Q1 of last year, selling 35 homes in both periods.

With unbeatable access to both the city and Colorado’s scenic natural spaces, West Metro will continue to provide homebuyers and sellers with unique opportunities to reach their real estate and lifestyle goals.

WEST METRO January through March

2021

2022

% Change

New Listings

2,431

2,424

-0.3%

2,080

1,928

-7.3%

Average Price (All Properties)

$563,770

$682,022

21.0%

Average Price (Single Family)

$657,800

$777,402

18.2%

17

12

-29.4%

102.1%

105.3%

3.1%

Sold Listings (All Properties)

Average Days on Market % Sold Price to Original List Price

Counties: Jefferson

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, Alkire Estates property sales rose by 50%, growing 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.

coloradomicroreports.com

WEST METRO NEIGHBORHOODS

1.

Alkire Estates

8. Village of Five Parks

14. North Table

19. Spring Mesa

2. Applewood

9. Golden

3. Arvada

10. Green Mountain Village

15. Oak Park

21. Table Rock

4. Candelas

11. Leyden Rock

16. Ryan Ranch

22. Tamarisk

5. Canyon Point

12. Mesa Meadows

17. Skyline Estates

23. Trail Village

6. Eagle Ridge

13. Mesa View Estates

18. Solterra

24. West Woods

7.

Mountain Village

20. Sunrise Ridge

Fieldstone

4 8

11

1 19 15

23 24 7 21

10

16

17

14

12 5

3

20

9 2 6 13 10

18 22

MICRO MARKET REPORT | West Metro livsothebysrealty.com

JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM

ALKIRE ESTATES ARVADA

APPLEWOOD

Alkire Estates offers custom homes on larger lots, typically around one-half acre and up.

Residents love Alkire Estates because of the vast green open spaces, as well as nearby Standley Lake and Standley Lake State Park.

January through March

2021

2022

% Change

$1,342,500

$1,281,667

-4.5%

$354

$500

41.3%

29

31

6.9%

$1,385,000

$1,485,000

7.2%

2

3

50.0%

% Sold Price to List Price

95.1%

98.3%

3.3%

January through March

2021

2022

% Change

$844,712

$943,855

11.7%

$398

$547

37.5%

18

14

-22.2%

$2,700,000

$1,435,000

-46.9%

20

18

-10.0%

% Sold Price to List Price

101.5%

110.7%

9.1%

January through March

2021

2022

% Change

$539,224

$660,393

22.5%

$341

$411

20.5%

12

11

-8.3%

$2,075,000

$2,000,000

-3.6%

546

561

2.7%

103.4%

105.6%

2.1%

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

22.5%

The average home price in Arvada

increased by 22.5% in the first quarter of 2022 compared to that of 2021.

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

% Change

$711,127

$907,905

27.7%

$276

$331

19.9%

25

14

-44.0%

$1,000,000

$1,860,000

86.0%

20

21

5.0%

% Sold Price to List Price

99.8%

101.8%

2.0%

January through March

2021

2022

% Change

$1,115,000

$1,700,000

52.5%

$409

$625

52.9%

5

0

-100.0%

$1,115,000

$1,700,000

52.5%

1

1

0.0%

% Sold Price to List Price

101.4%

113.7%

12.2%

January through March

2021

2022

% Change

$1,001,333

-

-

$411

-

-

4

-

-

$1,325,000

-

-

3

No Sales

-

106.5%

-

-

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

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

52.5%

The average home price in Eagle Ridge

increased by 52.5% in the first quarter of 2022 compared to that of 2021.

A newer community, Eagle Ridge is comprised of three different neighborhoods with larger homes ranging from the mid 600’s to the 900’s that come in two-story, trilevel, and ranch style. Nearby there’s beautiful parks and trails, and a bike path that leads right to Golden.

EAGLE RIDGE

2022

CANYON POINT

2021

CANDELAS

January through March

FIELDSTONE VILLAGE OF FIVE PARKS GOLDEN

January through March

Fieldstone is a suburban neighborhood in the town of Arvada with close access to the shops of Olde Town Arvada.

Filled with beautiful and well maintained homes, Village of Five Parks is a prime Arvada location, just minutes from Colorado Highway 72.

2021

2022

% Change

Average Price

-

$1,500,000

-

Average Price Per Square Foot

-

$390

-

Average Days on Market

-

4

-

Highest Price

-

$1,500,000

-

No Sales

1

-

% Sold Price to List Price

-

122.5%

-

January through March

2021

2022

% Change

Average Price

-

$876,333

-

Average Price Per Square Foot

-

$328

-

Average Days on Market

-

3

-

Highest Price

-

$901,000

-

No Sales

5

-

% Sold Price to List Price

-

107.3%

-

January through March

2021

2022

% Change

$687,562

$940,629

36.8%

$446

$595

33.5%

19

5

-73.7%

$1,520,000

$1,700,000

11.8%

35

35

0.0%

100.1%

108.2%

8.1%

Properties Sold

Properties Sold

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

% Change

$542,773

$685,341

26.3%

$408

$448

9.7%

2

7

250.0%

$685,000

$1,125,000

64.2%

22

18

-18.2%

% Sold Price to List Price

105.8%

107.0%

1.1%

January through March

2021

2022

% Change

$765,141

$899,219

17.5%

$301

$364

20.7%

10

7

-30.0%

$1,125,000

$1,239,722

10.2%

27

17

-37.0%

% Sold Price to List Price

102.0%

106.7%

4.6%

January through March

2021

2022

% Change

Average Price

-

$1,586,250

-

Average Price Per Square Foot

-

$869

-

Average Days on Market

-

10

-

Highest Price

-

$1,675,000

-

No Sales

2

-

-

96.8%

-

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

Properties Sold % Sold Price to List Price

64.2%

The highest home price in Green Mountain Village increased by 64.2% in the first quarter of 2022 compared to that of 2021.

Located north of downtown Golden and backing up to North Table Mountain, Mesa Meadows is a popular neighborhood filled with a variety of different homes like large two-story, ranch style, and large custom homes.

MESA MEADOWS

2022

LEYDEN ROCK

2021

GREEN MOUNTAIN VILLAGE

January through March

MESA VIEW ESTATES NORTH TABLE MOUNTAIN VILLAGE

OAK PARK

January through March

2021

2022

% Change

$952,500

$1,298,000

36.3%

$290

$437

50.7%

12

4

-66.7%

$1,150,000

$1,346,000

17.0%

4

2

-50.0%

% Sold Price to List Price

98.9%

101.9%

3.0%

January through March

2021

2022

% Change

Average Price

-

$880,000

-

Average Price Per Square Foot

-

$493

-

Average Days on Market

-

1

-

Highest Price

-

$880,000

-

No Sales

1

-

% Sold Price to List Price

-

115.8%

-

January through March

2021

2022

% Change

Average Price

-

-

-

Average Price Per Square Foot

-

-

-

Average Days on Market

-

-

-

Highest Price

-

-

-

No Sales

No Sales

-

-

-

-

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

North Table Mountain Village, a subdivision in the town of Golden, is made up of about 140 single-family homes surrounded by plenty of parks. Nearby lies the picturesque Shiloh Farms Equestrian Center, perfect for horse enthusiasts.

Oak Park is a suburban neighborhood located in Arvada, contains both single-family homes and apartments. Inside the neighborhood lies the Oak Park, with playgrounds, fields, paved trails, sport courts, and a baseball diamond.

Properties Sold

Properties Sold % Sold Price to List Price

% Change

$815,000

$1,200,000

47.2%

$266

$428

61.0%

9

1

-88.9%

$815,000

$1,200,000

47.2%

1

2

100.0%

% Sold Price to List Price

95.9%

109.1%

13.8%

January through March

2021

2022

% Change

$733,500

$968,210

32.0%

$272

$439

61.5%

4

2

-50.0%

$782,500

$1,008,129

28.8%

2

3

50.0%

% Sold Price to List Price

103.6%

114.4%

10.5%

January through March

2021

2022

% Change

$960,458

$989,993

3.1%

$378

$489

29.4%

43

10

-76.7%

$1,434,600

$1,270,000

-11.5%

17

14

-17.6%

100.3%

104.9%

4.6%

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

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

61.5%

The average price per square foot in

Skyline Estates increased by 61.5% in the first quarter of 2022 compared to that of 2021.

Solterra is located between Green Mountain and Bear Creek Lake Park, with impressive views to the west of Red Rocks, Mount Morrison, and the Foothills.

SOLTERRA

2022

SKYLINE ESTATES

2021

RYAN RANCH

January through March

SPRING MESA SUNRISE RIDGE TABLE ROCK

57.4%

The average price per square foot in

Spring Mesa increased by 57.4% in the first quarter of 2022 compared to that of 2021.

Sunrise Ridge offers residents perfect suburban living in Arvada. Located about two miles away from both The Bibber Creek Stables as well as the West Woods Golf Course, Sunrise Ridge is perfect for those who enjoy their daily outdoor activities.

January through March

2021

2022

% Change

$1,125,000

$1,492,500

32.7%

$371

$584

57.4%

11

5

-54.5%

$1,295,000

$1,575,000

21.6%

2

2

0.0%

% Sold Price to List Price

102.2%

119.9%

17.3%

January through March

2021

2022

% Change

$773,129

-

-

$312

-

-

3

-

-

$852,500

-

-

4

No Sales

-

% Sold Price to List Price

104.4%

-

-

January through March

2021

2022

% Change

$710,000

$1,710,000

140.8%

$323

$487

51.0%

1

3

200.0%

$710,000

$1,710,000

140.8%

1

1

0.0%

101.4%

104.9%

3.4%

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

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

2022

% Change

Average Price

-

$1,000,000

-

Average Price Per Square Foot

-

$338

-

Average Days on Market

-

2

-

Highest Price

-

$1,000,000

-

No Sales

1

-

% Sold Price to List Price

-

100.5%

-

January through March

2021

2022

% Change

Average Price

-

-

-

Average Price Per Square Foot

-

-

-

Average Days on Market

-

-

-

Highest Price

-

-

-

No Sales

No Sales

-

-

-

-

Properties Sold

Properties Sold % Sold Price to List Price

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

2021

2022

% Change

$694,900

$1,554,633

123.7%

$322

$491

52.5%

5

11

120.0%

$912,000

$2,000,000

119.3%

5

3

-40.0%

102.5%

100.5%

-1.9%

WEST WOODS

January through March

Trail Village is a beautiful community in Arvada that runs along the Jefferson Country Open Space. Here you have close access to a variety of trails, as well as parks, the West Woods Golf Course.

TRAIL VILLAGE

2021

TAMARISK

January through March

Tamarisk is located in south Green Mountain, a Lakewood suburb. Tamarisk offers close proximity to some of Colorado’s best amenities, including Red Rocks Amphitheater, Bear Creek Lake Park, Dinosaur Ridge Park, and Morrison.

MICRO MARKET REPORT | West Metro JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM