Micro Market Report
WEST METRO
QUARTER 1 2023
150 S Kilmer Steet
7595 Lewis Street
MARKET UPDATE West Metro
For those that love the energy that Denver embodies but want to be just one step closer to the mountains, West Metro is the place to be. This community within Jefferson County is a suburban haven with all of the entertainment, shopping, and recreation options of a big city. Offering more space and affordability than Denver Metro, this collection of neighborhoods is attractive to consumers of all ages and lifestyles and has remained a popular destination for those looking to create the life they love along the Front Range.
Denver’s West Metro real estate market is starting off 2023 on a positive note and outperforming many conservative expectations. The number of homes sold throughout Jefferson County decreased in comparison to 2022. Through March of this year, there have been 1,164 homes sold —down 17.5% from 2022. However, low inventory coupled with continued buyer demand resulted in housing prices remaining strong and a decrease in the days on market. After a slow end of 2022, momentum is certainly building in Denver’s real estate market.
While rising interest rates mean that buyers have less purchasing power and sellers have come down ever
so slightly on pricing, limited inventory and high demand still give sellers a lot of control in this market. During the first quarter of the year, the average price for a single-family home in Jefferson County is $729,892 —down 6.1% from 2022.
West Metro’s individual neighborhoods vary in market trends, as there are many distinctions even within this small geographic region. We are seeing a wide variance in buyer demand for certain neighborhoods, subdivisions, and even buildings. In the first quarter of 2023, Candelas saw a 12.4% increase in average sales compared to 2022, and the Applewood saw a 5.4% decrease for the same time period.
We recognize each locality is unique and no two regions respond to market shifts the same way. To aid in presenting an accurate picture of each of the areas that make up West Metro, LIV Sotheby’s International Realty is proud to present our Micro Market Report, representing the metrics of many key and beloved neighborhoods.
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.
Jefferson County
coloradomicroreports.com Based on Information from REColorado for the period January 1st, 2023 - March 31th, 2023. 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. January through March 2022 2023 % Change New Listings 2,435 2,046 -16.0% Sold Listings (All Properties) 2,005 1,654 -17.5% Average Price (All Properties) $681,479 $647,206 -5.0% Average Price (Single Family) $777,449 $729,892 -6.1% Average Days on Market 11 38 245.5% % Sold Price to Original List Price 105.2% 98.6% -6.3% Total Dollar Volume Sold $1,366,365,412 $1,070,479,326 -21.7%
Average Sales Price (All Properties)
WEST METRO NEIGHBORHOODS
MICRO MARKET REPORT | West Metro JANUARY - MARCH 2023 • COLORADOMICROREPORTS.COM livsothebysrealty.com
1. Alkire Estates
2. Applewood
3. Arvada
4. Candelas
5. Canyon Point
6. Eagle Ridge
7. Fieldstone
8. Village of Five Parks
9. Golden
10. Green Mountain Village
11. Leyden Rock
12. Mesa Meadows
13. Mesa View Estates
14. North Table Mountain Village
15. Oak Park
16. Ryan Ranch
17. Skyline Estates
18. Solterra
19. Spring Mesa
20. Sunrise Ridge
21. Table Rock
22. Tamarisk
23. Trail Village
20 1 4 12 18 17 16 6 10 11 3 13 19 14 2 15 5 21 23 22 7 8 9 10 24
24. West Woods
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 space, as well as it’s location nearby Standley Lake and Standley Lake State Park.
0.5%
The highest sale price in Arvada increased by 0.5% in the first quarter of 2023 compared to that of 2022.
ALKIRE ESTATES APPLEWOOD ARVADA January through March 2022 2023 % Change Average Price $660,393 $617,056 -6.6% Average Price Per Square Foot $411 $399 -3.1% Average Days on Market 11 38 245.5% Highest Price $2,000,000 $2,010,000 0.5% Properties Sold 561 465 -17.1% % Sold Price to List Price 105.6% 97.1% -8.1% January through March 2022 2023 % Change Average Price $1,281,667 -Average Price Per Square Foot $500 -Average Days on Market 31 -Highest Price $1,485,000 -Properties Sold 3 No Sales% Sold Price to List Price 98.3% -January through March 2022 2023 % Change Average Price $943,855 $892,944 -5.4% Average Price Per Square Foot $547 $495 -9.5% Average Days on Market 14 36 157.1% Highest Price $1,435,000 $2,050,000 42.9% Properties Sold 18 18 0.0% % Sold Price to List Price 110.7% 97.7% -11.7%
26.3%
The average price per square foot in Canyon Point decreased by 26.3% in the first quarter of 2023 compared to that of 2022.
A newer community, Eagle Ridge is comprised of three different neighborhoods with larger homes that come in two-story, tri-level, and ranch style. Nearby, there are beautiful parks and trails, and a bike path that leads right to Golden.
January through March 2022 2023 % Change Average Price - $970,000Average Price Per Square Foot - $461Average Days on Market - 13
Highest Price - $1,150,000Properties Sold No Sales 2% Sold Price to List Price - 98.9%January through March 2022 2023 % Change Average Price $907,905 $1,019,455 12.3% Average Price Per Square Foot $331 $347 4.9% Average Days on Market 14 42 200.0% Highest Price $1,860,000 $1,350,000 -27.4% Properties Sold 21 11 -47.6% % Sold Price to List Price 101.8% 98.3% -3.4% January through March 2022 2023 % Change Average Price $1,700,000 $1,600,000 -5.9% Average Price Per Square Foot $625 $461 -26.3% Average Days on Market 0 2 100.0% Highest Price $1,700,000 $1,600,000 -5.9% Properties Sold 1 1 0.0% % Sold Price to List Price 113.7% 94.4% -17.0% EAGLE RIDGE CANYON POINT CANDELAS
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Fieldstone is a suburban neighborhood in the town of Arvada with close access to the shops of Olde Town Arvada.
7.8%
The average price per square foot in Village of Five Parks increased by 7.8% in the first quarter of 2023 compared to that of 2022.
FIELDSTONE VILLAGE OF FIVE PARKS GOLDEN January through March 2022 2023 % Change Average Price $942,264 $766,935 -18.6% Average Price Per Square Foot $599 $584 -2.4% Average Days on Market 5 21 320.0% Highest Price $1,700,000 $2,000,000 17.6% Properties Sold 36 42 16.7% % Sold Price to List Price 108.2% 98.9% -8.6% January through March 2022 2023 % Change Average Price $1,500,000 -Average Price Per Square Foot $390 -Average Days on Market 4 -Highest Price $1,500,000 -Properties Sold 1 No Sales% Sold Price to List Price 122.5% -January through March 2022 2023 % Change Average Price $876,333 $762,500 -13.0% Average Price Per Square Foot $328 $353 7.8% Average Days on Market 3 9 200.0% Highest Price $901,000 $935,000 3.8% Properties Sold 6 5 -16.7% % Sold Price to List Price 107.3% 100.4% -6.4%
The number of properties sold in Green Mountain Village decreased by 22.2% in the first quarter of 2023 compared to that of 2022.
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 two-story, ranch style, and large custom homes.
January through March 2022 2023 % Change Average Price $685,341 $687,057 0.3% Average Price Per Square Foot $448 $419 -6.5% Average Days on Market 7 34 385.7% Highest Price $1,125,000 $871,000 -22.6% Properties Sold 18 14 -22.2% % Sold Price to List Price 107.0% 98.6% -7.9% January through March 2022 2023 % Change Average Price $899,219 $966,967 7.5% Average Price Per Square Foot $364 $365 0.3% Average Days on Market 7 40 471.4% Highest Price $1,239,722 $1,437,800 16.0% Properties Sold 17 9 -47.1% % Sold Price to List Price 106.7% 96.8% -9.3% MESA MEADOWS LEYDEN ROCK GREEN MOUNTAIN VILLAGE
22.2%
January through March 2022 2023 % Change Average Price $1,586,250 $1,067,500 -32.7% Average Price Per Square Foot $869 $537 -38.1% Average Days on Market 10 3 -70.0% Highest Price $1,675,000 $1,470,000 -12.2% Properties Sold 2 2 0.0% % Sold Price to List Price 96.8% 105.7% 9.2%
200.0%
The number of properties sold in North Table Mountain Village increased by 200.0% in the first quarter of 2023 compared to that of 2022.
Oak Park is a suburban neighborhood located in Arvada and 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.
MESA VIEW ESTATES NORTH TABLE MOUNTAIN VILLAGE OAK PARK January through March 2022 2023 % Change Average Price - $720,000Average Price Per Square Foot - $331Average Days on Market
43Highest Price
$725,000
Properties Sold No Sales 2% Sold Price to List Price - 94.3%January through March 2022 2023 % Change Average Price $1,298,000 $873,500 -32.7% Average Price Per Square Foot $437 $307 -29.8% Average Days on Market 4 31 675.0% Highest Price $1,346,000 $892,000 -33.7% Properties Sold 2 2 0.0% % Sold Price to List Price 101.9% 93.9% -7.8% January through March 2022 2023 % Change Average Price $880,000 $830,000 -5.7% Average Price Per Square Foot $493 $360 -26.9% Average Days on Market 1 17 1600.0% Highest Price $880,000 $855,000 -2.8% Properties Sold 1 3 200.0% % Sold Price to List Price 115.8% 100.5% -13.3%
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9.4%
The average price per square foot in Skyline Estates decreased by 9.4% in the first quarter of 2023 compared to that of 2022.
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.
January through March 2022 2023 % Change Average Price $1,200,000 $949,975 -20.8% Average Price Per Square Foot $428 $310 -27.6% Average Days on Market 1 7 600.0% Highest Price $1,200,000 $949,975 -20.8% Properties Sold 2 1 -50.0% % Sold Price to List Price 109.1% 100.0% -8.3% January through March 2022 2023 % Change Average Price $968,210 $875,000 -9.6% Average Price Per Square Foot $439 $398 -9.4% Average Days on Market 2 4 100.0% Highest Price $1,008,129 $875,000 -13.2% Properties Sold 3 1 -66.7% % Sold Price to List Price 114.4% 100.0% -12.6% SOLTERRA SKYLINE ESTATES RYAN
RANCH
January through March 2022 2023 % Change Average Price $989,993 $990,683 0.1% Average Price Per Square Foot $489 $449 -8.3% Average Days on Market 10 13 30.0% Highest Price $1,270,000 $1,290,000 1.6% Properties Sold 14 9 -35.7% % Sold Price to List Price 104.9% 100.8% -3.9%
A dream destination in west Arvada, Spring Mesa is a gorgeous neighborhood filled with luxury homes surrounded by 160 acres of open space, lakes, and trails.
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 2022 2023 % Change Average Price - $940,000Average Price Per Square Foot - $365Average Days on Market - 1Highest Price - $940,000Properties Sold No Sales 1% Sold Price to List Price - 100.1%January through March 2022 2023 % Change Average Price $1,492,500 -Average Price Per Square Foot $584 -Average Days on Market 5 -Highest Price $1,575,000 -Properties Sold 2 No Sales% Sold Price to List Price 119.9% -January through March 2022 2023 % Change Average Price $1,710,000 $1,105,000 -35.4% Average Price Per Square Foot $487 $500 2.7% Average Days on Market 3 4 33.3% Highest Price $1,710,000 $1,105,000 -35.4% Properties Sold 1 1 0.0% % Sold Price to List Price 104.9% 113.3% 8.0%
SPRING MESA SUNRISE RIDGE TABLE ROCK
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.
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, parks, and the West Woods Golf Course.
January through March 2022 2023 % Change Average Price - $765,000Average Price Per Square Foot - $345Average Days on Market - 55Highest Price - $765,000Properties Sold No Sales 1% Sold Price to List Price - 98.7%January through March 2022 2023 % Change Average Price $1,000,000 -Average Price Per Square Foot $338 -Average Days on Market 2 -Highest Price $1,000,000 -Properties Sold 1 No Sales% Sold Price to List Price 100.5% -WEST WOODS TRAIL VILLAGE TAMARISK
January through March 2022 2023 % Change Average Price $1,554,633 $897,000 -42.3% Average Price Per Square Foot $491 $392 -20.1% Average Days on Market 11 45 309.1% Highest Price $2,000,000 $1,226,000 -38.7% Properties Sold 3 8 166.7% % Sold Price to List Price 100.5% 96.8% -3.7%
MICRO MARKET REPORT | West Metro JANUARY - MARCH 2023 • COLORADOMICROREPORTS.COM
