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.

Rising interest rates means that buyers have less purchasing power. Sellers have come down ever so slightly in pricing, but limited inventory and high demand still gives buyers 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