Q2 2021
Micro Market Report WEST METRO
1412 Jesse Lane
6729 Bear Point Way
West Metro MARKET UPDATE
For those looking for open space, trails, and plenty of parks while still being just a short drive from the heart of Denver, West Metro is a wonderful place to plant roots. Situated along the Foothills, West Metro features up-and-coming shopping centers, a mix of beloved restaurants and newly opened nightlife options, as well as suburban neighborhoods with plenty of peace and privacy. Here, there is something for everyone. Since the start of the year, real estate activity in this community has spiked, illustrating the demand for homes in West Metro. But with the start of the summer season inspiring more consumers to finally take a vacation, showing activity has dipped slightly. This subtle shift may be the change of pace buyers need to find success in the real estate market. While sellers still have the advantage of appreciating home prices, having fewer people in town touring homes and making offers may be the competitive edge buyers need to secure their West Metro dream home. Based on LIV Sotheby’s International Realty’s Mid-Year Micro Market Report, which examines real estate data from January through June of 2021 compared to the same time frame in 2020, Jefferson County, which encompasses much of the West Metro community, has seen a 34.3% increase in total sales volume, reaching a grand total of $3,188,446,858. An 10.4% uptick in the number of homes sold contributed to that impressive rise in sales volume. Additionally, home prices for all property types in West Metro have shown a 21.6% appreciation in the first half of the year, bringing the average price for homes here to $606,976. Many individual neighborhoods within West Metro saw encouraging increases in the number of properties sold through the first half of the year. Although Arvada had the most home sales through June, totaling 1,288 homes sold, Eagle Ridge had the most significant increase in the number of sales compared to the same period of time in 2020. In Eagle Ridge, there were seven homes sold as of June, a 250% improvement from last year when just three homes sold during that same time frame.
Homes in the City of Golden Proper experienced an upward trend in property prices this year. Through the first half of the year, the average price for a home in this community was $768,306 – a 11.4% increase since 2020. In Alkire Estates, one of the newer neighborhoods within West Metro, average home prices rose by 9.8% to reach $1,304,333 so far this year. Increases in average price were also met with considerable decreases in the average days on market for most areas. Most notably, Sunrise Ridge dropped a substantial 94.6% to an average of just three average days on market. Another fast-paced market within West Metro is Green Mountain Village, where average days on market decreased by 82.4%. According to the report, only two neighborhoods did not see an acceleration in market pace this year. Both Spring Mesa and Eagle Ridge have maintained their average days on market since 2020, with homes in these areas remaining on the market for 13 days and four days respectively. Thanks to intensifying demand for West Metro homes and a marginal decrease in showing activity, both buyers and sellers can feel comfortable making the decision to buy and sell homes in this Colorado community.
JEFFERSON COUNTY January through June
2020
2021
% Change
New Listings
6,419
6,378
-0.6%
Sold Listings (all properties)
4,756
5,253
10.4%
Average Price (all Properties)
$499,324
$606,976
21.6%
Average Price (single family)
$563,188
$697,082
23.8%
25
12
-52.0%
100.0%
104.3%
4.3%
$2,374,784,688
$3,188,446,858
34.3%
Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold
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
7.
Village of Five Parks
13. North Table Mountain Village
18. Spring Mesa
2. Applewood
8. City of Golden Proper
3. Arvada
9. Green Mountain Village
14. Oak Park
20. Table Rock
4. Candelas
10. Leyden Rock
15. Ryan Ranch
21. Tamarisk
5. Canyon Point
11. Mesa Meadows
16. Skyline Estates
22. Trail Village
6. Eagle Ridge
12. Mesa View Estates
17. Solterra
23. Westwoods
4
19. Sunrise Ridge
7
10
1 14
18 23
22
19 20
3
15
13
16
11 5
8 2
6 12
9 17 21
MICROMARKET REPORT | West Metro livsothebysrealty.com
JANUARY - JUNE 2021 • COLORADOMICROREPORTS.COM
ALKIRE ESTATES 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 space as well as nearby Standley Lake and Standley Lake State Park.
23.4%
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
January through June Average Price Average Price per Square Foot Average Days on Market
The average price in Applewood
Highest Price
increased by 23.4% January through
Properties Sold
June 2021 compared to that of 2020.
% Sold Price to List Price
ARVADA
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,187,500
$1,304,333
9.8%
$320
$344
7.4%
63
47
-25.4%
$1,225,000
$1,385,000
13.1%
2
3
50.0%
92.4%
96.2%
4.1%
2020
2021
% Change
$700,583
$864,376
23.4%
$366
$456
24.7%
21
13
-38.1%
$3,275,000
$2,700,000
-17.6%
52
58
11.5%
99.4%
103.6%
4.2%
2020
2021
% Change
$482,087
$567,005
17.6%
$296
$356
20.1%
24
8
-66.7%
$1,282,000
$3,025,000
136.0%
1,147
1,288
12.3%
99.5%
105.0%
5.6%
Average Price Average Price per Square Foot Average Days on Market Highest Price 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
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
$611,012
$775,606
26.9%
$239
$282
18.3%
54
17
-68.5%
$1,009,223
$1,350,000
33.8%
80
43
-46.3%
98.5%
101.7%
3.3%
2020
2021
% Change
$791,500
$1,214,000
53.4%
$378
$302
-20.3%
9
5
-44.4%
$890,000
$1,400,000
57.3%
3
5
66.7%
101.4%
118.7%
17.0%
2020
2021
% Change
$989,500
$1,035,571
4.7%
$390
$435
11.7%
4
4
-
$1,260,000
$1,325,000
5.2%
2
7
250.0%
104.7%
110.7%
5.7%
68.5% The average days on market in Candelas decreased by 68.5% January through June 2021 compared to that of 2020.
Canyon Point offers spectacular views from Golden’s sunrises and sunsets, the Table Mountains, Lookout Mountain and the surrounding Golden foothills.
EAGLE RIDGE
January through June
2021
CANYON POINT
January through June
2020
CANDELAS
January through June
FIELDSTONE VILLAGE OF FIVE PARKS GOLDEN
January through June
Fieldstone is a suburban neighborhood in the town of Arvada with close access to the shops of Olde Town Arvada.
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
31.0%
January through June Average Price Average Price per Square Foot Average Days on Market
The highest price in the Village of Five
Highest Price
Parks increased by 31.0% January
Properties Sold
through June 2021 compared to that of 2020.
Golden provides many activities from white water kayaking to fine dining to shopping. Visit Clear Creek, climb aboard the trains at the Colorado Railroad Museum or drive up Lookout Mountain and visit Buffalo Bill’s Museum.
% Sold Price to List Price
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$690,833
-
-
$284
-
-
12
-
-
$750,000
-
-
6
No Sales
-
99.4%
-
-
2020
2021
% Change
$612,830
$768,786
25.4%
$235
$287
22.4%
21
7
-66.7%
$665,000
$871,000
31.0%
10
7
-30.0%
99.5%
105.9%
6.4%
2020
2021
% Change
$689,685
$768,306
11.4%
$389
$484
24.5%
33
12
-63.6%
$1,260,000
$2,200,000
74.6%
72
98
36.1%
98.7%
105.4%
6.8%
Average Price Average Price per Square Foot Average Days on Market Highest Price 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
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
$474,191
$582,337
22.8%
$324
$409
26.1%
17
3
-82.4%
$679,000
$790,000
16.3%
44
59
34.1%
100.1%
106.9%
6.8%
2020
2021
% Change
$620,170
$771,942
24.5%
$252
$313
24.1%
38
8
-78.9%
$870,000
$1,125,000
29.3%
51
52
2.0%
98.1%
103.0%
5.0%
2020
2021
% Change
$1,008,699
$1,081,500
7.2%
$451
$490
8.5%
17
2
-88.2%
$1,250,000
$1,255,000
0.4%
6
2
-66.7%
97.9%
118.6%
21.1%
34.1%
The number of properties sold in Green Mountain Village increased by 34.1%
January through June 2021 compared to that of 2020.
88.2% The average days on market in Mesa Meadows decreased by 88.2% January through June 2021 compared to that of 2020.
MESA MEADOWS
January through June
2021
LEYDEN ROCK
January through June
2020
GREEN MOUNTAIN VILLAGE
January through June
MESA VIEW ESTATES NORTH TABLE MOUNTAIN VILLAGE
OAK PARK
73.8% The highest price in Mesa View Estates increased by 73.8% January through June 2021 compared to that of 2020.
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
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.
27.9%
The average price in Oak Park increased by 27.9% January through June 2021 compared to that of 2020.
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$829,484
$1,117,778
34.8%
$264
$342
29.5%
35
8
-77.1%
$978,000
$1,700,000
73.8%
10
9
-10.0%
98.3%
103.3%
5.1%
2020
2021
% Change
$705,214
$869,875
23.3%
$302
$389
28.7%
8
34
325.0%
$831,000
$1,061,000
27.7%
7
4
-42.9%
101.2%
109.1%
7.8%
2020
2021
% Change
$576,800
$737,500
27.9%
$291
$335
15.3%
79
7
-91.1%
$700,000
$755,000
7.9%
5
2
-60.0%
97.4%
103.7%
6.4%
% Change
$700,000
$862,500
23.2%
$256
$809
216.6%
4
8
100.0%
$715,000
$910,000
27.3%
2
2
-
% Sold Price to List Price
99.7%
99.1%
-0.7%
January through June
2020
2021
% Change
$607,725
$787,500
29.6%
$268
$354
32.0%
16
4
-75.0%
$619,900
$875,000
41.2%
4
6
50.0%
98.4%
108.8%
10.5%
2020
2021
% Change
$832,051
$968,882
16.4%
$357
$376
5.4%
35
25
-28.6%
$1,200,000
$1,854,000
54.5%
25
39
56.0%
97.6%
100.8%
3.3%
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
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
Ryan Ranch is a subdivision in Golden, surrounded by parks and within close proximity to the popular Long Lake Regional Park as well as the Shiloh Farms Equestrian Center and The West Wood Golf Club.
32.0%
The average price per square foot in Skyline Estates increased by 32.0%
January through June 2021 compared to that of 2020.
SOLTERRA
2021
SKYLINE ESTATES
2020
RYAN RANCH
January through June
TABLEROCK
Average Price Average Price per Square Foot Average Days on Market
The highest price in Spring Mesa
Highest Price
increased by 41.1% January through
Properties Sold
June 2021 compared to that of 2020.
SUNRISE RIDGE
SPRING MESA
41.1%
January through June
% Sold Price to List Price
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
Tablerock offers ranch-style and two-story residences at the base of Table Rock Mountain and north of downtown Golden. Tablerock offers residents close access to many hiking trails.
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$865,375
$1,228,000
41.9%
$244
$369
51.1%
13
13
-
$939,000
$1,325,000
41.1%
8
5
-37.5%
101.0%
98.3%
-2.7%
2020
2021
% Change
$727,700
$837,711
15.1%
$261
$326
25.1%
56
3
-94.6%
$765,000
$1,096,000
43.3%
5
5
-
99.2%
106.9%
7.8%
2020
2021
% Change
$844,000
$1,168,333
38.4%
$318
$357
12.3%
3
1
-66.7%
$860,000
$1,415,000
64.5%
2
6
200.0%
100.5%
101.2%
0.8%
Average Price Average Price per Square Foot Average Days on Market Highest Price 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
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
$759,988
-
-
$253
-
-
18
-
-
$779,975
-
-
2
No Sales
-
98.2%
-
-
2020
2021
% Change
$816,800
-
-
$262
-
-
35
-
-
$954,900
-
-
3
No Sales
-
98.8%
-
-
2020
2021
% Change
$686,383
$807,222
17.6%
$282
$324
14.9%
17
4
-76.5%
$1,150,000
$1,091,000
-5.1%
18
9
-50.0%
100.3%
108.3%
8.0%
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.
76.5%
The average days on market in the
neighborhood of Westwoods decreased by 76.5% January through June 2021 compared to that of 2020.
WEST WOODS
January through June
2021
TRAIL VILLAGE
January through June
2020
TAMARISK
January through June
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.
MICROMARKET REPORT | West Metro JANUARY - JUNE 2021 • COLORADOMICROREPORTS.COM