West Metro Micro Market Reports | Quarter 2 2021

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