West Metro | Quarter 2, 2022

QUARTER 2 2022

Micro Market Report WEST METRO

1992 Montane Drive

32453 Upper Bear Creek Road

West Metro

WEST METRO NEIGHBORHOODS

MARKET UPDATE

1.

LIV Sotheby’s International Realty produces a Micro Market Report focused on the West Metro market and its performance from January through June of 2022 compared to the same time frame in 2021. During the first half of the year, West Metro saw average home prices appreciate by 18.2% to reach an average price of $717,146. The average amount of time that homes spent on the market was 10 days—16.7% less time than January through June of 2021. These increases indicate that West Metro remains a hot market for homebuying and selling in Colorado.

Several West Metro communities enjoyed price appreciation through the first quarter of the year as compared to the same period last year. In Arvada, the average price for a home rose by 18.8% to reach $674,956 in Q2. In the City of Golden, homes sold for average price of $900,560 which is 17.2% higher than the same time frame in 2021. Some of the most affordable homes were found in Arvada where the average sale price was $674,956. On the other hand, some of the most expensive homes were recorded in Mesa Meadows where the average sale price was $1,569,500.

8. Village of Five Parks

14. North Table

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

Mountain Village

4 8

11

1 19 15

23 24 7

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.

21

10

3

20 16

17

14

12 5

9

WEST METRO

2

January through June

2021

2022

% Change

New Listings

6,378

6,467

1.4%

Sold Listings (All Properties)

5,253

5,052

-3.8%

Average Price (All Properties)

$606,976

$717,146

18.2%

Average Price (Single Family)

$697,082

$819,467

17.6%

12

10

-16.7%

104.3%

104.8%

0.5%

% Sold Price to Original List Price

20. Sunrise Ridge

Fieldstone

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, in the Village of Five Parks property sales rose by 114.3%, growing from seven sales through June of 2021 to 15 sales through June of 2022. Other areas also experienced a boost in home sales during the first half of the year such as the City of Golden where there were 108 homes sold—a 10.2% increase from the same time frame last year. Arvada, the community which had the most homes sold through Q2 in West Metro, saw a 1.7% decrease in property sales which still reached the impressive total of 1,359 homes sold.

Average Days on Market

19. Spring Mesa

2. Applewood

7.

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.

Alkire Estates

6 13 10

Counties: Jefferson

18 22

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.

MICRO MARKET REPORT | West Metro coloradomicroreports.com

livsothebysrealty.com

JANUARY - JUNE 2022 • COLORADOMICROREPORTS.COM

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

January through June

APPLEWOOD

ALKIRE ESTATES

Average Price

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

The average price per square foot in

Arvada increased by 19.1% in the first half 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

2022

% Change

January through June

$1,304,333

$1,340,000

2.7%

$344

$491

42.8%

47

24

-48.9%

$1,385,000

$1,515,000

9.4%

3

4

33.3%

96.2%

98.2%

2.1%

2021

2022

% Change

$864,376

$970,769

12.3%

Average Price

$456

$563

23.4%

Average Price Per Square Foot

13

7

-46.2%

$2,700,000

$2,500,000

-7.4%

Highest Price

58

53

-8.6%

Properties Sold

103.6%

107.9%

4.2%

2021

2022

% Change

$568,204

$674,956

18.8%

Average Price

$356

$424

19.1%

Average Price Per Square Foot

9

13

44.4%

Average Days on Market

$3,025,000

$2,680,000

-11.4%

Highest Price

1,383

1,359

-1.7%

Properties Sold

105.0%

105.2%

0.2%

% 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

January through June

Average Days on Market

% Sold Price to List Price

January through June

2021

2022

% Change

$775,606

$947,828

22.2%

$282

$353

24.9%

17

11

-35.3%

$1,350,000

$1,860,000

37.8%

43

48

11.6%

101.7%

104.9%

3.1%

2021

2022

% Change

$1,214,000

$1,567,500

29.1%

$486

$592

21.8%

5

3

-40.0%

$1,400,000

$1,811,000

29.4%

5

3

-40.0%

118.7%

118.2%

-0.4%

2021

2022

% Change

$1,035,571

$1,082,500

4.5%

$435

$505

16.1%

4

3

-25.0%

$1,325,000

$1,335,000

0.8%

7

2

-71.4%

110.7%

105.6%

-4.6%

29.1%

The average home price in Canyon Point

increased by 29.1% in the first half of 2022 compared to that of 2021.

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’s beautiful parks and trails, and a bike path that leads right to Golden.

EAGLE RIDGE

19.1%

January through June

2021

CANYON POINT

ARVADA

January through June

CANDELAS

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.

FIELDSTONE

% Change

Average Price

-

$1,260,000

-

Average Price

Average Price Per Square Foot

-

$439

-

Average Price Per Square Foot

Average Days on Market

-

8

-

Average Days on Market

Highest Price

-

$1,500,000

-

Highest Price

No Sales

4

-

Properties Sold

-

111.3%

-

% Sold Price to List Price

2021

2022

% Change

$768,786

$873,800

13.7%

Average Price

$287

$356

23.9%

Average Price Per Square Foot

7

4

-42.9%

$871,000

$1,101,000

26.4%

Highest Price

7

15

114.3%

Properties Sold

105.9%

105.1%

-0.8%

2021

2022

% Change

$768,306

$900,560

17.2%

$484

$597

23.3%

12

5

-58.3%

$2,200,000

$2,300,000

4.5%

98

108

10.2%

105.4%

106.2%

0.8%

Properties Sold % Sold Price to List Price

114.3%

January through June Average Price Average Price Per Square Foot Average Days on Market

The number of properties sold in Village of

Highest Price

Five Parks increased by 114.3% in the first

Properties Sold

half of 2022 compared to that of 2021.

% Sold Price to List Price

GOLDEN

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

January through June

Average Days on Market

% 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

2021

2022

% Change

$582,337

$727,791

25.0%

$409

$445

8.8%

3

6

100.0%

$790,000

$1,230,000

55.7%

59

54

-8.5%

106.9%

105.9%

-1.0%

2021

2022

% Change

$771,942

$924,201

19.7%

$313

$376

20.3%

8

6

-25.0%

$1,125,000

$1,239,722

10.2%

52

35

-32.7%

102.9%

104.7%

1.7%

2021

2022

% Change

$1,081,500

$1,569,500

45.1%

$490

$813

66.1%

2

11

450.0%

$1,255,000

$2,300,000

83.3%

2

5

150.0%

118.6%

100.9%

-14.9%

25.0%

The average home price in Green Mountain Village increased by 25.0% in the first half 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 two-story, ranch style, and large custom homes.

MESA MEADOWS

2022

LEYDEN ROCK

VILLAGE OF FIVE PARKS

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

2021

GREEN MOUNTAIN VILLAGE

January through June

MESA VIEW ESTATES NORTH TABLE MOUNTAIN VILLAGE

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

26.7%

January through June Average Price Average Price Per Square Foot Average Days on Market

The average price per square foot sold in

Highest Price

North Table Mountain Village increased

Properties Sold

by 26.7% in the first half of 2022 compared to that of 2021.

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

% Change

January through June

$1,117,778

$1,234,100

10.4%

Average Price

$342

$394

15.2%

Average Price Per Square Foot

8

14

75.0%

Average Days on Market

$1,700,000

$1,785,000

5.0%

Highest Price

9

10

11.1%

Properties Sold

103.3%

102.2%

-1.0%

% Sold Price to List Price

2021

2022

% Change

$869,875

$880,000

1.2%

$389

$493

26.7%

Average Price Per Square Foot

34

1

-97.1%

Average Days on Market

$1,061,000

$880,000

-17.1%

Highest Price

4

1

-75.0%

109.1%

115.8%

6.1%

2021

2022

% Change

$737,500

$615,000

-16.6%

$335

$348

3.8%

7

3

-57.1%

Average Days on Market

$755,000

$615,000

-18.5%

Highest Price

2

1

-50.0%

Properties Sold

103.7%

119.4%

15.2%

January through June Average Price

Properties Sold % Sold Price to List Price

January through June Average Price Average Price Per Square Foot

% Sold Price to List Price

2021

2022

% Change

$862,500

$1,227,500

42.3%

$309

$457

48.0%

8

2

-75.0%

$910,000

$1,260,000

38.5%

2

4

100.0%

99.1%

108.2%

9.2%

2021

2022

% Change

$787,500

$919,605

16.8%

$354

$408

15.3%

4

6

50.0%

$875,000

$1,008,129

15.2%

6

6

0.0%

108.8%

107.6%

-1.1%

2021

2022

% Change

$976,985

$1,142,384

16.9%

$375

$507

35.3%

24

8

-66.7%

$1,854,000

$1,985,000

7.1%

41

44

7.3%

100.7%

105.9%

5.1%

16.8%

The average home price in Skyline Estates increased by 16.8% in the first half 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

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.

% Sold Price to List Price

2022

SKYLINE ESTATES

OAK PARK

Average Price

2021

RYAN RANCH

January through June

SPRING MESA SUNRISE RIDGE

first half 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.

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

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

% Change

January through June

2021

2022

% Change

$1,228,000

$1,434,151

16.8%

Average Price

-

$1,070,000

-

$369

$516

40.1%

Average Price Per Square Foot

-

$351

-

13

5

-61.5%

Average Days on Market

-

4

-

$1,325,000

$1,575,000

18.9%

Highest Price

-

$1,140,000

-

5

4

-20.0%

No Sales

2

-

98.3%

111.7%

13.7%

-

102.1%

-

2021

2022

% Change

2021

2022

% Change

$837,711

$1,050,000

25.3%

Average Price

-

$1,210,000

-

$326

$439

34.5%

Average Price Per Square Foot

-

$350

-

3

0

-100.0%

Average Days on Market

-

18

-

$1,096,000

$1,050,000

-4.2%

Highest Price

-

$1,210,000

-

5

1

-80.0%

No Sales

1

-

106.9%

102.4%

-4.2%

-

100.8%

-

2021

2022

% Change

$1,168,333

$1,710,000

46.4%

Average Price

$357

$487

36.6%

Average Price Per Square Foot

1

3

200.0%

$1,415,000

$1,710,000

20.8%

6

1

-83.3%

101.2%

104.9%

3.6%

Properties Sold % Sold Price to List Price

January through June

Properties Sold % Sold Price to List Price

January through June

Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2021

2022

% Change

$807,222

$1,204,890

49.3%

$324

$462

42.8%

4

9

125.0%

$1,091,000

$2,000,000

83.3%

9

10

11.1%

108.3%

103.9%

-4.1%

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.

WEST WOODS

TABLE ROCK

Spring Mesa increased by 40.1% in the

Average Price Per Square Foot

2022

TRAIL VILLAGE

The average price per square foot in

Average Price

2021

TAMARISK

40.1%

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.

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