Foothills Micro Market Report | Quarter 1 2021

Q1 2021

Micro Market Report FOOTHILLS

107 Yankee Creek

32900 Serendipity Trail

Foothills MARKET UPDATE

Colorado’s Foothills offers a lifestyle second-to-none.

The expansive views and easy access to open space, hiking and biking trails make this an ideal place to live. Especially with lifestyle preferences changing to many looking for more space and nearby recreation, the Foothills are drawing in more and more interested buyers.

LIV Sotheby’s International Realty produces a Micro Market Report focused on the Foothills market and the Q1 2021 performance compared to the same timeframe of 2020. The report shows a clear rise in demand for Jefferson County, with a 15.3% increase in the average price met with a dramatic 46.9% decrease in the average days on market. This competition for homes was most likely driven by the 15.8% drop in the number of new listings, with 2,434 new listings on the market so far this year compared to 2,892 in Q1 of 2020.

Average days on market decreased for all areas within the report except for Hiwan Country Club, which showed an increase in the days on market however this was based on just two sales. For the other 19 communities within the Foothills, the average days on market dropped significantly with Brook Forest showing a notable 70% decrease to an average of 12 days on market for the 10 homes that sold so far this year (compared to an average of 40 days on market for the three homes that sold in Q1 of 2020).

decrease in the average days on market. The highest price dipped compared to 2020, which means that more homes sold closer to the average price. Even though the same exact number of homes have sold, it’s clear that there is increased demand this year as compared to last year.

Jefferson County showed a pronounced increase in demand for Q1 of this year compared to Q1 of last year. The 20 Foothills’ communities followed that trend closely, which is resulting in positive returns for sellers. Buyers do still have plenty of opportunities to call the Foothills their home, with some areas showing decreases in the average price. Regardless, buyers need to be expected to act quickly as homes are selling in record time.

JEFFERSON COUNTY January through March

2020

2021

% Change

New Listings

2,892

2,434

-15.8%

Sold Listings (All Properties)

2,162

2,072

-4.2%

Average Price (all Properties)

$489,104

$563,770

15.3%

Average Price (single family)

$563,192

$657,800

16.8%

32

17

-46.9%

99.8%

102.1%

2.3%

$1,057,442,508

$1,168,131,098

10.5%

Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold

The performance of Genesee is interesting to review, as the same number of properties sold (10) with a 7.3% increase in the average price and a 55.6%

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

FOOTHILLS

NEIGHBORHOODS 1. Bear Mountain

6. Evergreen Meadows West

11. Lookout Mountain

16. Soda Creek

2. Brook Forest

7. Evergreen Park Estates

12. Mt. Vernon Country Club

17. Tanoa

3. Conifer Mountain

8. Genesee

13. Ridge at Hiwan

18. Upper Bear Creek

4. Evergreen Highlands

9. Hangen Ranch

14. Riva Chase

5. Evergreen Meadows

10. Hiwan

15. Shadow Mountain

12

11

16 14 17

8

13 10

18 1 9

7 4

2 6

5

15 3

MICROMARKET REPORT | Foothills livsothebysrealty.com

JANUARY - MARCH 2021 • COLORADOMICROREPORTS.COM

BEAR MOUNTAIN CONIFER MOUNTAIN

BROOK FOREST

Bear Mountain is a serene community located approximately 35 minutes west of Denver. The area’s one-of-a-kind homes offer breathtaking views extending from Mount Evans to Longs Peak to Downtown Denver.

January through March

2020

2021

% Change

Average Price

-

$860,000

-

Average Price per Square Foot

-

$193

-

Average Days on Market

-

41

-

Highest Price

-

$860,000

-

No Sales

1

-

% Sold Price to List Price

-

87.4%

-

January through March

2020

2021

% Change

$585,833

$482,900

-17.6%

$354

$469

32.6%

40

12

-70.0%

$675,000

$875,000

29.6%

3

10

233.3%

94.5%

103.3%

9.3%

2020

2021

% Change

$577,400

$638,567

10.6%

$402

$289

-28.1%

62

4

-93.5%

$726,000

$785,000

8.1%

5

3

-40.0%

98.1%

110.5%

12.6%

Properties Sold

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

93.5%

January through March Average Price Average Price per Square Foot Average Days on Market

The average days on market in Conifer

Highest Price

Mountain decreased by 93.5% January

Properties Sold

through March 2021 compared to that of 2020.

% Sold Price to List Price

% Change

Average Price

-

$818,750

-

Average Price per Square Foot

-

$416

-

Average Days on Market

-

9

-

Highest Price

-

$1,015,000

-

No Sales

4

-

% Sold Price to List Price

-

103.3%

-

January through March

2020

2021

% Change

$683,750

$1,078,175

57.7%

$340

$369

8.6%

76

38

-50.0%

$879,000

$1,392,000

58.4%

6

8

33.3%

94.7%

98.0%

3.5%

2020

2021

% Change

Average Price

-

-

-

Average Price per Square Foot

-

-

-

Average Days on Market

-

-

-

Highest Price

-

-

-

No Sales

No Sales

-

-

-

-

Properties Sold

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

January through March

Properties Sold % Sold Price to List Price

Evergreen Meadows West is located down the road from Flying J Ranch and Arapahoe National Forest. Just 15 minutes from Downtown Evergreen, here you can find quiet home sites on two-plus acres, as well as gorgeous views and a convenient location.

EVERGREEN MEADOWS WEST

2021

EVERGREEN MEADOWS

2020

EVERGREEN HIGHLANDS

January through March

Evergreen Highlands is a 230-home community along the front range of the Rocky Mountains. Residents love Evergreen Highlands for the community’s array of amenities, including tennis and volleyball courts, playgrounds, a trout pond, stables, and more.

January through March

2020

2021

% Change

$758,300

-

-

$412

-

-

119

-

-

$949,900

-

-

3

No Sales

-

% Sold Price to List Price

98.1%

-

-

January through March

2020

2021

% Change

$1,105,140

$1,185,905

7.3%

$384

$418

9.1%

63

28

-55.6%

$3,100,000

$1,775,300

-42.7%

10

10

0.0%

93.4%

98.2%

5.2%

2020

2021

% Change

$550,000

-

-

$515

-

-

43

-

-

$550,000

-

-

1

No Sales

-

98.2%

-

-

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold

Average Price

GENESEE

EVERGREEN PARK ESTATES

Evergreen Park Estates is a quiet area with most homesites between one to two acres. This area is located conveniently to Alderfer/Three Sisters Park and is about 10 minutes or less to local shopping.

Average Price per Square Foot Average Days on Market Highest Price Properties Sold

HANGEN RANCH

% Sold Price to List Price

Hangen Ranch is a small neighborhood located in South Evergreen, providing a mix of modern, mountain and old-farm-style homes.

With views of Mt. Evans and only minutes from Evergreen Lake, Hangen Ranch is perfect for those looking to enjoy the outdoors.

January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

71.5%

% Change

$729,000

$1,227,100

68.3%

$249

$331

32.9%

5

77

1440.0%

$729,000

$1,250,000

71.5%

1

2

100.0%

% Sold Price to List Price

100.0%

94.1%

-5.9%

January through March

2020

2021

% Change

$674,167

$893,333

32.5%

$343

$406

18.4%

80

15

-81.3%

32.5%

$712,500

$1,200,000

68.4%

The average price in the neighborhood of

3

3

0.0%

98.4%

100.5%

2.1%

2020

2021

% Change

Average Price

-

$1,093,500

-

Average Price per Square Foot

-

$396

-

Average Days on Market

-

49

-

Highest Price

-

$1,345,000

-

No Sales

2

-

-

102.3%

-

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 March

Properties Sold % Sold Price to List Price

The highest price in the neighborhood of Hiwan Country Club increased by 71.5% January through March 2021 compared to that of 2020.

Hiwan Hills increased by 32.5% January through March 2021 compared to that of 2020.

LOOKOUT MOUNTAIN

2021

HIWAN HILLS

2020

HIWAN COUNTRY CLUB

January through March

MT. VERNON COUNTRY CLUB

RIDGE AT HIWAN RIVA CHASE

Mt. Vernon Country Club is one of the oldest, private clubs in the Denver Metro area, offering spectacular views, amenities, social events, and gorgeous nearby home sights.

37.3%

January through March

2020

2021

% Change

Average Price

-

$940,000

-

Average Price per Square Foot

-

$307

-

Average Days on Market

-

7

-

Highest Price

-

$940,000

-

No Sales

1

-

% Sold Price to List Price

-

104.7%

-

January through March

2020

2021

% Change

$1,038,333

$1,415,867

36.4%

$385

$385

0.1%

50

14

-72.0%

$1,180,000

$1,620,000

37.3%

3

6

100.0%

93.8%

102.0%

8.8%

2020

2021

% Change

Average Price

-

$1,850,000

-

Average Price per Square Foot

-

$292

-

Average Days on Market

-

258

-

Highest Price

-

$1,850,000

-

No Sales

1

-

-

92.5%

-

Properties Sold

Average Price Average Price per Square Foot Average Days on Market

The highest price in the neighborhood

Highest Price

of Ridge at Hiwan increased by 37.3%

Properties Sold

January through March 2021 compared to that of 2020.

% Sold Price to List Price

January through March

Properties Sold % Sold Price to List Price

% Change

$551,800

-

-

$305

-

-

52

-

-

$620,000

-

-

3

No Sales

-

% Sold Price to List Price

95.0%

-

-

January through March

2020

2021

% Change

$1,851,800

$1,175,000

-36.5%

$469

$533

13.7%

207

11

-94.7%

$3,300,000

$1,175,000

-64.4%

The average days on market in Soda

5

1

-80.0%

Creek decreased by 94.7% January

92.4%

91.9%

-0.6%

2020

2021

% Change

$815,250

$1,183,333

45.1%

$342

$447

30.7%

86

20

-76.7%

$915,000

$1,600,000

74.9%

4

3

-25.0%

98.2%

98.2%

-0.1%

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

Shadow Mountain, located in beautiful Conifer, is surrounded by hiking trails and offers residences easy access to Staunton State Park.

94.7% through March 2021 compared to that of 2020.

TANOA

2021

SODA CREEK

2020

SHADOW MOUNTAIN

January through March

UPPER BEAR CREEK

6.6%

The percent sold price to list price in Upper Bear Creek increased by 6.6% January through March 2021 compared to that of 2020.

January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$607,500

$1,250,000

105.8%

$378

$361

-4.5%

53

6

-88.7%

$1,050,000

$1,250,000

19.0%

2

1

-50.0%

97.7%

104.2%

6.6%

04 07 28 300 350+ NATIONAL PARKS

AVG DAYS OF SUNSHINE

MOUNTAIN RANGES

CRAFT BREWERIES

SKI AREAS & RESORTS

MICROMARKET REPORT | Foothills JANUARY - MARCH 2021 • COLORADOMICROREPORTS.COM