Foothills Micro Market Reports | Quarter 2 2021

Q2 2021

Micro Market Report FOOTHILLS

4128 Wild Flower Court

577 Bear Meadow Trail

Foothills

MARKET UPDATE

Located between the bustling city of Denver and the worldclass ski resorts within the Rocky Mountains, the Foothills communities create an unparalleled Colorado living experience. Here the best of both worlds is at your fingertips: nature, a close-knit community, adventure, and a lifestyle that can only be found amidst this one-of-a-kind haven in the hills.

Positioned along the west corridor within Jefferson County, this collection of neighborhoods includes beloved areas such as Genesee, Hiwan Hills, and Lookout Mountain.

Over the course of the last year, homebuyers looking for more space and privacy in a serene setting have flocked to the Foothills to find their dream homes. While much of that momentum in the marketplace continues to push home values upward, a slight decrease in showing activity observed through the start of the summer may give buyers the opportunity they’ve been waiting for to purchase their next home. This seasonal slowdown in showing activity is expected now that consumers are finally able to travel, take a vacation, and visit loved ones, may create a more level playing field for buyers and sellers.

LIV Sotheby’s International Realty produced a Mid-Year Micro Market Report comparing real estate data from the Foothills during January through June of 2021 compared to the same time frame in 2020. Jefferson County showed positive increases in several metrics, including a notable 34.3% boost in the total dollar volume sold, which reached $3,188,446,858.

Although the number of new listings coming onto the market decreased slightly by 0.6%, the number of sold listings grew by 10.4%. During the first half of the year, there were 5,253 homes sold within the Foothills communities. The average price of those homes sold showed a 21.6% appreciation compared to the same period in 2020. Through June of this year, the average price for a home in this area was $606,976.

The area’s popularity resulted in an increasing number of listings sold within the majority of the Foothills’ neighborhoods.

Most notably, Lookout Mountain saw an impressive 300% increase in the number of properties sold, from one property sold through Q2 of 2020 to four properties sold through Q2 of

this year. The Evergreen Meadows neighborhood also experienced a significant rise in home sales during the first half of the year. Here, there were 17 properties sold through June of 2021 – a 183.3% increase from the same time frame last year.

Looking at average home prices, Upper Bear Creek reported one of the highest increases in average price, which rose by 66.9% to bring the average price for a home in this community to $1,232,000. In Genesee, home prices climbed 10.6%, making the average property price $1,164,568 through June of 2021.

Homes within the Ridge at Hiwan neighborhood have sold much more quickly so far this year than they did through the halfway mark of last year. The average days listings spent on the market in this neighborhood decreased from 57 days through June of 2020 to just eight days so far this year – a 86% decrease. The Bear Mountain community saw an even more drastic decrease in average days on market, falling by 91.7% which left homes in this area on the market for an average of just 11 days.

With real estate market conditions that benefit both buyers and sellers, incredible views, and endless opportunities for adventure every day, the Foothills are one of Colorado’s most amazing communities to call home.

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

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 - JUNE 2021 • COLORADOMICROREPORTS.COM

BEAR MOUNTAIN BROOK FOREST CONIFER MOUNTAIN

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

29.6%

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

2020

2021

% Change

$1,003,250

$1,014,167

1.1%

$313

$464

48.0%

132

11

-91.7%

$1,600,000

$1,600,000

-

4

6

50.0%

89.5%

107.7%

20.4%

2020

2021

% Change

$512,981

$552,633

7.7%

$326

$434

32.9%

24

11

-54.2%

$675,000

$875,000

29.6%

14

15

7.1%

The highest price in Brook Forest

Highest Price

increased by 29.6% January through

Properties Sold

June 2021 compared to that of 2020.

% Sold Price to List Price

97.1%

103.9%

7.0%

January through June

2020

2021

% Change

$561,875

$816,963

45.4%

$342

$327

-4.3%

74

7

-90.5%

$726,000

$1,360,000

87.3%

8

8

-

98.2%

108.1%

10.1%

90.5% The average days on market in Conifer

Mountain decreased by 90.5% January through June 2021 compared to that of 2020.

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

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

% Change

$697,667

$817,778

17.2%

$333

$420

26.4%

8

6

-25.0%

$775,000

$1,015,000

31.0%

3

9

200.0%

98.3%

104.9%

6.7%

2020

2021

% Change

$683,750

$1,011,259

47.9%

$340

$378

11.1%

76

22

-71.1%

$850,000

$1,400,000

64.7%

6

17

183.3%

95.1%

100.2%

5.4%

2020

2021

% Change

$628,260

$945,000

50.4%

$307

$627

103.9%

26

6

-76.9%

$815,000

$1,220,000

49.7%

6

3

-50.0%

98.0%

109.6%

11.8%

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.

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

January through June

2021

EVERGREEN MEADOWS

January through June

2020

EVERGREEN HIGHLANDS

January through June

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.

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

GENESEE

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

2020

2021

% Change

$685,980

$732,000

6.7%

$350

$373

6.4%

74

10

-86.5%

$949,900

$860,000

-9.5%

5

4

-20.0%

98.7%

111.1%

12.5%

2020

2021

% Change

$1,052,800

$1,164,568

10.6%

$378

$441

16.7%

57

15

-73.7%

$3,100,000

$1,870,000

-39.7%

18

22

22.2%

94.6%

101.6%

7.4%

2020

2021

% Change

$550,000

$1,100,000

100.0%

$515

$787

52.8%

43

6

-86.0%

$550,000

$1,100,000

100.0%

1

1

-

98.2%

112.8%

14.9%

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

$947,583

$1,361,775

43.7%

$336

$465

38.3%

17

22

29.4%

$1,240,000

$2,675,000

115.7%

6

8

33.3%

98.9%

102.0%

3.1%

2020

2021

% Change

$673,750

$967,831

43.6%

$342

$424

24.2%

35

9

-74.3%

$848,000

$1,386,850

63.5%

8

8

-

99.2%

105.7%

6.6%

2020

2021

% Change

$1,250,000

$1,046,750

-16.3%

$257

$434

68.8%

113

28

-75.2%

$1,250,000

$1,345,000

7.6%

1

4

300.0%

89.3%

110.1%

23.3%

43.7% The average price in the neighborhood of Hiwan Country Club increased by 43.7% January through June 2021 compared to that of 2020.

74.3% The average days on market in Hiwan Hills decreased by 74.3% January through June 2021 compared to that of 2020.

68.8% The average price per square foot in

Lookout Mountain increased by 68.8% January through June 2021 compared to that of 2020.

LOOKOUT MOUNTAIN

January through June

2021

HIWAN HILLS

January through June

2020

HIWAN COUNTRY CLUB

January through June

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.

43.5%

January through June

2020

2021

% Change

Average Price

-

$824,167

-

Average Price per Square Foot

-

$341

-

Average Days on Market

-

12

-

Highest Price

-

$1,044,500

-

No Sales

3

-

-

101.1%

-

2020

2021

% Change

$1,113,571

$1,416,086

27.2%

$323

$430

32.9%

57

8

-86.0%

$1,310,000

$1,880,000

43.5%

7

14

100.0%

93.8%

103.8%

10.7%

2020

2021

% Change

$1,205,500

$1,500,000

24.4%

$360

$296

-17.8%

19

165

768.4%

$1,251,000

$1,850,000

47.9%

2

2

-

95.5%

94.2%

-1.4%

Properties Sold % Sold Price to List Price

January through June 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 43.5%

Properties Sold

January through June 2021 compared to that of 2020.

% 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

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

$527,600

$826,008

56.6%

$346

$427

23.7%

83

4

-95.2%

$620,000

$950,000

53.2%

4

3

-25.0%

94.9%

105.4%

11.0%

2020

2021

% Change

$1,749,143

$2,297,450

31.3%

$418

$482

15.3%

160

41

-74.4%

$3,300,000

$4,775,150

44.7%

7

7

-

92.7%

97.8%

5.5%

2020

2021

% Change

$1,514,667

$2,495,000

64.7%

$423

$703

66.1%

18

11

-38.9%

$1,675,000

$2,495,000

49.0%

3

1

-66.7%

98.3%

100.0%

1.8%

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

64.7% The average price in Spring Ranch increased by 64.7% January through June 2021 compared to that of 2020.

SPRING RANCH

January through June

2021

SODA CREEK

January through June

2020

SHADOW MOUNTAIN

January through June

January through June

TANOA

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

UPPER BEAR CREEK

% Sold Price to List Price

49.4% The average price per square foot in

Upper Bear Creek increased by 49.4% 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

2020

2021

% Change

$815,250

$1,050,714

28.9%

$342

$446

30.4%

86

10

-88.4%

$915,000

$1,600,000

74.9%

4

7

75.0%

98.2%

103.0%

4.9%

2020

2021

% Change

$738,333

$1,232,000

66.9%

$325

$485

49.4%

40

26

-35.0%

$1,050,000

$1,720,000

63.8%

3

5

66.7%

95.5%

101.0%

5.8%

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