Foothills Q3, 2018 Micro Market Report

MICROMARKET REPORT |

Foothills • January-September 2018

FOOTHILLS NEIGHBORHOODS 18

19 14

1 7

6

8

13

10 5

2.

Upper Bear Creek

3.

Hangen Ranch

4.

Shadow Mountain

5.

Brook Forest

7.

Ridge at Hiwan

8.

Hiwan Country Club

9. Tanoa

15 3

Soda Creek

6. Genesee

9 2

20

1.

16 17

4 11 12

10.

Evergreen Valley Estates

11.

Evergreen Meadows West

12.

Conifer Mountain

13.

Hiwan Hills

14.

Spring Ranch

15.

Bear Mountain

16.

Evergreen Highlands

17.

Evergreen Meadows

18.

Lookout Mountain

19.

Mt. Vernon Country Club

20.

Riva Chase

Pictured on cover: 6009 Flat Creek Drive, Evergreen

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FOOTHILLS market update The Colorado Foothills parallel the Front Range, offering spectacular mountain views and abundant wildlife. Neighborhoods such as Evergreen, Genesee, Lookout Mountain, Hiwan, and more, complete the Foothills’ report by LIV Sotheby’s International Realty.

Many are drawn to living in the Foothills due to the close proximity to Denver and easy drive to the resort communities. January through September of 2018 showed

January-September 2018 Highlights:

an increase of interested buyers to this area, which offers a true Colorado lifestyle.

One particular neighborhood at the base of the Foothills, Bear Mountain, showed exceptional results January through September of 2018, compared to 2017. Average

• Bear Mountains’s average price is $933,267

35.9%

• Hiwan Hill’s average price is $651,679

20.0%

• Lookout Mountain’s average price is $784,949

16.7%

• Tanoa’s average price is $985,400

35.5%

price for Bear Mountain increased by 35.9% to $933,267 in 2018. In addition, properties sold increased by 50% and average days on market decreased by 70.2%.

Buyers looking to purchase in Bear Mountain are expected to pay more and act quick, with average days on market in 2018 at 48 days.

Overall, the rest of the Foothills communities resulted in some noteworthy decreases in days on market and increases in price. Evergreen Meadows, Evergreen Meadows West, Hiwan Hills, Ridge at Hiwan, Shadow Mountain, and Spring Ranch had a drop of average days on market of over 40%. Evergreen Highlands, Evergreen Park Estates, Hiwan Country Club, Hiwan Hills, Lookout Mountain, Mt. Vernon Country Club, Spring Ranch, and Upper Bear Creek resulted in an increase of properties sold by 30+%.

Each neighborhood within the Colorado Foothills provides a different environment, thus a different real estate market. This report details each neighborhood to provide an overview of January through September of 2018 compared to 2017 for average price, average price per square foot, average days on market, highest price, properties sold, and percentage sold-price to list-price.

livsothebysrealty.com

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.

MICROMARKET REPORT | Foothills JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM

BEAR MOUNTAIN January through September

2017

Average Price

$686,866

$933,267

35.9%

$343

$322

-6.1%

161

48

-70.2%

$1,160,000

$1,900,000

63.8%

8

12

50.0%

92.1%

97.4%

5.7%

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

2018

% Change

BROOK FOREST January through September Average Price

2017

$455,933

-7.8%

$326

$309

-5.1%

27

33

22.2%

$1,800,000

$721,000

-59.9%

19

15

-21.1%

99.3%

98.6%

-0.7%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$494,753

Average Price per Square Foot

Highest Price

2018

Around 23.5% of Brook Forest’s residences work from home, which is a higher percentage than 99.7% of other United State’s neighborhoods.

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

2017

2018

% Change

$549,159

$664,909

21.1%

$276

$293

6.4%

76

19

-75.0%

$840,000

$895,000

6.5%

22

11

-50.0%

97.0%

100.2%

3.3%

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22.0%

The average price per square foot for the neighborhood of Evergreen Highlands increased by 22.0% January through June 2018 compared to that of 2017.

EVERGREEN HIGHLANDS January through September

2017

Average Price

$642,500

$614,313

-4.4%

$275

$335

22.0%

19

16

-15.8%

$735,000

$698,500

-5.0%

6

8

33.3%

99.2%

100.0%

0.8%

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

2018

% Change

EVERGREEN MEADOWS January through September Average Price

2017

$724,853

14.4%

$247

$250

1.2%

36

20

-44.4%

$1,038,780

$1,010,000

-2.8%

27

17

-37.0%

96.9%

97.8%

0.9%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$633,381

Average Price per Square Foot

Highest Price

2018

EVERGREEN MEADOWS WEST January through September Average Price

All residences within Evergreen Meadows boast 2+ acre lots that enjoy sweeping views of the Rocky Mountains.

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

2017

2018

% Change

$540,545

$541,961

0.3%

$261

$292

11.9%

109

29

-73.4%

$730,000

$716,650

-1.8%

11

9

-18.2%

95.2%

102.3%

7.5%

MICROMARKET REPORT | Foothills livsothebysrealty.com

JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM

EVERGREEN PARK ESTATES January through September

2017

Average Price

$604,333

$589,125

-2.5%

$278

$312

12.2%

17

16

-5.9%

$850,000

$875,000

2.9%

6

8

33.3%

97.2%

103.1%

6.1%

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

2018

% Change

Evergreen Park Estates is a quiet area. Most home sites are between 1-2 acres and have wooded lots. This area is convenient to Three Sisters’ open space park and is about 10 minutes or less to area shopping.

GENESEE January through September

2017

Average Price

% Change

$926,577

$890,376

-3.9%

$307

$347

12.9%

61

50

-18.0%

$2,500,000

$1,555,000

-37.8%

37

40

8.1%

92.9%

96.8%

4.2%

Average Price per Square Foot Average Days on Market Highest Price

2018

Properties Sold % Sold Price to List Price

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

2017

2018

% Change

$953,625

$787,238

-17.4%

$283

$330

16.5%

57

45

-21.1%

$1,625,000

$1,125,000

-30.8%

6

8

33.3%

95.3%

97.9%

2.7%

Situated ideally, just past Three Sisters’ open space park, Hangen Ranch offers large home lots and horse-friendly zoning.

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HIWAN COUNTRY CLUB January through September Average Price

2017

$871,536

16.7%

$285

$303

6.3%

8

36

350.0%

$975,000

$1,800,000

84.6%

13

20

53.8%

99.8%

98.6%

-1.3%

Average Days on Market

Properties Sold % Sold Price to List Price

20.0%

January through September 2018, the average price for the neighborhood of Hiwan Hills increased by 20.0% compared to that of 2017.

% Change

$746,615

Average Price per Square Foot

Highest Price

2018

HIWAN HILLS January through September Average Price

2017

$651,679

20.0%

$331

$261

-21.1%

21

12

-42.9%

$665,000

$835,000

25.6%

7

14

100.0%

99.6%

99.6%

0.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$543,286

Average Price per Square Foot

Highest Price

2018

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

2017

2018

% Change

$672,733

$784,949

16.7%

$292

$325

11.2%

42

26

-38.1%

$1,035,000

$1,021,401

-1.3%

15

26

73.3%

95.5%

97.8%

2.4%

MICROMARKET REPORT | Foothills livsothebysrealty.com

JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM

MT. VERNON COUNTRY CLUB January through September

2017

2018

Average Price

$804,500

$606,000

-24.7%

$306

$280

-8.4%

46

63

37.0%

$859,000

$700,000

-18.5%

2

3

50.0%

99.6%

96.8%

-2.8%

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

% Change

RIDGE AT HIWAN January through September Average Price

2017

$1,123,016

14.9%

$196

$335

70.6%

76

34

-55.3%

$1,850,000

$1,630,000

-11.9%

15

19

26.7%

96.3%

97.2%

1.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$977,805

Average Price per Square Foot

Highest Price

2018

The Ridge at Hiwan, conveniently located near I-70, offers residences easy access to rolling hills, open spaces, ponds, and miles of trails.

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

2017

2018

% Change

$871,100

$834,945

-4.2%

$273

$248

-9.2%

41

135

229.3%

$1,100,000

$1,100,000

0.0%

5

3

-40.0%

97.1%

80.7%

-16.9%

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SHADOW MOUNTAIN January through September

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

Average Price

2017

$499,128

-6.8%

$291

$268

-7.7%

49

24

-51.0%

$1,260,000

$772,500

-38.7%

15

10

-33.3%

97.1%

97.4%

0.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$535,547

Average Price per Square Foot

Highest Price

2018

SODA CREEK January through September Average Price

2017

$1,373,933

-10.7%

$331

$329

-0.7%

163

133

-18.4%

$3,000,000

$2,212,500

-26.3%

14

12

-14.3%

93.3%

93.9%

0.6%

Average Days on Market

Properties Sold % Sold Price to List Price

4.7%

January through September 2018, the percent sold price to list price in the neighborhood of Spring Ranch increased by 4.7% compared to that of 2017.

% Change

$1,538,893

Average Price per Square Foot

Highest Price

2018

SPRING RANCH January through September

2017

Average Price

$1,553,333

$1,253,904

-19.3%

$398

$396

-0.4%

318

81

-74.5%

$2,100,000

$1,500,925

-28.5%

3

6

100.0%

92.6%

96.9%

4.7%

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

2018

% Change

MICROMARKET REPORT | Foothills livsothebysrealty.com

JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM

TANOA January through September Average Price

2017

$985,400

35.5%

$297

$352

18.3%

34

30

-11.8%

$1,000,000

$1,375,000

37.5%

7

5

-28.6%

97.7%

98.6%

0.9%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$727,286

Average Price per Square Foot

Highest Price

2018

35.5%

The average price in the neighborhood of Tanoa increased by 35.5% January through September 2018 compared to that of 2017.

UPPER BEAR CREEK January through September

2017

Average Price

$1,187,094

$1,084,000

-8.7%

$609

$368

-39.5%

64

62

-3.1%

$1,860,000

$2,150,000

15.6%

2

7

250.0%

93.7%

97.1%

3.7%

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

2018

NUMBER OF STUDENTS PER TEACHER IN EVERGREEN: 18

% Change

PERCENTAGE OF HOME APPRECIATION 2017-18: 9%

AVERAGE COMMUTE TIME TO METRO DENVER: 30 MINUTES

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coloradomicroreports.com | livsothebysrealty.com 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.