West Metro Year End 2020 Micro Market Reports

MICROMARKET REPORT

WEST METRO | YEAR END 2020

WEST METRO

NEIGHBORHOODS 1. Alkire Estates

4

2. Applewood

8

11

3. Arvada

1

15

19

4. Candelas (arrow up) 5. Canyon Point 23

6. Eagle Ridge 7. Fieldstone

24 7 20 16

8. Village of Five Parks 21

9. City of Golden Proper

3 17

14

10. Green Mountain Village 11. Leyden Rock 12

12. Mesa Meadows 13. Mesa View Estates

5

9

14. North Table Mountain Village

2

15. Oak Park 16. Ryan Ranch 17. Skyline Estates 18. Solterra 19. Spring Mesa

6 13

20. Sunrise Ridge 21. Table Rock 10

22. Tamarisk 23. Trail Village

18

24. Westwoods 22 Pictured on cover: 13120 W 9th Avenue, Golden

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WEST METRO MARKET UPDATE Jefferson County, which comprises the West Metro community, is strategically located to give residents the best of two worlds.

Nestled between the Mile High City and the Rocky Mountain foothills, these 24 communities enjoy easy access to hundreds of acres of open space as well as charming main streets that harken back to simpler times…yet they are still just a short distance from Denver’s big-city amenities.

In light of the challenges we’ve all faced this past year, many home buyers across the nation began searching for properties in capacious suburban areas just like this, in communities that not only bridge city and rural living, but that embrace it. Real estate performance in Denver’s West Metro neighborhood proves that if you know where to look, you really can have it all.

LIV Sotheby’s International Realty produces a Micro Market Report focused on the West Metro market and its performance of 2020 compared to 2019. Health-focused amenities, such as the more than 250 miles of trails that wind throughout Jefferson County, are just one of many reasons why homebuyers prioritized West Metro in 2020. Neighborhoods in this community saw a whopping 25.7% increase in total dollar volume sold over the course of last year.

Overall, the number of homes sold in this region increased by 15.4%, and average sold prices increased by 8.9%, rising from $479,000 in 2019 to $521,704 in 2020. The average cost of a single family home rose as well—from $537,383 to $588,734—to claim a 9.6% increase. Average days on market for West Metro homes decreased by five days, or 18.5%, proving that demand and market activity in this area remain robust.

JEFFERSON COUNTY January through December

2019

2020

% Change

New Listings

11,935

12,587

5.5%

Sold Listings (All Properties)

10,267

11,844

15.4%

Average Price (All Properties)

$479,000

$521,704

8.9%

Average Price (Single Family)

$537,383

$588,734

9.6%

Average Days on Market 27 22 -18.5% Several West Metro communities enjoyed price increases in 2020 as compared to 2019, especially % Sold Price to Original List Price 99.0% 100.0% 1.0% for newer, larger estates in established communities Total Dollar Volume Sold $4,915,019,905 $6,179,064,970 25.7% like Golden and Arvada, where prices rose by 10.9% and 9.5% respectively. The average price of a home in the Eagle Ridge neighborhood, for example, was 23% higher than in 2019, coming in a close second to Alkire Estates (23.6%), Alkire Estates also saw an impressive 43.9% gain in price per square foot, up from $228 in 2019 to $328 in 2020.

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, Solterra, a newer neighborhood located between Green Mountain and Bear Creek Lake Park, saw a 34.8% rise in home sales, from 69 listings sold in 2019 to 93 homes sold in 2020. One of the most significant gains was seen in North Table Mountain Village, where homes sold rose by 250%, from four to 14 homes.

As more consumers make open space and majestic views a lifestyle priority, the West Metro area will continue to attract buyers and reward sellers.

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 | West Metro livsothebysrealty.com

JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM

ALKIRE ESTATES January through December

Residents love Alkire

Average Price

Estates because of the vast

Average Price per Square Foot

green open space as well as

Average Days on Market

nearby Standley Lake and

Highest Price

Standley Lake State Park.

Properties Sold % Sold Price to List Price

2019

2020

% Change

$942,500

$1,165,000

23.6%

$228

$328

43.9%

28

46

64.3%

$1,035,000

$1,225,000

18.4%

2

3

50.0%

98.1%

92.0%

-6.3%

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

2019

2020

% Change

$622,128

$715,746

15.0%

$338

$382

12.8%

35

21

-40.0%

$1,300,000

$3,275,000

151.9%

134

140

4.5%

96.5%

99.3%

2.9%

2208 Zinnia Way, Golden

39.4%

The average days on market in Arvada decreased by 39.4% January through December 2020 compared to that of 2019.

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

2019

2020

% Change

$459,035

$502,507

9.5%

$283

$304

7.5%

33

20

-39.4%

$1,230,000

$1,490,000

21.1%

2653

3,060

15.3%

98.1%

130.7%

33.2%

coloradomicroreports.com

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

2019

2020

% Change

$591,078

$630,233

6.6%

$234

$249

6.5%

55

44

-20.0%

22.6%

$1,215,000

$1,490,000

22.6%

The highest price in the area of Candelas increased

162

196

21.0%

by 22.6% January through December 2020

97.6%

99.3%

1.8%

compared to that of 2019.

CANYON POINT January through December

Canyon Point is located

Average Price

just north of Golden near many restaurants

Average Price per Square Foot

and shops and boasts

Average Days on Market

sweeping views of

Highest Price

Colorado’s foothills.

Properties Sold % Sold Price to List Price

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

2019

2020

% Change

$792,500

$974,833

23.0%

$318

$371

16.8%

16

3

-81.3%

$810,000

$1,260,000

55.6%

2

6

200.0%

98.4%

103.1%

4.8%

2019

2020

% Change

$924,250

$828,188

-10.4%

$363

$372

2.5%

21

11

-47.6%

$1,100,000

$915,000

-16.8%

8

8

0.0%

99.4%

101.3%

1.8%

16.8% The average price per square foot in the neighborhood of Eagle Ridge increased by 16.8% January through December 2020 compared to that of 2019.

MICROMARKET REPORT | West Metro livsothebysrealty.com

JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM

FIELDSTONE

15.8%

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

The average price per square foot in Fieldstone

Highest Price

increased by 15.8% January through December

Properties Sold

2020 compared to that of 2019.

% Sold Price to List Price

2019

2020

% Change

$692,108

$681,917

-1.5%

$241

$279

15.8%

33

28

-15.2%

$779,500

$750,000

-3.8%

6

12

100.0%

98.0%

97.9%

-0.1%

VILLAGE OF FIVE PARKS January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$607,824

$638,248

5.0%

Village of Five Parks is

$245

$247

1.0%

an award-winning, green

20

22

10.0%

$795,000

$810,000

1.9%

33

27

-18.2%

98.7%

100.5%

1.8%

32.4%

The average days on market in the City of Golden

community located in Arvada. It’s located 15 minutes to I-70 and seven minutes to Highway 93.

CITY OF GOLDEN PROPER January through December Average Price Average Price per Square Foot Average Days on Market

Proper decreased by 32.4% January through

Highest Price

December 2020 compared to that of 2019.

Properties Sold % Sold Price to List Price

2019

2020

% Change

$631,726

$700,828

10.9%

$400

$414

3.5%

34

23

-32.4%

$1,797,500

$2,150,000

19.6%

181

197

8.8%

98.4%

99.5%

1.2%

coloradomicroreports.com

GREEN MOUNTAIN VILLAGE January through December Average Price

2019

2020

% Change

$466,120

$500,906

7.5%

$322

$331

2.6%

21

12

-42.9%

$592,500

$679,000

14.6%

123

125

1.6%

98.5%

100.2%

1.8%

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

42.9%

The average days on market in Green Mountain Village decreased by 42.9% January through December 2020 compared to that of 2019.

LEYDEN ROCK January through December

Leyden Rock was created to

Average Price

be sensitive to the unique

Average Price per Square Foot

beauty of the area; including

Average Days on Market

conserving the landforms

Highest Price

and protecting the Barbara

Properties Sold

Gulch Open Space.

% Sold Price to List Price

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

2019

2020

% Change

$611,514

$629,944

3.0%

$247

$268

8.3%

58

34

-41.4%

$975,000

$965,000

-1.0%

133

126

-5.3%

96.8%

98.6%

1.9%

50.0%

2019

2020

% Change

$846,599

$960,141

13.4%

$440

$444

0.8%

20

18

-10.0%

$1,285,000

$1,330,000

3.5%

The number of properties sold in the neighborhood

8

12

50.0%

of Mesa Meadows increased by 50.0% January

99.4%

99.0%

-0.3%

through December 2020 compared to that of 2019.

MICROMARKET REPORT | West Metro livsothebysrealty.com

JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM

MESA VIEW ESTATES January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$855,385

$870,431

1.8%

$266

$267

0.2%

32

25

-21.9%

$1,150,000

$1,270,000

10.4%

13

24

84.6%

96.4%

96.7%

0.3%

16218 W Ellsworth Drive, Golden

NORTH TABLE MOUNTAIN VILLAGE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

250%

2019

2020

% Change

$644,524

$709,764

10.1%

$354

$304

-13.9%

7

20

185.7%

The number of properties sold in North Table

$725,000

$835,000

15.2%

Mountain Village increased by 250.0% January

4

14

250.0%

through December 2020 compared to that of 2019.

99.3%

99.9%

0.6%

OAK PARK January through December

Oak Park is a suburban

Average Price

neighborhood located in

Average Price per Square Foot

Arvada and contains both

Average Days on Market

single-family homes and

Highest Price

apartments.

Properties Sold % Sold Price to List Price

2019

2020

% Change

$526,723

$613,944

16.6%

$272

$313

14.9%

30

51

70.0%

$635,000

$826,000

30.1%

13

9

-30.8%

98.1%

99.3%

1.3%

coloradomicroreports.com

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

2019

2020

% Change

$716,725

$722,843

0.9%

Ryan Ranch is a subdivision

$250

$298

19.0%

in Golden, surrounded by

12

19

58.3%

parks and within close

$750,000

$799,900

6.7%

proximity to the popular

8

7

-12.5%

Long Lake Regional Park.

99.6%

98.9%

-0.7%

47.6%

The average days on market in Skyline Estates

SKYLINE ESTATES January through December Average Price Average Price per Square Foot Average Days on Market

decreased by 47.6% January through December

Highest Price

2020 compared to that of 2019.

Properties Sold % Sold Price to List Price

2019

2020

% Change

$641,613

$632,953

-1.3%

$251

$257

2.5%

21

11

-47.6%

$1,400,000

$805,000

-42.5%

16

16

0.0%

99.4%

100.3%

0.8%

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

2019

2020

% Change

$854,544

$830,758

-2.8%

$341

$347

1.6%

41

45

9.8%

$1,890,000

$1,325,000

-29.9%

69

93

34.8%

97.2%

97.5%

0.2%

15362 W Evans Drive, Lakewood

MICROMARKET REPORT | West Metro livsothebysrealty.com

JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM

61.9%

The average days on market in Spring Mesa

decreased by 61.9% January through December 2020 compared to that of 2019.

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

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

2019

2020

% Change

$830,300

$925,562

11.5%

$290

$285

-1.8%

21

8

-61.9%

$920,000

$1,275,000

38.6%

15

16

6.7%

97.9%

100.5%

2.6%

13.9%

2019

2020

% Change

$680,500

$723,573

6.3%

$266

$266

0.3%

13

30

130.8%

$775,000

$882,800

13.9%

The highest price in Sunrise Ridge increased

13

11

-15.4%

by 13.9% January through December 2020

99.5%

100.1%

0.6%

compared to that of 2019.

TABLEROCK Tablerock is a newly

January through December

developed community,

Average Price

offering ranch-style and

Average Price per Square Foot

two-story residences at

Average Days on Market

the base of Table Rock

Highest Price

Mountain and north of

Properties Sold

downtown Golden.

% Sold Price to List Price

2019

2020

% Change

$888,540

$909,692

2.4%

$294

$307

4.2%

16

7

-56.3%

$990,000

$1,007,500

1.8%

10

6

-40.0%

99.1%

98.6%

-0.4%

coloradomicroreports.com

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

2019

2020

% Change

$751,128

$773,675

3.0%

Tamarisk offers close

$238

$262

10.2%

proximity to some of

25

14

-44.0%

Colorado’s best amenities,

$907,500

$810,000

-10.7%

including Red Rocks and

9

5

-44.4%

Dinosaur Ridge Park.

97.4%

99.7%

2.4%

21.8%

TRAIL VILLAGE January through December Average Price Average Price per Square Foot Average Days on Market

The average price in Trail Village increased

Highest Price

by 21.8% January through December 2020

Properties Sold

compared to that of 2019.

% Sold Price to List Price

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

2019

2020

% Change

$690,780

$719,103

4.1%

$277

$293

5.6%

28

15

-46.4%

$1,230,000

$1,185,000

-3.7%

41

44

7.3%

97.9%

101.0%

3.2%

2019

2020

% Change

$626,231

$762,567

21.8%

$245

$259

5.6%

24

28

16.7%

$915,000

$954,900

4.4%

5

6

20.0%

97.6%

98.6%

1.0%

46.4% The average days on market in Westwoods

decreased by 46.4% January through December 2020 compared to that of 2019.

MICROMARKET REPORT | West Metro livsothebysrealty.com

JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM

The life you love.

livsothebysrealty.com | coloradomicroreports.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.