West Metro Mid-Year, 2018 Micro Market Report

MICROMARKET REPORT |

West Metro • Mid-Year 2018

WEST METRO NEIGHBORHOODS

12

6 7 5

1

8

11

13 14

16

10 15 19

17 18

2 3 20 4

9

1. Canyon Point 2. Mesa Meadows 3. Golden Incorporated 4. Eagle Ridge 5. Table Rock 6. Spring Mesa 7. Trail Village 8. Fieldstone 9. Mesa View Estates 10. Sunrise Ridge 11. West Woods 12. Village of Five Parks 13. Candelas 14. Leyden Rock 15. Ryan Ranch 16. Alkire Estates 17. Oak Park 18. Skyline Estates 19. Gardens at Table Mountain 20. Applewood

Pictured on cover: 1552 Jesse Lane, Golden

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WEST METRO market update Located just west of Denver, the West Metro area offers a diversified geographic setting that includes urban and rural lifestyle opportunities and thriving communities including Lakewood, Arvada, and Golden. The added convenience of being located just minutes away from downtown Denver, in close proximity to abundant cultural, recreational and entertainment offerings, makes the region a popular place to live for families and professionals of all ages.

The West metro area provides a diverse industry base, with employment opportunities in aerospace, aviation, bioscience, and energy, that draws a large labor pool of highly skilled workers to the area and contributes to West Metro being one of the largest population centers in the state.

Mid-Year 2018 Highlights: • Village of Five Parks’ average price is $572,432

6.8%

Evidence of the West Metro area’s thriving real estate market can be seen in LIV Sotheby’s International Realty’s Mid-Year Micro Market Report, which compares 2018 January through June statistics to that of 2017, for single family homes and attached dwellings.

• Mesa View Estates’ average price is $732,615

6.3%

• Trail Village’s average price is $752,681

15.6%

• West Wood’s average price is $671,994

10.8%

Evidence of West Metro’s micro market growth include statistics showing the Village of Five Parks neighborhood’s average price rising to $572,432 up 6.8% year-over-year from 2017. Mesa View Estates’ average price rose to $732,615, up 6.3% from 2017. Trail Village’s average price rose to $752,681, a significant 15.6% increase year-over-year, and West Wood’s average price rose to $671,994 up 10.8% year-over-year, from 2017.

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 | West Metro MID -YEAR 2018 • COLORADOMICROREPORTS.COM

ALKIRE ESTATES January through June

2017

2018

% Change

Average Price

-

$795,000

-

Average Price per Square Foot

-

$196

-

Average Days on Market

-

2

-

Highest Price

-

$795,000

-

No Sales

1

-

-

101.3%

-

Properties Sold % Sold Price to List Price

APPLEWOOD January through June Average Price

2017

$586,945

0.5%

$295

$336

14.0%

29

26

-10.3%

$1,760,000

$1,430,000

-18.8%

59

62

5.1%

97.1%

98.3%

1.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$583,915

Average Price per Square Foot

Highest Price

2018

14.0%

January through June 2018, the average price per square foot in the neighborhood of Applewood increased by 14% compared to that of 2017.

CANDELAS January through June

2017

Average Price

$564,608

$579,663

2.7%

$203

$221

9.0%

148

90

-39.2%

$1,099,900

$1,025,000

-6.8%

46

75

63.0%

97.5%

98.8%

1.3%

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

2018

% Change

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CANYON POINT Canyon Point is located just north of Golden near many restaurants and shops, and boasts sweeping views of Colorado’s foothills.

January through June

2017

Average Price

$685,000

$768,667

12.2%

$313

$353

12.8%

23

3

-87.0%

$840,000

$965,000

14.9%

4

3

-25.0%

97.3%

98.6%

1.3%

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

2018

% Change

EAGLE RIDGE January through June Average Price

2017

$557,500

33.0%

$220

$351

59.4%

70

4

-94.3%

$625,000

$675,000

8.0%

3

4

33.3%

96.7%

102.1%

5.6%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$419,300

Average Price per Square Foot

Highest Price

2018

FIELDSTONE January through June

Fieldstone is a family-friendly community within Arvada that borders Long Lake Regional Park, offering residents easy access to many recreational trails.

2017

2018

% Change

Average Price

-

$616,875

-

Average Price per Square Foot

-

$232

-

Average Days on Market

-

42

-

Highest Price

-

$692,500

-

No Sales

4

-

-

98.8%

-

Properties Sold % Sold Price to List Price

MICROMARKET REPORT | West Metro livsothebysrealty.com

MID -YEAR 2018 • COLORADOMICROREPORTS.COM

VILLAGE AT FIVE PARKS January through June Average Price

2017

$572,432

6.8%

$215

$223

3.8%

35

15

-57.1%

$710,000

$660,000

-7.0%

26

17

-34.6%

98.1%

99.8%

1.8%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$535,904

Average Price per Square Foot

Highest Price

2018

6.8%

The average price in the neighborhood of The Village at Five Parks increased by 6.8% January through June 2018 compared to that of 2017.

GARDENS AT TABLE MOUNTAIN January through June

2017

2018

Average Price

$965,500

$842,500

-12.7%

$370

$304

-17.8%

102

27

-73.5%

$1,206,000

$1,000,000

-17.1%

2

2

0.0%

96.4%

98.2%

1.8%

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

% Change

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

2017

2018

% Change

$548,704

$598,316

9.0%

$330

$383

15.9%

21

22

4.8%

$1,200,000

$1,100,000

-8.3%

75

71

-5.3%

100.0%

100.3%

0.3%

Golden is conveniently located near I-70, offering quick access to both metro Denver and Colorado’s world-class ski resorts.

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LEYDEN ROCK January through June Average Price

2017

$615,497

12.8%

$223

$238

6.3%

113

88

-22.1%

$830,000

$1,004,076

21.0%

72

61

-15.3%

97.9%

98.9%

1.0%

Average Days on Market

Properties Sold % Sold Price to List Price

5.1%

January through June 2018, the highest price in the neighborhood of Mesa Meadows increased by 5.1% compared to that of 2017.

% Change

$545,482

Average Price per Square Foot

Highest Price

2018

MESA MEADOWS January through June Average Price

2017

$815,167

-2.0%

$412

$314

-23.7%

37

30

-18.9%

$885,000

$930,000

5.1%

2

3

50.0%

96.2%

96.6%

0.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$832,063

Average Price per Square Foot

Highest Price

2018

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

2017

2018

% Change

$688,873

$732,615

6.3%

$241

$234

-2.8%

26

168

546.2%

$850,000

$825,000

-2.9%

11

13

18.2%

98.6%

95.5%

-3.1%

MICROMARKET REPORT | West Metro livsothebysrealty.com

MID -YEAR 2018 • COLORADOMICROREPORTS.COM

OAK PARK January through June Average Price

2017

% Change

$321,250

$487,833

51.9%

$166

$227

37.1%

23

11

-52.2%

$322,500

$540,000

67.4%

2

5

150.0%

96.6%

96.8%

0.2%

Average Price per Square Foot Average Days on Market Highest Price

2018

Properties Sold % Sold Price to List Price

RYAN RANCH January through June Average Price

2017

% Change

$615,250

$636,667

3.5%

$209

$239

14.7%

115

27

-76.5%

$637,000

$680,000

6.8%

4

3

-25.0%

96.4%

98.9%

2.7%

Average Price per Square Foot Average Days on Market Highest Price

2018

Properties Sold % Sold Price to List Price

14.7%

The average price per square foot for the neighborhood of Ryan Ranch increased by 14.7% January through June 2018 compared to that of 2017.

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

2017

2018

% Change

$539,638

$544,167

0.8%

$223

$248

11.6%

23

17

-26.1%

$575,000

$565,000

-1.7%

8

6

-25.0%

98.3%

99.4%

1.1%

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20.1%

January through June 2018, the average price per square foot in the neighborhood of Spring Mesa increased by 20.1% compared to that of 2017.

SPRING MESA January through June

2017

Average Price

$800,688

$810,000

1.2%

$234

$281

20.1%

42

8

-81.0%

$930,000

$887,000

-4.6%

8

8

0.0%

98.2%

99.4%

1.3%

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

2018

% Change

SUNRISE RIDGE January through June Average Price

2017

$618,667

2.1%

$218

$234

7.4%

14

7

-50.0%

$694,000

$636,000

-8.4%

9

4

-55.6%

99.5%

100.3%

0.8%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$605,851

Average Price per Square Foot

Highest Price

2018

TABLE ROCK January through June Average Price

Table Rock is a newly developed community, offering ranch-style and two-story residences at the base of Table Rock Mountain.

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

2017

2018

% Change

$794,050

$801,082

0.9%

$258

$251

-2.5%

25

35

40.0%

$863,000

$975,000

13.0%

8

11

37.5%

98.0%

98.0%

0.0%

MICROMARKET REPORT | West Metro livsothebysrealty.com

MID -YEAR 2018 • COLORADOMICROREPORTS.COM

TRAIL VILLAGE January through June Average Price

2017

% Change

$651,094

$752,681

15.6%

$222

$273

22.8%

29

17

-41.4%

$1,340,000

$1,050,000

-21.6%

5

8

60.0%

96.4%

102.4%

6.2%

Average Price per Square Foot Average Days on Market Highest Price

2018

Properties Sold % Sold Price to List Price

WESTWOOD January through June Average Price

2017

% Change

$606,411

$671,994

10.8%

$244

$260

6.4%

24

19

-20.8%

$1,340,000

$1,050,000

-21.6%

46

42

-8.7%

99.3%

100.4%

1.1%

Average Price per Square Foot Average Days on Market Highest Price

2018

Properties Sold % Sold Price to List Price

NUMBER OF DAYS OF SUNSHINE: 300

10.8%

January through June 2018, the average price in the neighborhood of West Woods increased by 10.8% compared to that of 2017.

NUMBER OF CRAFT BREWERIES IN GOLDEN: 7

DESIGNATED ACRES FOR PARKS IN ARVADA: 3,400

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DESIGN.

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SHOP.

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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.