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MICROMARKET REPORT |

West Metro • Quarter 1 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: 1874 South Foothills Drive, 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.

Quarter 1 2018 Highlights: • Village of Five Parks’ average price is $569,779

13.6%

Evidence of the West Metro area’s thriving real estate market can be seen in LIV Sotheby’s International Realty’s Quarter 1 Micro Market Report, which compares 2018 January through March statistics, to that of 2017, for single family homes and attached dwellings.

• Mesa Meadow’s average price is $815,167

4.6%

• Trail Village’s average price is $676,650

42.3%

• West Wood’s average price is $597,750

10.1%

Evidence of West Metro’s micro market growth include statistics showing the Village of Five Parks neighborhood’s average price rising to $569,779 up 13.6% year-over-year from 2017. Mesa Meadow’s average price rose to $815,167, up 4.6% from 2017. Trail Village’s average price rose to $676,650 a signficant 42.3% increase year-over-year, and West Wood’s average price rose to $597,750 up 10.1% 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 QUARTER 1 2018 • COLORADOMICROREPORTS.COM


ALKIRE ESTATES January through December

2017

2018

% Change

Average Price

-

-

-

Average Price per Square Foot

-

-

-

Average Days on Market

-

-

-

Highest Price

-

-

-

No Sales

No Sales

-

-

-

-

Properties Sold % Sold Price to List Price

APPLEWOOD January through December Average Price

2017

$520,214

-1.3%

$270

$306

13.6%

37

36

-2.7%

$825,000

$915,000

10.9%

21

20

-4.8%

95.6%

97.0%

1.5%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$527,112

Average Price per Square Foot

Highest Price

2018

13.6%

January through March 2018, the average price per square foot in the neighborhood of Applewood increased by 13.6% compared to that of 2017.

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

2017

2018

% Change

$552,045

$557,266

0.9%

$200

$216

8.3%

232

108

-53.4%

$764,039

$749,095

-2.0%

19

31

63.2%

97.7%

98.4%

0.7%

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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 December

2017

2018

Average Price

$695,000

$965,000

38.8%

$343

$382

11.6%

5

2

-60.0%

$840,000

$965,000

14.9%

2

1

-50.0%

102.0%

98.6%

-3.4%

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

% Change

EAGLE RIDGE January through December Average Price

2017

$819,167

42.5%

$268

$310

15.5%

99

60

-39.4%

$625,000

$875,000

40.0%

2

3

50.0%

96.4%

99.0%

2.6%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$575,000

Average Price per Square Foot

Highest Price

2018

FIELDSTONE January through December

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

-

$610,250

-

Average Price per Square Foot

-

$227

-

Average Days on Market

-

77

-

Highest Price

-

$692,500

-

No Sales

2

-

-

96.1%

-

Properties Sold % Sold Price to List Price

MICROMARKET REPORT | West Metro livsothebysrealty.com

QUARTER 1 2018 • COLORADOMICROREPORTS.COM


VILLAGE AT FIVE PARKS January through December Average Price

2017

$569,779

13.6%

$223

$235

5.5%

35

19

-45.7%

$640,000

$660,000

3.1%

9

7

-22.2%

98.1%

99.9%

1.8%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$501,777

Average Price per Square Foot

Highest Price

2018

13.6%

The average price in the neighborhood of The Village at Five Parks increased by 13.6% January through March 2018 compared to that of 2017.

GARDENS AT TABLE MOUNTAIN January through December Average Price

2017

$680,981

14.3%

$242

$274

13.1%

155

11

-92.9%

$719,000

$718,962

0.0%

4

2

-50.0%

97.7%

99.1%

1.5%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$595,907

Average Price per Square Foot

Highest Price

2018

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

2017

2018

% Change

$524,585

$595,431

13.5%

$324

$386

19.0%

25

34

36.0%

$885,000

$965,000

9.0%

31

29

-6.5%

99.3%

100.0%

0.8%

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 December Average Price

2017

$580,626

13.2%

$216

$224

3.5%

88

103

17.0%

$640,061

$968,000

51.2%

28

27

-3.6%

97.9%

98.2%

0.3%

Average Days on Market

Properties Sold % Sold Price to List Price

4.6%

January through March 2018, the average price in the neighborhood of Mesa Meadows increased by 4.6% compared to that of 2017.

% Change

$513,127

Average Price per Square Foot

Highest Price

2018

MESA MEADOWS January through December Average Price

2017

$815,167

4.6%

$436

$315

-27.8%

66

30

-54.5%

$779,125

$930,000

19.4%

1

3

200.0%

91.7%

96.6%

5.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$779,125

Average Price per Square Foot

Highest Price

2018

MESA VIEW ESTATES January through December

2017

2018

Average Price

$624,000

$704,000

12.8%

$217

$235

8.5%

40

163

307.5%

$720,000

$820,000

13.9%

4

5

25.0%

96.1%

93.8%

-2.4%

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

% Change

MICROMARKET REPORT | West Metro livsothebysrealty.com

QUARTER 1 2018 • COLORADOMICROREPORTS.COM


OAK PARK January through December

2017

2018

% Change

Average Price

-

$482,400

-

Average Price per Square Foot

-

$219

-

Average Days on Market

-

13

-

Highest Price

-

$540,000

-

No Sales

5

-

-

96.1%

-

Properties Sold % Sold Price to List Price

RYAN RANCH January through December Average Price

2017

% Change

$613,667

$615,000

0.2%

$207

$248

19.9%

152

38

-75.0%

$637,000

$640,000

0.5%

3

2

-33.3%

95.7%

98.4%

2.9%

Average Price per Square Foot Average Days on Market Highest Price

2018

Properties Sold % Sold Price to List Price

19.9%

The average price per square foot for the neighborhood of Ryan Ranch increased by 19.9% January through March 2018 compared to that of 2017.

SKYLINE ESTATES January through December

2017

Average Price

$500,000

$454,625

-9.1%

$198

$242

21.9%

91

23

-74.7%

$500,000

$565,000

13.0%

1

4

300.0%

92.6%

100.1%

8.1%

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

2018

% Change

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17.4%

January through March 2018, the average price per square foot in the neighborhood of Spring Mesa increased by 17.4% compared to that of 2017.

SPRING MESA January through December

2017

Average Price

$852,500

$792,000

-7.1%

$215

$253

17.4%

63

11

-82.5%

$865,000

$820,000

-5.2%

2

4

100.0%

98.0%

99.1%

1.1%

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

2018

% Change

SUNRISE RIDGE January through December Average Price

2017

$636,000

-6.3%

$205

$228

11.3%

15

15

0.0%

$679,000

$636,000

-6.3%

1

1

0.0%

100.0%

97.9%

-2.2%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$679,000

Average Price per Square Foot

Highest Price

2018

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

January through December

2017

Average Price

$832,500

$758,333

-8.9%

$326

$238

-27.0%

59

86

45.8%

$860,000

$785,000

-8.7%

3

3

0.0%

96.0%

96.8%

0.8%

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

2018

% Change

MICROMARKET REPORT | West Metro livsothebysrealty.com

QUARTER 1 2018 • COLORADOMICROREPORTS.COM


TRAIL VILLAGE January through December Average Price

2017

% Change

$475,667

$676,650

42.3%

$211

$271

28.5%

33

35

6.1%

$507,000

$960,000

89.3%

3

3

0.0%

96.2%

101.9%

5.9%

Average Price per Square Foot Average Days on Market Highest Price

2018

Properties Sold % Sold Price to List Price

WEST WOODS January through December Average Price

2017

% Change

$543,030

$597,750

10.1%

$219

$262

19.9%

31

24

-22.6%

$670,000

$960,000

43.3%

10

11

10.0%

98.4%

99.9%

1.5%

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

10.1%

January through March 2018, the average price in the neighborhood of West Woods increased by 10.1% compared to that of 2017.

NUMBER OF CRAFT BREWERIES IN GOLDEN: 7

DESIGNATED ACRES FOR PARKS IN ARVADA: 3,400

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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.

West Metro Q1, 2018 Micro Market Report  
West Metro Q1, 2018 Micro Market Report