QUARTER 1 2022
Micro Market Report WEST METRO
1384 Lupine Way
5976 Stone Gate Drive
West Metro MARKET UPDATE
Just outside of Denver, the West Metro community offers the chance to live in a variety of neighborhoods suitable for every lifestyle within reach of the excitement of the city and the serenity of the mountains. This area within Jefferson County is a suburban haven located minutes from downtown Denver that boasts all of the food, fun, and adventure that homebuyers are looking for with more room and affordability than downtown living. LIV Sotheby’s International Realty produces a Micro Market Report focused on the West Metro market and its performance from January through March of 2022 compared to the same time frame in 2021. So far this year, West Metro has seen average home prices appreciate by 21% to reach an average price of $682,022. Homes in this area sold for 105.3% of the original list price through March of this year. These increases resulted in a 12.6% boost in the overall dollar volume sold, totaling $1,314,938,662 so far this year. Several West Metro communities enjoyed price appreciation through the first quarter of the year as compared to the same period last year. The City of Golden, a community where history and exciting recreation and entertainment options meet, saw home prices rise by 36.8% to reach an average price of $940,629. Arvada and Mesa View Estates also saw appreciating home prices. Average sale prices in these communities rose by 22.5% and 36.3% respectively to reach $660,393 and $1,298,000.
from two sales through March of 2021 to three sales through March of 2022. Arvada, the community which had the most homes sold through Q1 in West Metro, saw a 2.7% increase in property sales – totaling 561 homes sold. The City of Golden maintained the same level of property sales through Q1 of this year as it did in Q1 of last year, selling 35 homes in both periods. With unbeatable access to both the city and Colorado’s scenic natural spaces, West Metro will continue to provide homebuyers and sellers with unique opportunities to reach their real estate and lifestyle goals.
WEST METRO January through March
2021
2022
% Change
New Listings
2,431
2,424
-0.3%
2,080
1,928
-7.3%
Average Price (All Properties)
$563,770
$682,022
21.0%
Average Price (Single Family)
$657,800
$777,402
18.2%
17
12
-29.4%
102.1%
105.3%
3.1%
Sold Listings (All Properties)
Average Days on Market % Sold Price to Original List Price
Counties: Jefferson
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, Alkire Estates property sales rose by 50%, growing 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
WEST METRO NEIGHBORHOODS
1.
Alkire Estates
8. Village of Five Parks
14. North Table
19. Spring Mesa
2. Applewood
9. Golden
3. Arvada
10. Green Mountain Village
15. Oak Park
21. Table Rock
4. Candelas
11. Leyden Rock
16. Ryan Ranch
22. Tamarisk
5. Canyon Point
12. Mesa Meadows
17. Skyline Estates
23. Trail Village
6. Eagle Ridge
13. Mesa View Estates
18. Solterra
24. West Woods
7.
Mountain Village
20. Sunrise Ridge
Fieldstone
4 8
11
1 19 15
23 24 7 21
10
16
17
14
12 5
3
20
9 2 6 13 10
18 22
MICRO MARKET REPORT | West Metro livsothebysrealty.com
JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM
ALKIRE ESTATES ARVADA
APPLEWOOD
Alkire Estates offers custom homes on larger lots, typically around one-half acre and up. Residents love Alkire Estates because of the vast green open spaces, as well as nearby Standley Lake and Standley Lake State Park.
January through March
2021
2022
% Change
$1,342,500
$1,281,667
-4.5%
$354
$500
41.3%
29
31
6.9%
$1,385,000
$1,485,000
7.2%
2
3
50.0%
% Sold Price to List Price
95.1%
98.3%
3.3%
January through March
2021
2022
% Change
$844,712
$943,855
11.7%
$398
$547
37.5%
18
14
-22.2%
$2,700,000
$1,435,000
-46.9%
20
18
-10.0%
% Sold Price to List Price
101.5%
110.7%
9.1%
January through March
2021
2022
% Change
$539,224
$660,393
22.5%
$341
$411
20.5%
12
11
-8.3%
$2,075,000
$2,000,000
-3.6%
546
561
2.7%
103.4%
105.6%
2.1%
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
22.5%
The average home price in Arvada
increased by 22.5% in the first quarter of 2022 compared to that of 2021.
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
$711,127
$907,905
27.7%
$276
$331
19.9%
25
14
-44.0%
$1,000,000
$1,860,000
86.0%
20
21
5.0%
% Sold Price to List Price
99.8%
101.8%
2.0%
January through March
2021
2022
% Change
$1,115,000
$1,700,000
52.5%
$409
$625
52.9%
5
0
-100.0%
$1,115,000
$1,700,000
52.5%
1
1
0.0%
% Sold Price to List Price
101.4%
113.7%
12.2%
January through March
2021
2022
% Change
$1,001,333
-
-
$411
-
-
4
-
-
$1,325,000
-
-
3
No Sales
-
106.5%
-
-
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
52.5%
The average home price in Eagle Ridge
increased by 52.5% in the first quarter of 2022 compared to that of 2021.
A newer community, Eagle Ridge is comprised of three different neighborhoods with larger homes ranging from the mid 600’s to the 900’s that come in two-story, trilevel, and ranch style. Nearby there’s beautiful parks and trails, and a bike path that leads right to Golden.
EAGLE RIDGE
2022
CANYON POINT
2021
CANDELAS
January through March
FIELDSTONE VILLAGE OF FIVE PARKS GOLDEN
January through March
Fieldstone is a suburban neighborhood in the town of Arvada with close access to the shops of Olde Town Arvada.
Filled with beautiful and well maintained homes, Village of Five Parks is a prime Arvada location, just minutes from Colorado Highway 72.
2021
2022
% Change
Average Price
-
$1,500,000
-
Average Price Per Square Foot
-
$390
-
Average Days on Market
-
4
-
Highest Price
-
$1,500,000
-
No Sales
1
-
% Sold Price to List Price
-
122.5%
-
January through March
2021
2022
% Change
Average Price
-
$876,333
-
Average Price Per Square Foot
-
$328
-
Average Days on Market
-
3
-
Highest Price
-
$901,000
-
No Sales
5
-
% Sold Price to List Price
-
107.3%
-
January through March
2021
2022
% Change
$687,562
$940,629
36.8%
$446
$595
33.5%
19
5
-73.7%
$1,520,000
$1,700,000
11.8%
35
35
0.0%
100.1%
108.2%
8.1%
Properties Sold
Properties Sold
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
$542,773
$685,341
26.3%
$408
$448
9.7%
2
7
250.0%
$685,000
$1,125,000
64.2%
22
18
-18.2%
% Sold Price to List Price
105.8%
107.0%
1.1%
January through March
2021
2022
% Change
$765,141
$899,219
17.5%
$301
$364
20.7%
10
7
-30.0%
$1,125,000
$1,239,722
10.2%
27
17
-37.0%
% Sold Price to List Price
102.0%
106.7%
4.6%
January through March
2021
2022
% Change
Average Price
-
$1,586,250
-
Average Price Per Square Foot
-
$869
-
Average Days on Market
-
10
-
Highest Price
-
$1,675,000
-
No Sales
2
-
-
96.8%
-
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
Properties Sold % Sold Price to List Price
64.2%
The highest home price in Green Mountain Village increased by 64.2% in the first quarter of 2022 compared to that of 2021.
Located north of downtown Golden and backing up to North Table Mountain, Mesa Meadows is a popular neighborhood filled with a variety of different homes like large two-story, ranch style, and large custom homes.
MESA MEADOWS
2022
LEYDEN ROCK
2021
GREEN MOUNTAIN VILLAGE
January through March
MESA VIEW ESTATES NORTH TABLE MOUNTAIN VILLAGE
OAK PARK
January through March
2021
2022
% Change
$952,500
$1,298,000
36.3%
$290
$437
50.7%
12
4
-66.7%
$1,150,000
$1,346,000
17.0%
4
2
-50.0%
% Sold Price to List Price
98.9%
101.9%
3.0%
January through March
2021
2022
% Change
Average Price
-
$880,000
-
Average Price Per Square Foot
-
$493
-
Average Days on Market
-
1
-
Highest Price
-
$880,000
-
No Sales
1
-
% Sold Price to List Price
-
115.8%
-
January through March
2021
2022
% Change
Average Price
-
-
-
Average Price Per Square Foot
-
-
-
Average Days on Market
-
-
-
Highest Price
-
-
-
No Sales
No Sales
-
-
-
-
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
North Table Mountain Village, a subdivision in the town of Golden, is made up of about 140 single-family homes surrounded by plenty of parks. Nearby lies the picturesque Shiloh Farms Equestrian Center, perfect for horse enthusiasts.
Oak Park is a suburban neighborhood located in Arvada, contains both single-family homes and apartments. Inside the neighborhood lies the Oak Park, with playgrounds, fields, paved trails, sport courts, and a baseball diamond.
Properties Sold
Properties Sold % Sold Price to List Price
% Change
$815,000
$1,200,000
47.2%
$266
$428
61.0%
9
1
-88.9%
$815,000
$1,200,000
47.2%
1
2
100.0%
% Sold Price to List Price
95.9%
109.1%
13.8%
January through March
2021
2022
% Change
$733,500
$968,210
32.0%
$272
$439
61.5%
4
2
-50.0%
$782,500
$1,008,129
28.8%
2
3
50.0%
% Sold Price to List Price
103.6%
114.4%
10.5%
January through March
2021
2022
% Change
$960,458
$989,993
3.1%
$378
$489
29.4%
43
10
-76.7%
$1,434,600
$1,270,000
-11.5%
17
14
-17.6%
100.3%
104.9%
4.6%
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
61.5%
The average price per square foot in
Skyline Estates increased by 61.5% in the first quarter of 2022 compared to that of 2021.
Solterra is located between Green Mountain and Bear Creek Lake Park, with impressive views to the west of Red Rocks, Mount Morrison, and the Foothills.
SOLTERRA
2022
SKYLINE ESTATES
2021
RYAN RANCH
January through March
SPRING MESA SUNRISE RIDGE TABLE ROCK
57.4%
The average price per square foot in
Spring Mesa increased by 57.4% in the first quarter of 2022 compared to that of 2021.
Sunrise Ridge offers residents perfect suburban living in Arvada. Located about two miles away from both The Bibber Creek Stables as well as the West Woods Golf Course, Sunrise Ridge is perfect for those who enjoy their daily outdoor activities.
January through March
2021
2022
% Change
$1,125,000
$1,492,500
32.7%
$371
$584
57.4%
11
5
-54.5%
$1,295,000
$1,575,000
21.6%
2
2
0.0%
% Sold Price to List Price
102.2%
119.9%
17.3%
January through March
2021
2022
% Change
$773,129
-
-
$312
-
-
3
-
-
$852,500
-
-
4
No Sales
-
% Sold Price to List Price
104.4%
-
-
January through March
2021
2022
% Change
$710,000
$1,710,000
140.8%
$323
$487
51.0%
1
3
200.0%
$710,000
$1,710,000
140.8%
1
1
0.0%
101.4%
104.9%
3.4%
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2022
% Change
Average Price
-
$1,000,000
-
Average Price Per Square Foot
-
$338
-
Average Days on Market
-
2
-
Highest Price
-
$1,000,000
-
No Sales
1
-
% Sold Price to List Price
-
100.5%
-
January through March
2021
2022
% Change
Average Price
-
-
-
Average Price Per Square Foot
-
-
-
Average Days on Market
-
-
-
Highest Price
-
-
-
No Sales
No Sales
-
-
-
-
Properties Sold
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
2021
2022
% Change
$694,900
$1,554,633
123.7%
$322
$491
52.5%
5
11
120.0%
$912,000
$2,000,000
119.3%
5
3
-40.0%
102.5%
100.5%
-1.9%
WEST WOODS
January through March
Trail Village is a beautiful community in Arvada that runs along the Jefferson Country Open Space. Here you have close access to a variety of trails, as well as parks, the West Woods Golf Course.
TRAIL VILLAGE
2021
TAMARISK
January through March
Tamarisk is located in south Green Mountain, a Lakewood suburb. Tamarisk offers close proximity to some of Colorado’s best amenities, including Red Rocks Amphitheater, Bear Creek Lake Park, Dinosaur Ridge Park, and Morrison.
MICRO MARKET REPORT | West Metro JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM