Foothills | Q3 2020
Nestled at the base of the Rocky Mountains is the gorgeous Foothills community. This region, which is known for its natural beauty and proximity to the mountains, is where you’ll find amazing homes with access to open space, incredible views, and lifestyle-focused living. The Foothills, within Jefferson County, incorporates 20 different neighborhoods, such as Genesee, Hiwan Hills, and Lookout Mountain, that offer residents the chance to live among nature without being too far from urban shopping and dining options. As consumers shift their buying preferences to prioritize homes that allow them to socially distance in comfort and style, real estate activity in the Foothills has seen positive growth.
LIV Sotheby’s International Realty produces a Foothills Micro Market Report comparing real estate metrics from January through September of 2020 to the same time period in 2019. During this time frame, Jefferson County as a whole has seen a 3.5% increase in sold listings and a 7% increase in average home prices. Through Q3 of this year, the average cost of a home in the Foothills was $511,671. The demand for homes in the area is illustrated by the decrease in average days on market which fell by 8%, bringing the number of days homes in this community typically spend on the market to 23 days.
Many communities within the Foothills saw average home prices rise through September due to increased demand. Homes in the Soda Creek neighborhood increased in average price by 34.6%, bringing the average price for homes in the area to $1,694,041. Average prices also rose in Lookout Mountain and Hiwan Country Club, increasing by 21.7% and 12.3% respectively.
The average days on market decreased significantly for several neighborhoods within the Foothills, showing that buyers are willing to act fast to purchase the homes they really want. In Evergreen Highlands, the average days on market dropped by 64.7%, from 17 days to an astonishing six days on market. Bear Mountain also experienced a dramatic decrease, falling 41% from 134 days on market to 79 days on market.
The Foothills community is a sanctuary for those looking for space and serenity near both the city and the mountains. This unique balance makes the community a wonderful place to buy and sell real estate.
This Colorado Micro Market Report Includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Bear Mountain, Brook Forest, Conifer Mountain, Evergreen Highlands, Evergreen Meadows, Evergreen Meadows West, Evergreen Valley Estates, Genesee, Hangen Ranch, Hiwan Country Club, Hiwan Hills, Lookout Mountain, Mt. Vernon Country Club, Ridge at Hiwan, Riva Chase, Shadow Mountain, Soda Creek, Spring Ranch, Tanoa, and Upper Bear Creek.