West Metro | Year End 2020
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.
Several West Metro communities enjoyed price increases in 2020 as compared to 2019, especially for newer, larger estates in established communities 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.
This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Alkire Estates, Applewood, Arvada, Candelas, Canyon Point, Eagle Ridge, Fieldstone, Gardens at Table Mountain, Golden Incorporated, Leyden Rock, Mesa Meadows, Mesa View Estates, Oak Park, Ryan Ranch, Skyline Estates, Spring Mesa, Sunrise Ridge, Table Rock, Trail Village, Village of Five Parks, and West Woods.