West Metro | Q3 2020
Denver’s West Metro community is made up of 24 neighborhoods within Jefferson County that enjoy a relaxed suburban lifestyle with the advantage of being close to the mountains. Here you’ll find miles of biking and walking trails, local craft and big-name breweries, open spaces, and the kind of charm you can only find in close-knit communities. The far-reaching views of the Front Range and master-planned neighborhoods, many of which have resort-like amenities, make this a desirable area to buy and sell homes.
The West Metro Micro Market Report produced by LIV Sotheby’s International Realty analyzes the real estate market comparing January through September of 2020 to the same time frame of 2019. Increased demand for homes in the West Metro community led to a 10.7% increase in total dollar volume sold through Q3. Throughout this year, many buyers have found their dream homes in this collection of neighborhoods, increasing the number of sold properties by 3.5%, from 7,860 homes sold in 2019 to 8,136 homes sold so far in 2020. Average home prices in West Metro have also climbed since January through September of 2019, rising by 7% which brings the average price of homes in this community to $511,671.
Several neighborhoods within West Metro have seen significant increases in the number of properties sold so far this year. One of the most drastic increases was observed in North Table Mountain Village where there were 11 homes sold through September, a 266.7% rise compared to the same time frame last year. Mesa Meadows and Fieldstone also saw an uptick in home sales, growing by 28.6% and 150% respectively.
Due to the increased buying activity and relatively low inventory of available homes in West Metro, home prices in many neighborhoods have risen. In Eagle Ridge, the average price of a home grew from $715,543 through Q3 in 2019 to $964,667 during the same time frame this year, a 34.8% increase. Properties in the City of Golden also saw a 7.4% increase in average price, which brought the average home price to $668,490.
Eager consumers have purchased homes quickly this year, causing a decrease in the average days on market for homes in select neighborhoods. Homes in the Leyden Rock neighborhood remained on the market for 56.3% less time than last year, dropping from an average of 80 days on market to an average of 35 days on market. Westwoods, an area popular for its country club lifestyle, saw a 44% decrease in days on market. Homes in this neighborhood were on the market for an average of 14 days through September of this year.
The alure of space and scenic views is enough to make any buyer want to purchase a home in West Metro. As more people make the decision to move into the West Metro neighborhoods, the area’s real estate market will continue to produce positive results.
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.