West Metro | Mid-Year 2020
The 23 neighborhoods that make up Denver’s West Metro community enjoy the unique pairing of proximity to the city and plenty of local shopping and dining as well as access to natural, open spaces, miles of biking and walking trails, and a closeness to nature that you don’t get in other urban settings. Especially given the circumstances of 2020, this area is immensely popular for consumers looking for serenity and convenience.
In the spring, when real estate activity was halted due to health and safety precautions, homebuyers were forced to put their buying journeys on hold. Now that the delayed spring market is in full swing, the demand for West Metro homes has intensified, creating more competition in the marketplace and strengthening the value of homes.
The West Metro Micro Market Report produced by LIV Sotheby’s International Realty analyzes the real estate market comparing January through June of 2020 to the same time frame of 2019. Due to the increased demand, the average price for homes in Jefferson County has grown by 4.0%, bringing the current average price to $496,161.
In total, 18 neighborhoods within West Metro have seen average home prices increase. The largest increase in price was observed in Mesa Meadows. Here, the average price grew from $774,625 through June of 2019, to $1,008,699 through June of 2020, a 30.2% difference. Other notable increases include the 22.2% rise in average price in Eagle Ridge and the 11.3% rise in the City of Golden.
Out of all 23 neighborhoods within the West Metro community, North Table Mountain Village experienced the largest increase in the number of properties sold through June of this year. There were seven home sales in this neighborhood so far this year compared to the two homes that were sold through Q2 of last year, resulting in a 250% increase.
As demand for homes within the West Metro continues to rise, the real estate market in this area will become even more favorable for those who wish to buy and sell homes in this one-of-a-kind community.
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.