Foothills | Quarter 2, 2022
Bridging the Denver Metro and the mountain communities, the Foothills benefit from s unique combination of natural beauty, convenience to both urban and outdoor recreation, and some of the most amazing neighborhoods to call ‘home.’ Situated within the west corridor of Jefferson County, this collection of neighborhoods including beloved areas such as Genesee, Hiwan Hills, and Lookout Mountain, provides more privacy and space than other areas of Denver Metro and gives its residents a taste of mountain living.
LIV Sotheby’s International Realty produced a Q2 Micro Market Report comparing real estate data from the Foothills from January through June of 2022 compared to the same time frame in 2021. Homes in this area appreciated by 18.2%, increasing the average price for all property types from $606,976 through Q2 of 2021 to $717,146 through Q2 of this year. This increase in average sale price boosted the total dollar volume sold in Jefferson County by 0.5%, bringing the total to $3,623,020,133.
As the real estate market continues its return to more typical buying and selling patterns, the number of homes sold in the Foothills decreased slightly. In January through June of this year, compared to the same period last year, there were 3.8% fewer homes sold. With 1.4% more new inventory entering the market, homebuyers had more opportunities to purchase their dream home than in previous years which resulted in buying and selling increases in several individual neighborhoods within this community.
Hiwan Country Club proved to be one of the most popular neighborhoods to buy homes in this year with 19 homes sold through June. Genesee and Conifer Mountain also yielded some of the highest number of homes sold, with 17 and 12 properties sold respectively.
Looking at average home prices, many neighborhoods experienced positive appreciation through June of this year compared to the same period in 2021. In the Ridge at Hiwan neighborhood, home prices rose by 19% to reach an average sale price of $1,684,589. Shadow Mountain offered the most affordability to homebuyers through Q2 with an average sale price of $703,200. The Soda Creek neighborhood saw the most expensive sale so far this year for the Foothills community. Here, a home sold for an impressive price of $4,598,500 which demonstrates that luxury homes in the area are still in high demand.
While the average time spent on the market for all of Jefferson County was just 10 days through June of this year, several Foothills neighborhoods experienced much quicker market speeds through the first half of the year. In Brook Forest, homes spent an average of eight days on the market. Genesee also saw home spending slightly more time on the market through Q2 – averaging 20 days on the market through June. The sustained momentum in the housing market illustrates that the demand for Foothills homes is still strong.
With bountiful natural beauty, captivating vistas, and communities that cater to those looking for a mix of mountain living, luxury lifestyles, and everything in between, the Foothills are a wonderful place to call home.