Foothills | Quarter 2, 2021
Located between the bustling city of Denver and the world-class ski resorts within the Rocky Mountains, the Foothills communities create an unparalleled Colorado living experience. Here the best of both worlds is at your fingertips: nature, a close-knit community, adventure, and a lifestyle that can only be found amidst this one-of-a-kind haven in the hills. Positioned along the west corridor within Jefferson County, this collection of neighborhoods includes beloved areas such as Genesee, Hiwan Hills, and Lookout Mountain.
Over the course of the last year, homebuyers looking for more space and privacy in a serene setting have flocked to the Foothills to find their dream homes. While much of that momentum in the marketplace continues to push home values upward, a slight decrease in showing activity observed through the start of the summer may give buyers the opportunity they’ve been waiting for to purchase their next home. This seasonal slowdown in showing activity is expected now that consumers are finally able to travel, take a vacation, and visit loved ones, may create a more level playing field for buyers and sellers.
LIV Sotheby’s International Realty produced a Mid-Year Micro Market Report comparing real estate data from the Foothills during January through June of 2021 compared to the same time frame in 2020. Jefferson County showed positive increases in several metrics, including a notable 34.3% boost in the total dollar volume sold, which reached $3,188,446,858. Although the number of new listings coming onto the market decreased slightly by 0.6%, the number of sold listings grew by 10.4%. During the first half of the year, there were 5,253 homes sold within the Foothills communities. The average price of those homes sold showed a 21.6% appreciation compared to the same period in 2020. Through June of this year, the average price for a home in this area was $606,976.
The area’s popularity resulted in an increasing number of listings sold within the majority of the Foothills’ neighborhoods. Most notably, Lookout Mountain saw an impressive 300% increase in the number of properties sold, from one property sold through Q2 of 2020 to four properties sold through Q2 of this year. The Evergreen Meadows neighborhood also experienced a significant rise in home sales during the first half of the year. Here, there were 17 properties sold through June of 2021 – a 183.3% increase from the same time frame last year.
Looking at average home prices, Upper Bear Creek reported one of the highest increases in average price, which rose by 66.9% to bring the average price for a home in this community to $1,232,000. In Genesee, home prices climbed 10.6%, making the average property price $1,164,568 through June of 2021.
Homes within the Ridge at Hiwan neighborhood have sold much more quickly so far this year than they did through the halfway mark of last year. The average days listings spent on the market in this neighborhood decreased from 57 days through June of 2020 to just eight days so far this year – a 86% decrease. The Bear Mountain community saw an even more drastic decrease in average days on market, falling by 91.7% which left homes in this area on the market for an average of just 11 days.
With real estate market conditions that benefit both buyers and sellers, incredible views, and endless opportunities for adventure every day, the Foothills are one of Colorado’s most amazing communities to call home.
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.