West Metro | Quarter 2 2021
For those looking for open space, trails, and plenty of parks while still being just a short drive from the heart of Denver, West Metro is a wonderful place to plant roots. Situated along the Foothills, West Metro features up-and-coming shopping centers, a mix of beloved restaurants and newly opened nightlife options, as well as suburban neighborhoods with plenty of peace and privacy. Here, there is something for everyone.
Since the start of the year, real estate activity in this community has spiked, illustrating the demand for homes in West Metro. But with the start of the summer season inspiring more consumers to finally take a vacation, showing activity has dipped slightly. This subtle shift may be the change of pace buyers need to find success in the real estate market. While sellers still have the advantage of appreciating home prices, having fewer people in town touring homes and making offers may be the competitive edge buyers need to secure their West Metro dream home.
Based on LIV Sotheby’s International Realty’s Mid-Year Micro Market Report, which examines real estate data from January through June of 2021 compared to the same time frame in 2020, Jefferson County, which encompasses much of the West Metro community, has seen a 34.3% increase in total sales volume, reaching a grand total of $3,188,446,858. An 10.4% uptick in the number of homes sold contributed to that impressive rise in sales volume. Additionally, home prices for all property types in West Metro have shown a 21.6% appreciation in the first half of the year, bringing the average price for homes here to $606,976.
Many individual neighborhoods within West Metro saw encouraging increases in the number of properties sold through the first half of the year. Although Arvada had the most home sales through June, totaling 1,288 homes sold, Eagle Ridge had the most significant increase in the number of sales compared to the same period of time in 2020. In Eagle Ridge, there were seven homes sold as of June, a 250% improvement from last year when just three homes sold during that same time frame.
Homes in the City of Golden Proper experienced an upward trend in property prices this year. Through the first half of the year, the average price for a home in this community was $768,306 – a 11.4% increase since 2020. In Alkire Estates, one of the newer neighborhoods within West Metro, average home prices rose by 9.8% to reach $1,304,333 so far this year.
Increases in average price were also met with considerable decreases in the average days on market for most areas. Most notably, Sunrise Ridge dropped a substantial 94.6% to an average of just three average days on market. Another fast-paced market within West Metro is Green Mountain Village, where average days on market decreased by 82.4%. According to the report, only two neighborhoods did not see an acceleration in market pace this year. Both Spring Mesa and Eagle Ridge have maintained their average days on market since 2020, with homes in these areas remaining on the market for 13 days and four days respectively.
Thanks to intensifying demand for West Metro homes and a marginal decrease in showing activity, both buyers and sellers can feel comfortable making the decision to buy and sell homes in this Colorado 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.