Last Updated on January 20, 2024 by Ali Hamza
The Denver Foothills real estate market might be the hottest market in the state. Our home values have appreciated huge in 2021. With the low inventory and high demand in places like Evergreen, Conifer, Morrison, and Golden CO we are seeing values go up as we have never seen. It is definitely a seller’s market in 2021.
Table of Contents
Denver Foothills Market Update
By: Jessica Smith, Broker Associate of The Stirling Properties Team in Evergreen, Conifer, Morrison, and Golden Colorado The Denver Foothills real estate market might be the hottest market in the state. Our home values have appreciated huge in 2021. With the low inventory and high demand in places like Evergreen, Conifer, Morrison, and Golden CO we are seeing values go up as we have never seen. It is definitely a seller’s market in 2021. Conifer – Well as you can imagine it’s a hot market in the Denver Foothills, we are seeing these values go up 15%+ within the last year alone, however it is not the norm for Evergreen.
What is driving this market?
Mainly from all the development, we have had in the last 4-5 years. I think you can see this around the Foothills. There is almost no development going on right now. As they are releasing the land there is just a flood of people out there looking to buy homes. Right now in the Foothills, there are a few ways to be able to buy a home. If you want to buy a home in the Foothills you can try and find a long-term lease or rent in the Foothills. Also, a good place to look to buy is online. Homes.com has a real estate page for the Foothills and you can also look at homes in the Foothills. Homes.com is the best place to buy or sell your home. If you want to rent in the Foothills now there are a lot of vacation rentals on the market. These rental homes can be in your favorite place or just halfway.
How has the low inventory impacted the market?
The low inventory has definitely helped the Denver Foothills market in 2019. The supply and demand are what are keeping the prices high. Lately, the home sales market has been very good. People looking to sell their homes can have the chance to get much more than what they were looking for. With the demand for homes at the current time, there is just a small amount of homes on the market. We are seeing prices going up quickly at the current time, however. The average selling price right now is about $420,000, which is a 7.5% increase from January 2019. If the housing market is what you want then you will definitely see prices going up in places like Evergreen, Conifer, Morrison, and Golden CO. The pace of price increases in 2019 is the highest it has been in 4 years.
Why are Denver Foothills home values so high in 2021?
Drier weather + High demand + limited homes for sale Denver Foothills is a small area that’s all surrounded by a small Denver metro area so there is a little area known as East High Park. Most of our home buyers are first-time home buyers or older homeowners looking for a large home with lots of land to keep chickens or horses on. Because of our small area, we have to drive a long way to get to big neighborhoods, but our homes are on big lots so you can get more land for less money. The other reason our home values are so high is that our home builders have kept their prices down. Not because there’s not plenty of money to build homes, but because our home buyers so price sensitive.
History and Future of Denver Foothills Real Estate
The Denver Foothills real estate market has been in a major growth mode for over 20 years. There have been huge amounts of development, the population has grown and demand for homes has been on the rise. As a result, home prices have climbed quickly and to this day some of our homes cost more than they should. As a result, there is a large amount of homes for sale and a lot of people looking to buy. Since home values have gone up so quickly there has been little in the way of home appreciation. Home for sale today may sell in two months. This means that as a buyer you really only get your money’s worth if you buy something quickly. How is this changing in 2021? In 2021, home prices are likely to continue to rise.
The hottest neighborhoods in Denver Foothills
The Forbes 477 is a modestly priced family home located in Evergreen. Here is an example of the homes. The listing price for this home is $240,000. The median price for all homes in the Denver Foothills is $438,500. Do the math and you will see that this home is selling above list price, no problem for the seller. So why is this home on top? The biggest selling points are the size, location, school district, home value, and price. It’s quite a steal. Read more on Denver Foothills Real Estate News: http://denverfoothillsnews.com/all-homes/category/denver-foothills-real-estate-news The Home of the Week The Colorado Rocky Mountains is known for their beautiful landscape. Here is a great Colorado Rockies, southwest Colorado, home for your Colorado home, or for your vacation home in Colorado.
From William Hurtak’s real estate report we know that single-family homes and townhomes are on the rise. We also know that prices in Evergreen are on the rise. In 2021 they are forecast to increase 12.2% to a median home price of $319,000. The year before it increased only 10%. So in 2021, there is no doubt there will be some fantastic housing. Conifer CO From William Hurtak’s real estate report we know that there is a high demand for real estate in Conifer CO. We also know that homes are changing hands fast. In the last year sales increased 81.9% from 113 homes in 2016 to 258 homes in 2017. In the past year sales increased 27% from 152 in 2016 to 200 in 2017. In the years 2013-2016 Conifer had a median home price of $315,000. In the year 2021, it is forecasted to increase to $378,000.
Buyers are using the snow as an excuse for not buying now and sellers are not accepting offers anymore. Our real estate market isn’t as hot as it was in 2021 and it’s easy to understand why. There is no snow anymore. That said, home values in Conifer Co. are up over 32% and home sales in Conifer Co. have increased by over 100% in 2021. Conifer Co. Evergreen CO We saw continued growth in real estate in Evergreen CO in 2021 with sales values going up nearly 50% in 2021. Sellers are asking for $20,000 to $25,000 more than last year. To get a good house in Evergreen CO, you should start at least $200,000 under what you could afford and not expect to buy a house right now.
June 2018 Estimate Estimate of Median Sales Price – Median Days on Market $364,000 $200,000 $157,000 (Photo: This file photo from 2017 shows homes for sale in Morrison. Coloradobucs.com file photo) Conifer CO June 2018 Estimate Estimate of Median Sales Price – Median Days on Market $207,000 $155,000 $94,000 (Photo: This file photo from 2017 shows homes for sale in Conifer. Coloradobucs.com file photo) Evergreen CO June 2018 Estimate Estimate of Median Sales Price – Median Days on Market $409,500 $218,000 $201,500 (Photo: This file photo from 2017 shows homes for sale in Evergreen. ColoradoCougars.
Evergreen CO Conifer CO Morrison CO Morrison is the best place in CO for home values in 2021 and has the largest appreciation of all the cities we are looking at. Denver Foothills doesn’t like the homeowner’s taxes in Denver CO. Land costs are the highest in Morrison CO, Conifer CO, and Evergreen CO. After having over 40K added to home values across Colorado in 2015 and 2016, in 2021 they expect to have the highest increase in the entire state.