Denver Foothills (Colorado) Market Update

The Denver Foothills has been a hot market for years. When the rest of the country’s real estate market is hot Denver Foothills is on fire! This has always been the case. Even in 2008 the Denver Foothills didn’t see the crash like most areas did. Even other parts of Denver and Colorado.

What Towns Are In The Denver Foothills?

The Denver Foothills (some people’s geographical definition may vary slightly) consist of Evergreen, Conifer, Morrison, Bailey, Pine, and Golden, Colorado. All these areas are desirable for a multitude of reasons. Just a few reasons the Foothills market is always in demand is the close proximity to everything fun in Colorado. Just a few minutes (about 25) to Denver and just over an hour to most of the best ski resorts in the world. This is why everyone wants a home in the Denver Foothills but it has been hard to find any homes for sale. It seems like everyone wants to live in beautiful, peaceful and low population density areas like the Denver Foothills.

Denver Foothills Wildlife
Denver Foothills Wildlife

What’s So Appealing Over There in the Denver Foothills?

Other than being close to the big city of Denver (but still far enough away) and being able to take a day trip to world class skiing the Denver Foothills also have an amazing amount of wildlife. Some towns, like Evergreen, Colorado, even use it in their tourist marketing. The big campaign a few years ago in Evergreen was “got elk?” You can see everything from elk, moose, mountain lions, bears and bald eagles on any given day. Many local social media pages have posts every day saying “We have guests visiting where are the elk today?”

See also  Buying New Construction

Are there any homes for sale in the Denver Foothills?

The Denver Foothills are starting to see more real estate listings pop up. Our inventory is still way too low but it is improving going into the fourth of July weekend. The foothills are still seeing about half the inventory we had last year (and inventory was low last year too). Buyers are beginning to use a little more common sense and not emotions to buy their home. We saw a lot of bidding wars and emotional decisions being made over the last few months. Buyers I represented were no different. It was not uncommon to be competing with 15 other offers on a property that was listed at $1.5 Mil. Thankfully those days are letting up a bit. We are not seeing as many competing offers and not as many crazy and dangerous contingencies (or contingency removals). Some real estate agents were really putting their buyers in a dangerous spot.

What is the Average Home Price in the Denver Foothills?

Just like any region the Denver Foothills have pockets and areas where homes are more expensive and less expensive than others.

Denver Foothills Home Value
Denver Foothills Home Value

Last year about this time the average home sale was about $600,000 and now they are over $900,000. This has been one of the biggest appreciations in home values in decades. There is no sign of it slowing or “crashing” as many have begun to fear. There is no similarities to 2008 except the fact values have climbed at a huge percentage.

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2021-07-03

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