MICROMARKET REPORT |
South Metro • 2019
SOUTH METRO NEIGHBORHOODS 1. Inverness 2.
3. Backcountry
1 2
5
3
Highlands Ranch
6
4
4.
Firelight/Highlands Ranch
5.
Lone Tree
6. Parker 7
8 9
7.
Castle Pines
8.
Castle Pines Village
9.
Pradera & Timbers
10. Sedalia
10
11 12
13
11.
The Meadows
12.
Diamond Ridge
13.
Castle Rock
14.
Keene Ranch
15. Bell Mountain Ranch 14 15
16. Larkspur 17. Broadmoor
17
16
18
18.
Colorado Springs
Pictured on cover: 10385 Grande Vista Court, Lone Tree
Based on Information from REColorado. This representation is based in whole or in part on data supplied by REColorado. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.
coloradomicroreports.com
SOUTH METRO market update Denver’s South Metro is home to many influential neighborhoods including The Village Castle Pines, Castle Rock, Highlands Ranch, Broadmoor, and more. Covering the southern I-25 corridor, South Metro also features the prominent Denver Tech Center with numerous Fortune 500 companies, Centennial Airport, plentiful shopping destinations, renowned golf courses, recreational activities, and an abundance of restaurants. Living in South Metro provides residents easy access to parks, scenery, national forests, and the open space that Colorado is known for. Homes within these neighborhoods often feature large lots with expansive views or condominiums with added amenities. LIV Sotheby’s International Realty’s South Metro report includes many notable highlights for the area, comparing 2018 to 2017 metrics. Impressively, Diamond Ridge Estates increased an outstanding 91.6% in average price from $550,342 in 2017 to $1,054,313 in 2018. Many other neighborhoods also saw exciting increases in average price including: Backcountry with a 13.9% increase, Bell Mountain Ranch with a 13.2% increase, Castle Pines with a 14.6% increase, Keene Ranch with a 19.6% increase, and Larkspur with a 14.9% increase. An increase in demand and draw to the South Metro area also increases competition, which decreases the average days on market. Six neighborhoods saw a decrease of at least 20% in average days on market compared to 2017. Pradera & Timbers saw the largest decrease of 52.2% in average days on market, landing at 44 days in 2018. Lone Tree reported a decrease of 29.5% average days on market, with a noteworthy just 31 days in 2018.
January-December 2018 Highlights: • Backcountry’s average price is $1,160,559
13.9%
• Castle Pines’ average price is $689,753
14.6%
• Keene Ranch’s average price is $1,181,365
19.6%
• Parker’s average price is $511,835
5.9%
The South Metro neighborhoods offer a unique and desirable Colorado lifestyle with many surrounding attractions. Overall, many South Metro neighborhoods saw increases in average price and decreases in average days on market, indicating a very healthy and active real estate market for the area.
livsothebysrealty.com
Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2018 through December 31, 2018. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.
MICROMARKET REPORT | South Metro 2019 • COLORADOMICROREPORTS.COM
BACKCOUNTRY January through December
2017
2018
Average Price
$1,018,728
$1,160,559
13.9%
$294
$329
11.9%
76
58
-23.7%
$2,200,000
$3,250,000
47.7%
55
68
23.6%
94.0%
98.5%
4.8%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
1475 Pine Chase Place, Backcountry
BELL MOUNTAIN RANCH January through December Average Price
2017
$901,558
13.2%
$294
$313
6.3%
138
158
14.5%
$967,500
$1,400,000
44.7%
16
24
50.0%
94.6%
95.0%
0.4%
Average Days on Market
Properties Sold % Sold Price to List Price
50%
% Change
$796,325
Average Price per Square Foot
Highest Price
2018
January through December, 2018, the number of properties sold in the neighborhood of Bell Mountain Ranch increased by 50% compared to that of 2017.
BROADMOOR/CO SPRINGS January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$962,225
$989,836
2.9%
$187
$192
3.0%
154
126
-18.2%
$2,400,000
$1,720,000
-28.3%
25
24
-4.0%
94.5%
95.9%
1.5% 22 Crossland Road, Broadmoor
coloradomicroreports.com
CASTLE PINES January through December Average Price
Castle Pines, located just 20 miles south of Denver, offers its residents the perfect balance of open space and urban living.
2017
$689,753
14.6%
$221
$252
13.9%
50
55
10.0%
$1,400,000
$2,700,000
92.9%
125
98
-21.6%
96.5%
97.21%
0.7%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$601,828
Average Price per Square Foot
Highest Price
2018
THE VILLAGE CASTLE PINES January through December
2017
2018
Average Price
$1,201,645
$1,174,364
-2.3%
$332
$347.50
4.6%
159
141
-11.3%
$4,800,000
$4,300,000
-10.4%
122
142
16.4%
92.3%
92.0%
-0.3%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
616 Cliffgate Lane, The Village Castle Pines
10%
January through December, 2018, the average price in Castle Rock increased by 10% compared to that of 2017.
CASTLE ROCK January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$412,591
$453,679
10.0%
$217
$233
7.2%
34
44
29.4%
$1,435,000
$2,300,000
60.3%
429
393
-8.4%
98.7%
98.0%
-0.7%
MICROMARKET REPORT | South Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
COLORADO SPRINGS January through December Average Price
2017
2018
% Change
$314,589
$347,289
10.4%
30
28
-6.7%
$4,800,000
$4,376,250
-8.8%
Properties Sold
16,330
15,576
-4.6%
% Sold Price to List Price
99.8%
99.8%
0.0%
Average Days on Market Highest Price
10.4%
The average price in Colorado Springs increased by 10.4% January through December 2018, compared to that of 2017.
DIAMOND RIDGE ESTATES January through December Average Price
2017
$1,054,313
91.6%
$213
$250
17.4%
45
126
180.0%
$1,720,000
$1,275,000
-25.9%
113
90
-20.4%
97.80%
91.0%
-7.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$550,342
Average Price per Square Foot
Highest Price
2018
3724 Camelrock View, Colorado Springs
FIRELIGHT/HIGHLANDS RANCH January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$529,585
$570,595
7.7%
$214
$231
7.7%
25
30
20.0%
$925,000
$920,000
-0.5%
55
44
-20.0%
98.4%
98.0%
-0.4%
7.7%
The average price per square foot in Firelight increased by 7.7% January through December, 2018 compared to that of 2017.
coloradomicroreports.com
HIGHLANDS RANCH January through December Average Price
2017
$510,703
5.7%
$238
$250
5.1%
19
15
-21.1%
$3,210,647
$2,930,758
-8.7%
625
594
-5.0%
99.2%
99.31%
0.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$483,362
Average Price per Square Foot
Highest Price
2018
4811 Greenwich Drive, Highlands Ranch
5.5%
The highest price in Inverness increased by 5.5% January through December, 2018 compared to that of 2017.
INVERNESS January through December Average Price
2017
$479,602
-0.9%
$311
$296
-4.8%
50
40
-20.0%
$965,000
$1,018,000
5.5%
41
43
4.9%
96.50%
97.60%
1.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$483,753
Average Price per Square Foot
Highest Price
2018
KEENE RANCH January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$987,454
$1,181,365
19.6%
$324
$376
16.1%
69
129
87.0%
$1,247,400
$2,650,000
112.4%
10
13
30.0%
95.5%
90%
-5.8%
MICROMARKET REPORT | South Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
LARKSPUR January through December
2017
Average Price
$626,306
$719,718
14.9%
$254
$280
10.2%
82
75
-8.5%
$2,719,200
$6,750,000
148.2%
120
119
-0.8%
97.4%
96.0%
-1.4%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
14.9%
The average price in Larkspur increased by 14.9% January through December, 2018 compared to that of 2017.
LONE TREE January through December
2017
Average Price
% Change
$742,908
$681,251
-8.3%
$240
$243
1.7%
44
31
-29.5%
$2,600,000
$1,615,000
-37.9%
47
50
6.4%
95.7%
97.45%
1.8%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
1536 Elk View Road, Larkspur
THE MEADOWS January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$447,515
$477,098
6.6%
$202
$215
6.8%
26
29
11.5%
$895,300
$824,900
-7.9%
431
430
-0.2%
98.5%
98.57%
0.1%
6.8%
The average price per square foot in The Meadows increased by 6.8% January through December, 2018 compared to that of 2017.
coloradomicroreports.com
PARKER January through December Average Price
2017
$511,835
5.9%
$222
$238
6.6%
31
34
3.0%
$3,500,000
$3,799,000
8.5%
1,939
2,407
-2.4%
98.8%
98.65%
-1.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$482,446
Average Price per Square Foot
Highest Price
2018
9415 Wild Gulch Court, Parker
PRADERA & TIMBERS January through December Average Price
Pradera, situated beautifully in the rolling countryside between Parker and Castle Rock, offers residences sweeping views and year-round recreational activities.
2017
$821,479
-0.2%
$250
$245
-2.1%
92
44
-52.2%
$2,093,000
$1,725,000
-17.6%
121
104
-14.0%
95.1%
98%
3.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$823,512
Average Price per Square Foot
Highest Price
2018
SEDALIA January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$709,791
$691,201
-2.6%
$274
$331
20.9%
88
61
-30.7%
$2,800,000
$3,026,700
8.1%
32
58
81.3%
93.0%
95.0%
2.1%
5155 Bears Den Trail, Sedalia
MICROMARKET REPORT | South Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
The life you love.
coloradomicroreports.com | livsothebysrealty.com
Based on Information from REColorado. This representation is based in whole or in part on data supplied by REColorado. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market. Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2018 through December 31, 2018. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.