MICROMARKET REPORT |
South Metro • Quarter 1 2018
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: 1895 Via Los Pinon, Castle Rock
coloradomicroreports.com
SOUTH METRO market update The South Denver metro region is comprised of influential areas, including; Highlands Ranch, Parker, Lone Tree, Castle Rock, and Colorado Springs, covering major parts of the southern I-25 corridor. Denver South houses the country’s second busiest general aviation airport and seven of Colorado’s ten Fortune 500 Companies. South Metro Denver draws residents and families to the area that seek proximity to amenities and employment opportunities, without sacrificing access to the outdoor recreation. The South metro corridor is home to the spectacular scenery, parks, national forests, and open space Colorado is known for, and despite the suburban areas’ fast growth over the last 15 years, the region has permanently preserved over 50,000 acres of natural open space, guaranteeing future generations the same beautiful views and abundance of wildlife only Colorado can offer. Residential offerings within South Denver metro include expansive condominium complexes featuring mountain vistas, and beautiful, single family homes overlooking vast open spaces. Home to many fine golf courses, residences within the South Denver metro region see consistent price appreciation, due to residents’ continued desire for golf lifestyle-inspired home purchases. From January through March 2018, the average price in Highland’s Ranch increased by 12.4%, yearover-year. In Castle Rock, home to premium, outdoor outlet shopping, the average price in the neighborhood of The Meadows increased 6.1% January through March 2018, compared to that of 2017. Colorado Springs has seen signficant growth, with average price up 11.3%, yearover-year.
Quarter 1 2018 Highlights: • Highland Ranch’s average price is $519,666
12.4%
• Larkspur’s average price is $629,920
8.8%
• Lone Tree’s average price is $825,028
16.0%
• The Meadow’s average price is $466,800
6.1%
With the variety of quality living options the South Denver metro area affords, residents will continue to be drawn to the region, and real estate values will likely continue to rise.
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.
MICROMARKET REPORT | South Metro QUARTER 1 2018 • COLORADOMICROREPORTS.COM
BACKCOUNTRY January through March
2017
2018
Average Price
$1,042,391
$1,335,727
28.1%
$280
$333
19.2%
126
89
-29.4%
$1,993,000
$2,550,000
27.9%
17
15
-11.8%
95.4%
99.0%
3.8%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
BELL MOUNTAIN RANCH January through March Average Price
2017
$767,000
-2.0%
$295
$302
2.3%
202
208
3.0%
$876,400
$879,000
0.3%
5
2
-60.0%
95.1%
97.4%
2.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$782,280
Average Price per Square Foot
Highest Price
2018
2.3%
January through March 2018, the average price per square foot in the neighborhood of Bell Mountain Ranch increased by 2.3% compared to that of 2017.
BROADMOOR/CO SPRINGS January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$539,421
$549,612
1.9%
$146
$154
5.8%
133
96
-27.8%
$1,925,000
$1,377,500
-28.4%
25
34
36.0%
95.9%
96.3%
0.4%
coloradomicroreports.com
CASTLE PINES January through March Average Price
Castle Pines, located just 20 miles south of Denver, offers its residents the perfect balance of open space and urban living.
2017
$601,423
-12.4%
$221
$245
11.0%
101
95
-5.9%
$1,400,000
$899,000
-35.8%
17
13
-23.5%
93.5%
97.5%
4.2%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$686,818
Average Price per Square Foot
Highest Price
2018
CASTLE PINES VILLAGE January through March
2017
2018
Average Price
$1,010,789
$1,209,452
19.7%
$290
$334
15.1%
156
246
57.7%
$3,000,000
$2,600,000
-13.3%
25
21
-16.0%
91.8%
92.9%
1.1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
8.4%
January through March 2018, the average price per square foot in Castle Rock increased by 8.4% compared to that of 2017.
% Change
CASTLE ROCK January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$407,856
$417,730
2.4%
$214
$232
8.4%
42
44
4.8%
$1,091,000
$930,000
-14.8%
73
85
16.4%
98.6%
98.8%
0.2%
MICROMARKET REPORT | South Metro livsothebysrealty.com
QUARTER 1 2018 • COLORADOMICROREPORTS.COM
COLORADO SPRINGS January through March Average Price
2017
% Change
$285,427
$317,794
11.3%
$128
$140
9.5%
109
90
-17.4%
$2,500,000
$2,950,000
18.0%
3,523
3,541
0.5%
99.6%
99.8%
0.2%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
11.3%
The average price in Colorado Springs increased by 11.3% January through March 2018 compared to that of 2017.
DIAMOND RIDGE January through March Average Price
2017
$725,000
-31.0%
$241
$215
-10.7%
303
111
-63.4%
$1,050,000
$725,000
-31.0%
1
1
0.0%
91.4%
96.7%
5.8%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$1,050,000
Average Price per Square Foot
Highest Price
2018
FIRELIGHT/HIGHLANDS RANCH January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$507,864
$572,860
12.8%
$197
$233
18.5%
54
15
-72.2%
$741,500
$801,000
8.0%
11
10
-9.1%
97.0%
99.6%
2.7%
18.5%
The average price per square foot in Firelight increased by 18.5% January through March 2018 compared to that of 2017.
coloradomicroreports.com
HIGHLANDS RANCH January through March Average Price
2017
$519,666
12.4%
$234
$248
6.2%
30
17
-43.3%
$1,993,000
$2,405,000
20.7%
123
103
-16.3%
98.9%
100.3%
1.4%
Average Days on Market
Properties Sold % Sold Price to List Price
8.9%
The average price per square foot in Inverness increased by 8.9% January through March 2018 compared to that of 2017.
% Change
$462,435
Average Price per Square Foot
Highest Price
2018
INVERNESS January through March Average Price
2017
$411,636
-8.7%
$284
$310
8.9%
63
24
-61.9%
$950,000
$525,000
-44.7%
9
11
22.2%
96.9%
98.7%
1.9%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$450,851
Average Price per Square Foot
Highest Price
2018
KEENE RANCH January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$669,441
$951,250
42.1%
$290
$320
10.6%
183
133
-27.3%
$669,441
$1,200,000
79.3%
1
4
300.0%
86.4%
85.0%
-1.6%
MICROMARKET REPORT | South Metro livsothebysrealty.com
QUARTER 1 2018 • COLORADOMICROREPORTS.COM
LARKSPUR January through March
2017
Average Price
$629,920
8.8%
$257
$282
9.8%
89
104
16.9%
$925,000
$880,000
-4.9%
24
21
-12.5%
96.6%
97.3%
0.8%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$578,990
Average Price per Square Foot
Highest Price
2018
8.8%
The average price in Larkspur increased by 8.8% January through March 2018 compared to that of 2017.
LONE TREE January through March
2017
Average Price
% Change
$711,300
$825,028
16.0%
$267
$280
5.1%
53
68
28.3%
$2,344,218
$1,500,000
-36.0%
37
54
45.9%
96.0%
97.1%
1.2%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
THE MEADOWS January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$439,787
$466,800
6.1%
$199
$214
7.2%
33
27
-18.2%
$677,000
$750,000
10.8%
71
83
16.9%
98.6%
99.2%
0.6%
7.2%
The average price per square foot in The Meadows increased by 7.2% January through March 2018 compared to that of 2017.
coloradomicroreports.com
PARKER January through March
2017
Average Price
$497,062
5.2%
$218
$235
7.5%
41
37
-9.8%
$2,207,500
$1,950,000
-11.7%
522
432
-17.2%
98.3%
99.0%
0.8%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$472,529
Average Price per Square Foot
Highest Price
2018
PRADERA & TIMBERS January through March Average Price
Pradera, situated beautifully in the rolling countryside between Parker and Castle Rock, offers residences sweeping views and year-round recreational activities.
2017
$688,245
-13.7%
$245
$241
-1.6%
122
41
-66.4%
$1,100,000
$1,065,000
-3.2%
25
21
-16.0%
93.4%
97.9%
4.8%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$797,718
Average Price per Square Foot
Highest Price
2018
SEDALIA January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$575,706
$462,640
-19.6%
$229
$239
4.1%
145
57
-60.7%
$1,495,000
$757,500
-49.3%
16
10
-37.5%
95.2%
96.0%
0.8%
MICROMARKET REPORT | South Metro livsothebysrealty.com
QUARTER 1 2018 • 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.