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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

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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%

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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.

South Metro Q1, 2018 Micro Market Report  
South Metro Q1, 2018 Micro Market Report