South Metro Q1 2019 Micro Market Report

MICROMARKET REPORT |

South Metro • Quarter 1 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.

The Village Castle Pines

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: 4 Elk Pointe Lane, Castle Rock

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 Micro Market Report includes many notable highlights for the area, comparing Q1 of 2019 to Q1 of 2018. The most impressive was displayed in Sedalia with a 131.3% increase in average price to $1,070,300 in 2019, from $462,640 in 2018. Another significant increase in average price was shown in Pradera & Timbers with a 50.7% increase in 2019 to $1,037,131, from $688,245 in 2018.

Proving to be an active and competitive area of the state, many areas also reported exciting increases in the number of properties sold for 2019. Highlands Ranch increased by 170.9% for properties sold to 279 in Q1 of 2019, from 103 in Q1 of 2018. Castle Pines also increased by an outstanding 76.9% to 23 properties sold in 2019, from 13 properties sold in 2018.

The South Metro neighborhoods offer a unique and desirable Colorado lifestyle with many surrounding attractions. Overall, many South Metro neighborhoods saw increases in both average price and number of properties sold, indicating a very healthy and active real estate market.

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.

January - March 2019 Highlights: • Sedalia’s average price is $1,070,300

131.3%

• Castle Rock’s average price is $488,270

16.9%

• Keene Ranch’s average price is $1,183,750

24.4%

• Pradera & Timbers average price is $1,037,131

50.7%

MICROMARKET REPORT | South Metro 2019 • COLORADOMICROREPORTS.COM

BACKCOUNTRY January through March

2018

2019

Average Price

$1,335,727

$1,073,121

-19.7%

$333

$319

-4.2%

89

55

-38.2%

$2,550,000

$2,601,833

2.0%

15

21

40.0%

99.0%

96.6%

-2.4%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

10845 Rainribbon Road, Backcountry

BELL MOUNTAIN RANCH January through March Average Price

2018

$909,583

18.6%

$302

$361

19.4%

208

89

-57.2%

$879,000

$1,640,000

86.6%

2

6

200.0%

97.4%

95.7%

-1.8%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$767,000

Average Price per Square Foot

Highest Price

2019

57.2%

January through March 2019, the average day on market for the neighborhood of Bell Mountain Ranch decreased by 57.2% compared to that of 2018.

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

2018

2019

% Change

$925,932

$801,911

-13.4%

$196

$199

1.5%

184

145

-21.2%

$1,377,500

$1,030,000

-25.2%

7

4

-42.9%

111.0%

95.6%

-13.9%

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.

2018

$668,768

11.2%

$245

$239

-2.6%

95

58

-38.9%

$899,000

$1,350,000

50.2%

13

23

76.9%

97.5%

98.0%

0.6%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$601,423

Average Price per Square Foot

Highest Price

2019

THE VILLAGE CASTLE PINES January through March

2018

2019

Average Price

$1,209,452

$1,326,313

9.7%

$334

$403

20.7%

246

119

-51.6%

$2,600,000

$2,540,000

-2.3%

21

25

19.0%

92.9%

97.1%

4.5%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

1160 Buffalo Ridge Road, The Village Castle Pines

16.9%

January through March 2019, the average price in Castle Rock increased by 16.9% compared to that of 2018.

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

2018

2019

% Change

$417,730

$488,270

16.9%

$232

$221

-4.9%

44

63

43.2%

$930,000

$1,785,000

91.9%

85

70

-17.6%

98.8%

98.7%

-0.1%

MICROMARKET REPORT | South Metro livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

COLORADO SPRINGS January through March Average Price

2018

$348,708

9.7%

$140

$153

9.0%

90

41

-54.4%

$2,950,000

$1,975,000

-33.1%

3,541

3,459

-2.3%

99.8%

99.4%

-0.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$317,794

Average Price per Square Foot

Highest Price

2019

4915 Canyon Meadows View, Colorado Springs

FIRELIGHT/HIGHLANDS January through March Average Price

2018

$564,400

-1.5%

$233

$239

2.6%

15

46

206.7%

$801,000

$715,000

-10.7%

10

6

-40.0%

99.6%

100.0%

0.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$572,860

Average Price per Square Foot

Highest Price

2019

2.6%

January through March 2019, the average price in the neighborhood of Firelight/Highlands increased by 2.6% compared to that of 2018.

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

2018

2019

% Change

$519,666

$570,940

9.9%

$248

$261

5.1%

17

32

88.2%

$2,405,000

$4,595,032

91.1%

103

279

170.9%

100.3%

98.0%

-2.3%

Highlands Ranch is located 12 miles south of Denver in Douglas County and offers a wonderful quality of life and opportunities for an active lifestyle.

coloradomicroreports.com

INVERNESS January through March Average Price

2018

$496,988

20.7%

$310

$313

1.0%

24

26

8.3%

$525,000

$675,000

28.6%

11

8

-27.3%

98.7%

97.8%

-0.9%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$411,636

Average Price per Square Foot

Highest Price

2019

KEENE RANCH January through March Average Price

Keene Ranch is nestled at the base of Dawson Butte with the vast Front Range of the Rocky Mountains in the background. Residents can easily commute to Denver or Colorado Springs.

2018

$1,183,750

24.4%

$320

$378

18.0%

133

97

-27.1%

$1,200,000

$1,500,000

25.0%

4

4

0.0%

85.0%

92.1%

8.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$951,250

Average Price per Square Foot

Highest Price

2019

LARKSPUR January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$629,920

$729,596

15.8%

$282

$269

-4.6%

104

89

-14.4%

$880,000

$1,675,000

90.3%

21

14

-33.3%

97.3%

97.0%

-0.3%

4409 Triple Eagle Trail, Larkspur

MICROMARKET REPORT | South Metro livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

LONE TREE January through March

2018

Average Price

$945,619

14.6%

$280

$319

13.9%

68

44

-35.3%

$1,500,000

$2,175,000

45.0%

54

33

-38.9%

97.10%

97.00%

-0.1%

Average Days on Market

Properties Sold % Sold Price to List Price

13.9%

% Change

$825,028

Average Price per Square Foot

Highest Price

2019

The average price per square foot in Lone Tree increased by 13.9% January through March 2019 compared to that of 2018.

THE MEADOWS January through March

2018

Average Price

$466,800

$456,299

-2.2%

$214

$223

4.4%

27

64

137.0%

$750,000

$681,655

-9.1%

83

100

20.5%

99.2%

98.0%

-1.2%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

20.5%

% Change

The properties sold in The Meadows increased by 20.5% January through March 2019 compared to that of 2018.

PARKER January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$498,354

$497,785

-0.1%

$235

$240

2.2%

38

58

52.6%

$1,950,000

$1,900,000

-2.6%

445

428

-3.8%

99.0%

97.8%

-1.3% 7221 Prairie Star Court, Parker

coloradomicroreports.com

PRADERA & TIMBERS January through March Average Price

Pradera & Timbers situated beautifully in the rolling countryside between Parker and Castle Rock, offers residences sweeping views and year-round recreational activities.

2018

$1,037,131

50.7%

$241

261

8.1%

41

210

412.2%

$1,065,000

$1,900,000

78.4%

21

14

-33.3%

97.9%

94.0%

-4.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$688,245

Average Price per Square Foot

Highest Price

2019

SEDALIA January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$462,640

$1,070,300

131.3%

$239

$388

62.5%

57

103

80.7%

$757,500

$2,210,000

191.7%

10

8

-20.0%

96.0%

92.0%

-4.1%

334 Tweet Place, Sedalia

MICROMARKET REPORT | South Metro livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

WHY COLORADO?

NATIONAL PARKS: 4

MOUNTAIN RANGES: 7

AVERAGE DAYS OF SUNSHINE ANNUALLY: 300

SKI AREAS & RESORTS: 28

CRAFT BREWERIES: 350+

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.