MICROMARKET REPORT |
South Metro • Mid-Year 2019
SOUTH METRO NEIGHBORHOODS 1. Inverness 2.
3. Backcountry
1 2
5
3
4
6
7 8 9
10
Highlands Ranch
4.
Firelight/Highlands Ranch
5.
Lone Tree
6.
Castle Pines
7.
The Village Castle Pines
8.
Pradera & Timbers
9. Sedalia 10.
The Meadows
11.
Castle Rock
12.
Keene Ranch
13. Bell Mountain Ranch 11
15. Broadmoor
12 13
14
14. Larkspur
15
16.
Colorado Springs
16
Pictured on cover: 13043 Whisper Canyon Road
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 Featuring some of the Denver area’s most influential neighborhoods, Denver’s South Metro is home to many sought-after communities including The Village Castle Pines, Castle Rock, Highlands Ranch, and Broadmoor – to name a few. Spanning along the southern I-25 corridor, South Metro is also home to the Denver Technological Center (better known as the Denver Tech Center or DTC) which is the location for numerous Fortune 500 companies. South Metro provides a lifestyle of ease with the inclusion of the Centennial Airport, plentiful shopping destinations, renowned golf courses, recreational activities, and an abundance of restaurants.
January – June 2019 Highlights:
As an attractive destination for many to call home, residents of South Metro will enjoy nearby parks, scenery, national forests, and the open space that Colorado is known for. Properties within these neighborhoods often feature large lots with expansive views or condominiums with added amenities. LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance for January through June 2019 compared to that of 2018. The Mid-Year Report proves an increase in activity, especially for the number of properties sold. Broadmoor reported a 39.3% increase in properties sold to 85 properties January through June of 2019, from 61 during the same time frame of 2018. Backcountry also reported a similar increase in properties sold by 39% to 57 properties sold in 2019, from 41 in 2018. In addition to an increase in properties sold, average price also increased in some areas including a 13.4% increase in average price for Sedalia to $864,945 in 2019, from $762,917 in 2018. Overall, many South Metro neighborhoods reported increases in both average price and number of properties sold, indicating a very healthy and active real estate market. The report also indicates an increase in days on market, which means that buyers can also benefit from having a bit more time to make real estate decisions.
livsothebysrealty.com
Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2019 through June 30, 2019. 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.
• Broadmoor’s number of properties sold increased to 85 in 2019 compared to 61 in 2018 • Backcounty’s number of properties sold increased to 57 in 2019 compared to 41 in 2018 • Sedalia’s average price is $864,945
39.3%
39.0%
13.4%
MICROMARKET REPORT | South Metro 2019 • COLORADOMICROREPORTS.COM
BACKCOUNTRY January through June
2018
2019
Average Price
$1,191,437
$1,098,748
-7.8%
$334
$338
1.4%
57
68
19.3%
$2,767,865
$2,601,833
-6.0%
41
57
39.0%
99.2%
97.6%
-1.6%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
39.0%
January through June 2019, the average number of properties sold in Backcountry increased by 39.0% compared to that of 2018.
BELL MOUNTAIN RANCH January through June Average Price
2018
$961,864
7.1%
$321
$347
8.0%
158
124
-21.5%
$1,200,000
$1,695,000
41.3%
14
11
-21.4%
96.7%
97.1%
0.5%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$898,286
Average Price per Square Foot
Highest Price
2019
750 Bold Sun Circle, Bell Mountain Ranch
BROADMOOR/CO SPRINGS January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$618,588
$659,173
6.6%
$154
$169
9.7%
57
56
-1.8%
$1,750,000
$2,900,000
65.7%
61
85
39.3%
98.0%
98.5%
0.5%
6.6%
January through June 2019, the average price in Broadmoor increased by 6.6% compared to that of 2018.
coloradomicroreports.com
CASTLE PINES January through June Average Price
2018
$716,413
-0.3%
$248
$253
2.0%
51
44
-13.7%
$1,800,000
$2,400,000
33.3%
108
72
-33.3%
97.0%
97.0%
0.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$718,761
Average Price per Square Foot
Highest Price
2019
1023 Anaconda Drive, Castle Pines
21.5%
January through June 2019, the average days on market in The Village Castle Pines decreased by 21.5% compared to that of 2018.
THE VILLAGE CASTLE PINES January through June
2018
2019
Average Price
$1,174,156
$1,269,133
8.1%
$333
$381
14.4%
135
106
-21.5%
$4,300,000
$2,675,000
-37.8%
81
71
-12.3%
94.5%
95.0%
0.5%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
CASTLE ROCK January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$427,160
$451,828
5.8%
$233
$227
-2.5%
35
36
2.9%
$1,238,126
$1,785,000
44.2%
180
183
1.7%
99.2%
98.4%
-0.8%
2178 Sierra Verde Court, Castle Rock
MICROMARKET REPORT | South Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
COLORADO SPRINGS January through June Average Price
2018
$371,400
11.5%
$136
$144
5.9%
23
25
8.7%
$2,200,000
$2,900,000
31.8%
3,855
3,863
0.2%
100.0%
100.3%
0.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$333,143
Average Price per Square Foot
Highest Price
2019
12735 Bridle Bit Road, Colorado Springs
FIRELIGHT/HIGHLANDS January through June Average Price
2018
$593,155
3.7%
$234
$236
0.9%
15
23
53.3%
$920,000
$1,060,000
15.2%
28
22
-21.4%
98.9%
100.0%
1.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$571,793
Average Price per Square Foot
Highest Price
2019
3.7%
January through June 2019, the average price in the neighborhood of Firelight/Highlands increased by 3.7% compared to that of 2018.
HIGHLANDS RANCH January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$517,616
$516,456
-0.2%
$250
$256
2.3%
12
17
41.7%
$2,767,865
$4,595,032
66.0%
276
304
10.1%
100.4%
99.0%
-1.4% 10275 Dowling Court, Highlands Ranch
coloradomicroreports.com
INVERNESS
1.5%
January through June
2018
Average Price
$448,808
$455,753
1.5%
$311
$320
3.1%
36
41
13.9%
$820,000
$675,000
-17.7%
26
17
-34.6%
98.2%
97.0%
-1.2%
Average Price per Square Foot Average Days on Market
January through June 2019, the average price in the neighborhood of Inverness increased by 1.5% compared to that of 2018.
Highest Price Properties Sold % Sold Price to List Price
2019
% Change
KEENE RANCH January through June
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.
Average Price
2018
$1,168,250
-0.8%
$417
$351
-15.8%
114
139
21.9%
$2,375,000
$1,500,000
-36.8%
7
6
-14.3%
87.8%
91.9%
4.6%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$1,177,143
Average Price per Square Foot
Highest Price
2019
LARKSPUR January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$674,559
$755,286
12.0%
$274
$295
7.5%
74
77
4.1%
$2,440,000
$3,440,000
41.0%
64
46
-28.1%
97.9%
97.0%
-0.9%
18501 County Road 1, Larkspur
MICROMARKET REPORT | South Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
LONE TREE January through June
2018
Average Price
% Change
$772,111
$790,611
2.4%
$278
$310
11.5%
45
43
-4.4%
$2,400,000
$2,175,000
-9.4%
132
110
-16.7%
97.7%
97.0%
-0.7%
Average Price per Square Foot Average Days on Market Highest Price
2019
Properties Sold % Sold Price to List Price
4.4%
The average days on market in Lone Tree decreased by 4.4% January through June 2019 compared to that of 2018.
THE MEADOWS January through June Average Price
2018
$463,591
-1.7%
$217
$224
3.1%
22
50
127.3%
$772,000
$770,000
-0.3%
226
284
25.7%
99.4%
98.0%
-1.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$471,392
Average Price per Square Foot
Highest Price
2019
PRADERA & TIMBERS January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
3444 Springmeadow Circle, The Meadows
2019
% Change
$801,525
$691,452
-13.7%
$242
$245
1.1%
47
63
34.0%
$1,725,000
$1,900,000
10.1%
61
54
-11.5%
98.7%
96%
-2.7%
1.1%
The average price per square foot in Pradera & Timbers increased by 1.1% January through June 2019 compared to that of 2018.
coloradomicroreports.com
SEDALIA January through June
2018
Average Price
% Change
$762,917
$864,945
13.4%
$338
$366
8.3%
37
87
135.1%
$3,026,700
$2,210,000
-27.0%
23
28
21.7%
97.6%
94%
-3.7%
Average Price per Square Foot Average Days on Market Highest Price
2019
Properties Sold % Sold Price to List Price
5092 S Perry Park Road, Sedalia
WHY COLORADO ?
NATIONAL PARKS: 4
MOUNTAIN RANGES: 7
AVERAGE DAYS OF SUNSHINE ANNUALLY: 300
SKI AREAS & RESORTS: 28
CRAFT BREWERIES: 350+
MICROMARKET REPORT | South Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
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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.