South Metro Q3 2019 Micro Market Report

MICROMARKET REPORT |

South Metro • Q3 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

14. Larkspur 15. Broadmoor

12 13

14

15

16.

Colorado Springs

16

Pictured on cover: 2 Borealis Way

coloradomicroreports.com

SOUTH METRO market update Denver’s South Metro contains some of the most desirable neighborhoods in the Denver area. This region provides access to shopping, restaurants, and outdoor activities. Some of the communities within this area include The Village at Castle Pines, Castle Rock, Highlands Ranch, and Broadmoor. This region is also home to a major business hub, the Denver Technological Center, better known to locals as the Denver Tech Center or DTC. With no shortage of things to do, places to work and beautiful homes to live in, South Metro has something for everyone.

LIV Sotheby’s International Realty produces a South Metro Micro Market

January-September 2019 Highlights:

Report analyzing the real estate performance for January through September 2019 compared to that of 2018. Of the 16 neighborhoods that make up South Metro, many saw increases in home prices. Pradera and Timbers had one of the largest rises in home prices with an impressive 15.3% increase. Homes in these neighborhoods average approximately $941,067 as compared it $815,962 in 2018.

Some neighborhoods experienced an increase in properties sold, proving

• Pradera & Timbers’ average price is $941,067

15.3%

• Keene Ranch sold 9 properties

28.6%

once again that South Metro is a popular place to buy a home. Homebuying activity in Keene Ranch grew by 28.6%, with 9 homes sold through Q3 of this year in comparison to 7 homes during the same time frame in 2018.

In addition to the amount of homes sold, some neighborhoods also saw a

• The Village at Castle Pines’ average days on market is 94

31.9%

decrease in the average days on market. The Village at Castle Pines’ days on market shrunk by -31.9%, making the current days on market average just 94 days for Q1 through Q3 of this year, compared to 138 days in the same time

period in 2018.

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 2019 • COLORADOMICROREPORTS.COM

BACKCOUNTRY January through September

2018

2019

Average Price

$1,121,425

$1,142,645

1.9%

$330

$349

5.8%

67

63

-6.0%

$2,550,000

$4,595,032

80.2%

85

94

10.6%

98%

97%

-0.6%

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

% Change

80.2%

January through September 2019, the highest price in the neighborhood of Backcountry increased by 80.2% compared to that of 2018.

BELL MOUNTAIN RANCH January through September Average Price

2018

$929,139

3.5%

$316

$344

8.9%

154

112

-27.3%

$1,400,000

$1,695,000

21.1%

18

18

0.0%

95.4%

96%

1.1%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$897,333

Average Price per Square Foot

Highest Price

2019

BROADMOOR/CO SPRINGS January through September 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%

96%

-13.9%

21.2%

January through September 2019, the average days on market in the neighborhood of Broadmoor decreased by 21.2% compared to that of 2018.

coloradomicroreports.com

CASTLE PINES January through September Average Price

2018

% Change

$730,538

$747,159

14.3%

$248

$261

7.8%

56

50

21.7%

$1,925,670

$2,400,000

7.8%

171

176

-8.0%

97%

97%

1.0%

Average Price per Square Foot Average Days on Market Highest Price

2019

Properties Sold % Sold Price to List Price 1102 Forest Trails Drive, Castle Pines

12.8%

January through September 2019, the average price per square foot in the neighborhood of The Village at Castle Pines increased by 12.8% compared to that of 2018.

THE VILLAGE AT CASTLE PINES January through September

2018

Average Price

$1,191,863

$1,294,534

8.6%

$345

$389

12.8%

138

94

-31.9%

$4,300,000

$2,675,000

-37.8%

118

95

-19.5%

92.0%

96%

4.6%

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

2019

% Change

CASTLE ROCK January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$448,613

$448,616

0.0%

$235

$229

-2.6%

40

35

-12.5%

$2,544,000

$1,785,000

-29.8%

308

293

-4.9%

98.7%

98%

-0.7%

2940 Canon Ridge Road, Castle Rock

MICROMARKET REPORT | South Metro livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

COLORADO SPRINGS January through September 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

19679 Glen Shadows Drive, Colorado Springs

FIRELIGHT/HIGHLANDS January through September Average Price

2018

$577,939

0.0%

$231

$233

0.9%

19

26

36.8%

$920,000

$1,060,000

15.2%

35

38

8.6%

98.8%

99%

0.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$577,886

Average Price per Square Foot

Highest Price

2019

15.2%

The highest price in Firelight/Highlands increased by 15.2% January through September 2019 compared to that of 2018.

HIGHLANDS RANCH January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$518,430

$520,532

0.4%

$249

$257

3.2%

13

18

38.5%

$2,930,758

$4,595,032

56.8%

511

460

-10.0%

99.8%

99%

-0.9%

10285 Dowling Court, Highlands Ranch

coloradomicroreports.com

INVERNESS January through September Average Price

2018

$497,700

6.3%

$316

$330

4.5%

38

49

28.9%

$1,018,000

$1,300,000

27.7%

35

31

-11.4%

97.9%

97%

-1.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$468,257

Average Price per Square Foot

Highest Price

2019

KEENE RANCH January through September

Keene Ranch is nestled at the bast 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

$1,156,056

-1.8%

$417

$360

-13.7%

114

119

4.4%

$2,375,000

$1,500,000

-36.8%

7

9

28.6%

87.8%

94%

7.1%

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

2018

2019

% Change

$722,603

$740,977

2.5%

$277

$292

5.4%

67

68

1.5%

$6,750,000

$3,400,000

-49.6%

93

76

-18.3%

97.8%

97%

-0.9%

1960 Poncha Court, Larkspur

MICROMARKET REPORT | South Metro livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

LONE TREE January through September

2018

Average Price

% Change

$752,447

$811,741

7.9%

$280

$303

8.1%

40

43

7.5%

$2,400,000

$2,900,000

20.8%

196

181

-7.7%

97.5%

97%

-0.6%

Average Price per Square Foot Average Days on Market Highest Price

2019

Properties Sold % Sold Price to List Price

8.1%

The average price per square foot in Lone Tree increased by 8.1% January through September 2019 compared to that of 2018.

THE MEADOWS January through September Average Price

2018

$472,500

1.9%

$215

$225

4.5%

30

44

46.7%

$772,000

$825,000

6.9%

385

392

1.8%

98.8%

98%

-0.8%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$463,607

Average Price per Square Foot

Highest Price

2019

1953 Trailblazer Way, The Meadows

PRADERA & TIMBERS January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$815,962

$941,067

15.3%

$243

$268

10.3%

45

78

73.3%

$1,725,000

$1,900,000

10.1%

94

88

-6.4%

97.8%

97%

-1.0%

15.3%

The average price in Pradera & Timbers increased by 15.3% January through September 2019 compared to that of 2018.

coloradomicroreports.com

SEDALIA January through September Average Price

2018

2019

$725,379

$805,171

11.0%

$344

$386

12.2%

58

73

25.9%

$3,026,700

$2,210,000

-27.0%

42

37

-11.9%

95.4%

95%

-0.1%

Average Price per Square Foot Average Days on Market Highest Price

% Change

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

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.