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.