MICROMARKET REPORT
SOUTH METRO | MID-YEAR 2020
SOUTH METRO NEIGHBORHOODS 1. Backcountry
16. Highlands Ranch
2. Bell Mountain Ranch
17. Inspiration
3. Broadmoor
18. Keene Ranch
4. Castle Pines
19. Larkspur
5. Castle Rock
20. Lone Tree
6. Chaparral/Chenango
21. The Meadows
7. Colorado Springs
22. Pradera & Timbers
8. Crystal Valley
23. Ravenna
9. Eastridge
24. Ridgegate
10. Falcon Hills
25. Roxborough Park
11. Firelight
26. Spirit Ridge
12. Forest Park
27. Sterling Ranch
13. Golf Club
28. The Village at Castle
14. Heritage Estates 15. Heritage Hills
23 25 6
17
16
29
9
15
20 14
1
24
11 22
27
26
4
28
Pines 29. Westridge
21
12 5 8 2
18
19
7
3
10
13
Pictured on cover: 9989 Preston Court, Castle Rock
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SOUTH METRO MARKET UPDATE Douglas County, home to the ever-evolving South Metro communities, is a collection of neighborhoods that are making their mark on Colorado. The shopping, dining, and entertainment options found here almost rival that of Denver. Pent up demand for homes in this community that had been building up throughout the spring when limited real estate activity inhibited many consumers from buying and selling homes has resulted in many positive increases throughout the area’s housing market. LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance from January through June of 2020 to the same time frame in 2019. Overall, homes in Douglas County saw a 1.7% increase in average price, rising to $565,139 so far this year compared to 2019 when the average price was $555,720. It is also important to note that despite the lack of real estate activity in March and most of April due to the pandemic, the total dollar volume sold is only down 2.9% from 2019 levels. Of the 29 neighborhoods that make up South Metro, many saw increases in home prices. Falcon Hills saw the largest increase in average price through June, rising by 22.3% compared to the same time period in 2019. The average price for homes in this area so far this year is $1,341,667. Many other communities also saw increases including Castle Rock and Colorado Springs which experienced rises in average prices by 10.1% and 8.1% respectively.
DOUGLAS COUNTY January through June
2019
2020
% Change
New Listings
5,522
5,150
-6.7%
Sold Listings (All Properties)
3,797
3,598
-5.2%
$555,720
$565,139
1.7%
36
36
0.0%
99.0%
99.2%
0.2%
$2,093,398,607
$2,033,371,066
-2.9%
Average Price Single Family Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold
Several neighborhoods within the South Metro community had an increase in the number of properties sold. Falcon Hills saw a 100% increase in properties sold through June of this year compared to January through June of 2019, from three sales in 2019 to six sales so far in 2020. The number of home sales in Raveena also climbed a notable amount, increasing by 22.2%, from nine homes sold in Q1 and Q2 of 2019 to 11 homes sold during the same time in 2020. South Metro is quickly becoming one of the more popular communities in the area to call home. With new homes, businesses, and entertainment options being added to the neighborhoods frequently, it’s no wonder homebuyers are jumping at the opportunity to buy and sell property in these neighborhoods.
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, 2020 through June 30, 2020. RSC does not guarantee or is in any way responsible for its accuracy. Data painted by RSC may not reflect all real estate activity in the market.
MICROMARKET REPORT | South Metro livsothebysrealty.com
JANUARY - JUNE 2020 • COLORADOMICROREPORTS.COM
BACKCOUNTRY January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,152,895
$1,070,548
-7.1%
$340
$360
6.1%
54
58
7.4%
$4,595,032
$2,986,405
-35.0%
66
42
-36.4%
97.5%
96.8%
-0.7%
10836 Manorstone Drive, Highlands Ranch
BELL MOUNTAIN RANCH January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
Bell Mountain Ranch is
$961,864
$943,929
-1.9%
nestled against the bluffs
$347
$361
4.0%
just south of Downtown
124
83
-33.1%
Castle Rock. Home sites
$1,695,000
$1,100,000
-35.1%
average between 5 to 12
11
6
-45.5%
acres with nearly 1,000
97.1%
97.3%
0.2%
acres open space.
BROADMOOR January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$645,896
$695,679
7.7%
$169
$180
6.5%
67
50
-25.4%
$2,900,000
$2,200,000
-24.1%
126
102
-19.0%
98.0%
99.0%
1.0%
1555 Cutler Point, Colorado Springs
coloradomicroreports.com
CASTLE PINES January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$723,164
$668,668
-7.5%
$249
$247
-1.2%
44
37
-15.9%
$2,400,000
$1,476,000
-38.5%
68
51
-25.0%
97.5%
97.1%
-0.4%
15.9% The averge days on market in Castle Pines decreased by 15.9% January through June 2020 compared to that of 2019.
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
2019
2020
% Change
$451,828
$497,550
10.1%
$227
$250
10.2%
36
33
-8.3%
$1,785,000
$3,000,000
68.1%
183
178
-2.7%
98.4%
98.5%
0.1%
7478 Sapphire Pointe Blvd, Castle Rock
CHAPARRAL/CHENANGO January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,045,000
$956,678
-8.5%
$255
$279
9.5%
72
143
98.6%
$1,253,000
$1,135,000
-9.4%
10
9
-10.0%
93.2%
88.8%
-4.7%
9.5%
The average price per sqaure foot in the area of Chaparral/Chenango increased by 9.5% January through June 2020 compared to that of 2019.
MICROMARKET REPORT | South Metro livsothebysrealty.com
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COLORADO SPRINGS January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$373,319
$403,632
8.1%
$144
$151
4.9%
22
18
-18.2%
$2,900,000
$2,250,000
-22.4%
6,480
6,226
-3.9%
99.90%
100.50%
0.6%
4340 Foxchase Way, Colorado Springs
CRYSTAL VALLEY January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
Eastridge is a neighborhood in south Aurora, built in late 1960’s and 1970’s. This community has easy access to the Denver Tech
2.0%
2019
2020
% Change
$483,482
$493,328
2.0%
$209
$209
0.2%
45
42
-6.7%
$1,020,000
$857,500
-15.9%
The average price in the neighborhood of
79
64
-19.0%
Crystal Valley increased by 2.0% January
97.8%
98.4%
0.6%
through June 2020 compared to that of 2019.
EASTRIDGE January through June Average Price Average Price per Square Foot Average Days on Market Highest Price
Center, Downtown Denver,
Properties Sold
shopping, and restaurants.
% Sold Price to List Price
2019
2020
% Change
$505,074
$512,202
1.4%
$250
$262
5.1%
13
10
-23.1%
$766,000
$805,000
5.1%
78
49
-37.2%
99.3%
100.3%
1.0%
coloradomicroreports.com
FALCON HILLS January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,096,667
$1,341,667
22.3%
$236
$326
38.0%
110
33
-70.0%
$1,170,000
$1,605,000
37.2%
3
6
100.0%
93.1%
96.6%
3.8%
28 Falcon Hills Drive, Highlands Ranch
FIRELIGHT January through June
Firelight is a community
Average Price
in Highlands Ranch with
Average Price per Square Foot
magnificent panoramic
Average Days on Market
views of the Rocky Mountain
Highest Price
foothills and frontrange.
Properties Sold % Sold Price to List Price
FOREST PARK January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$832,514
$817,900
-1.8%
$323
$279
-13.6%
66
61
-7.6%
$1,059,000
$950,500
-10.2%
5
5
0.0%
94.2%
99.4%
5.5%
2019
2020
% Change
$574,299
$592,875
3.2%
$238
$253
6.3%
23
25
8.7%
$1,060,000
$975,000
-8.0%
52
44
-15.4%
99.2%
98.4%
-0.8%
7.6% The average days on market in the neighborhood of Forest Park decreased by 7.6% January through June 2020 compared to that of 2019.
MICROMARKET REPORT | South Metro livsothebysrealty.com
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19.5%
GOLF CLUB January through June Average Price Average Price per Square Foot
The highest price in the area of Golf Club
Average Days on Market
increased by 19.5% January through June 2020
Highest Price
compared to that of 2019.
Properties Sold % Sold Price to List Price
2019
2020
% Change
$766,900
$885,750
15.5%
$266
$265
-0.3%
22
38
72.7%
$1,075,000
$1,285,000
19.5%
11
10
-9.1%
99.9%
98.5%
-1.5%
HERITAGE ESTATES January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,830,000
$1,700,000
-7.1%
$406
$309
-24.0%
17
98
476.5%
$2,175,000
$1,700,000
-21.8%
3
1
-66.7%
97.2%
97.1%
-0.1%
8481 Colonial Drive, Lone Tree
HERITAGE HILLS Located near the Lone
January through June
Tree Golf Club and Hotel,
Average Price
Park Meadows Mall, and
Average Price per Square Foot
Denver Tech Center,
Average Days on Market
Heritage Hills is ideally
Highest Price
located for easy access to
Properties Sold
the many south-Denver
% Sold Price to List Price
2019
2020
% Change
$1,170,573
$1,202,337
2.7%
$336
$357
6.4%
29
62
113.8%
$1,819,268
$1,989,428
9.4%
28
15
-46.4%
97.5%
97.8%
0.2%
ammenities.
coloradomicroreports.com
HIGHLANDS RANCH January through June Average Price Average Price per Square Foot
2019
2020
% Change
$587,547
$590,006
0.4%
$263
$271
3.3%
21
20
-4.8%
$4,595,032
$2,986,405
-35.0%
753
695
-7.7%
98.9%
99.0%
0.1%
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
1556 Saltbush Ridge Road, Highlands Ranch
1.5%
The average price per square foot in the
neighborhood of Inspiration increased by 1.5% January through June 2020 compared to that
INSPIRATION January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
of 2019.
2019
2020
% Change
$617,743
$589,147
-4.6%
$243
$247
1.5%
90
120
33.3%
$904,000
$726,600
-19.6%
57
44
-22.8%
97.4%
97.9%
0.6%
KEENE RANCH January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,168,250
$1,070,000
-8.4%
$351
$328
-6.6%
71
58
-18.3%
$1,500,000
$1,220,000
-18.7%
6
3
-50.0%
91.9%
86.6%
-5.7%
2530 Castle Butte Drive, Castle Rock
MICROMARKET REPORT | South Metro livsothebysrealty.com
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LARKSPUR January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$755,286
$785,833
4.0%
$295
$289
-2.0%
77
56
-27.3%
$3,440,000
$4,115,000
19.6%
46
45
-2.2%
97.0%
97.6%
0.6%
4409 Triple Eagle Trail, Larkspur
LONE TREE January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$968,774
$902,586
-6.8%
$316
$291
-7.9%
37
48
29.7%
$2,175,000
$1,989,428
-8.5%
73
61
-16.4%
97.1%
97.0%
-0.1%
Lone Tree is a large suburban neighborhood that was incorporated into the south metro area of Denver in 1996.
THE MEADOWS January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$470,580
$496,041
5.4%
$225
$227
1.1%
48
30
-37.5%
$765,000
$810,000
5.9%
247
225
-8.9%
98.1%
99.0%
0.9%
3480 Starry Night Loop, Castle Rock
coloradomicroreports.com
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
7.8%
2019
2020
% Change
$934,004
$917,299
-1.8%
$246
$264
7.2%
68
67
-1.5%
$1,900,000
$1,787,530
-5.9%
The number of properties sold in the area of
51
55
7.8%
Pradera & Timbers increased by 7.8% January
96.7%
96.9%
0.2%
through June 2020 compared to that of 2019.
RAVENNA January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,758,513
$1,976,247
12.4%
$629
$703
11.8%
116
142
22.4%
$2,350,000
$3,047,125
29.7%
9
11
22.2%
96%
101.4%
5.5%
11153 Beatrice Court, Littleton
RIDGEGATE January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
6.7%
2019
2020
% Change
$645,895
$648,316
0.4%
$276
$287
3.9%
37
56
51.4%
$1,225,000
$1,307,579
6.7%
The highest price for the neighborhood of
20
19
-5.0%
Ridgegate increased by 6.7% January through
98%
95.9%
-1.8%
June 2020 compared to that of 2019.
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ROXBOROUGH PARK January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$645,914
$719,181
11.3%
$284
$328
15.7%
36
55
52.8%
$1,075,000
$2,400,000
123.3%
22
21
-4.5%
97%
99.2%
2.1%
5820 Rain Dance Trail, Littleton
SPIRIT RIDGE January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
46.6%
2019
2020
% Change
$1,129,700
$1,326,669
17.4%
$316
$310
-2.0%
96
115
19.8%
$1,280,000
$1,875,844
46.6%
The highest price in the neighborhood of Spirit
5
5
0.0%
Ridge increased by 46.6% January through June
91%
93.6%
2.5%
3.4%
2020 compared to that of 2019.
STERLING RANCH January through June Average Price Average Price per Square Foot Average Days on Market
The average price for the neighborhood of
Highest Price
Sterling Ranch increased by 3.4% January
Properties Sold
through June 2020 compared to that of 2019.
% Sold Price to List Price
2019
2020
% Change
$612,150
$633,164
3.4%
$235
$242
3.3%
87
92
5.7%
$860,000
$1,015,000
18.0%
48
47
-2.1%
95%
96.8%
2.0%
coloradomicroreports.com
THE VILLAGE AT CASTLE PINES January through June Average Price
2019
2020
% Change
$1,320,403
$1,202,606
-8.9%
$390
$383
-1.6%
73
96
31.5%
$2,675,000
$3,266,716
22.1%
66
55
-16.7%
96.6%
94.0%
-2.7%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
1105 Northwood Lane, Castle Rock
33.3%
WESTRIDGE January through June Average Price Average Price per Square Foot Average Days on Market
The average days on market for the
Highest Price
neighborhood of Westridge decreased by
Properties Sold
33.3% January through June 2020 compared
% Sold Price to List Price
2019
2020
% Change
$475,094
$478,805
0.8%
$265
$280
5.6%
15
10
-33.3%
$695,000
$780,000
12.2%
66
71
7.6%
99%
100.5%
1.1%
to that of 2019.
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The life you love.
livsothebysrealty.com | coloradomicroreports.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, 2019 through December 31, 2019. RSC does not guarantee or is in any way responsible for its accuracy. Data painted by RSC may not reflect all real estate activity in the market.
