South Metro Q1 2020 Micro Market Report

MICROMARKET REPORT

SOUTH METRO | Q1 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: 318 Paragon Way, Castle Rock

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SOUTH METRO MARKET UPDATE

The South Metro communities found in Douglas County are a lively collection of neighborhoods that are becoming a hub for business, shopping, and entertainment outside of downtown Denver. A short drive down I-25 South will land you in some South Metro beautiful neighborhoods such as The Village at Castle Pines, Castle Rock, Highlands Ranch, and Lone Tree. These towns are home to spacious subdivisions, landmark developments, and plenty of new construction. The continual growth and evolution of this area ensure that the real estate market will remain strong.

LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance during Q1 of 2020 compared to that of 2019. Douglas County as a whole saw an impressive 24.2% increase in the January through March 2019 2020 number of new listings, met with a 34.7% New Listings 2,213 2,748 increase in the number of sold listings. Of the 29 neighborhoods that make up South Metro, Sold Listings (All Properties) 1,449 1,952 many saw increases in home prices. Forest Average Price Single Family $545,274 $563,171 Park saw the largest increase in average price Average Price Attached Dwellings 46 52 during Q1, rising by 43.9% compared to Q1 of Average Days on Market 97.6% 98.1% 2019. The average price for homes in this area through March of this year was $822,625. % Sold Price to Original List Price $790,945,445 $912,337,133

DOUGLAS COUNTY

Total Dollar Volume Sold

$18,586,566,313

$19,649,402,461

% Change 24.2% 34.7% 3.3% 13.0% 0.4% 15.3% 5.7%

The number of properties sold grew in several communities as well. By far the most notable increase was seen in Pradera and Timbers. In a comparison of Q1 performances from 2020 to 2019, there were 100% more listings sold in Pradera and Timbers this year, when 26 homes were sold, compared to the 13 homes sold in 2019.

Homes in Ridgegate experienced a notable decrease in the average days on market during Q1 of this year. The neighborhood saw a 42.3% drop in the average time a home spent on the market, bringing the average to just 45 days.

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 March 31, 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

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

2019

2020

% Change

$1,233,208

$1,014,888

-17.7%

$330

$349

5.8%

52

75

44.2%

$4,595,032

$2,800,000

-39.1%

22

25

13.6%

96.7%

97.0%

0.2%

1042 Southbury Place, Highlands Ranch

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

12.4%

2019

2020

% Change

$909,583

$865,000

-4.9%

$361

$357

-1.2%

89

78

-12.4%

$1,640,000

$875,000

-46.6%

neighborhood of Bell Mountain Ranch decreased

6

2

-66.7%

by 12.4% January through March 2020

95.7%

98.1%

2.5%

compared to that of 2019.

The average days on market for the

BROADMOOR January through March

Home to the famous

Average Price

Broadmoor Resort, this

Average Price per Square Foot

neighborhood includes

Average Days on Market

homes ranging from

Highest Price

moderate to high-end.

Properties Sold % Sold Price to List Price

2019

2020

% Change

$618,373

$697,424

12.8%

$168

$182

8.3%

90

69

-23.3%

$1,425,000

$2,200,000

54.4%

41

52

26.8%

96.7%

98.2%

1.6%

coloradomicroreports.com

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

2019

2020

% Change

$631,338

$660,047

4.5%

$241

$241

0.2%

48

45

-6.3%

$1,223,868

$1,100,000

-10.1%

20

16

-20.0%

97.6%

97.2%

-0.4%

908 Meadowrose Lane, Castle Pines

24.3%

CASTLE ROCK January through March Average Price Average Price per Square Foot

The number of properties sold in Castle Rock

Average Days on Market

increased by 24.3% January through March

Highest Price

2020 compared to that of 2019.

Properties Sold % Sold Price to List Price

2019

2020

% Change

$488,270

$521,997

6.9%

$221

$254

15.1%

63

39

-38.1%

$1,785,000

$3,000,000

68.1%

70

87

24.3%

98.7%

98.5%

-0.2%

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

2019

2020

% Change

$1,035,600

$994,525

-4.0%

$247

$271

9.9%

95

157

65.3%

$1,253,000

$1,135,000

-9.4%

5

4

-20.0%

90.8%

89.6%

-1.4%

18852 E Long Ave, Centennial

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

2019

2020

% Change

$346,118

$385,485

11.4%

$153

$166

8.5%

40

28

-30.0%

$1,975,000

$2,200,000

11.4%

2,706

2,782

2.8%

99.6%

100.2%

0.6%

1555 Cutler Point, Colorado Springs

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

8.2%

2019

2020

% Change

$428,117

$521,665

21.9%

$211

$229

8.2%

37

68

83.8%

The average price per square foot for the

$463,500

$720,000

55.3%

neighborhood of Crystal Valley increased by

9

6

-33.3%

8.2% January through March 2020 compared

98.9%

96.5%

-2.4%

to that of 2019.

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

2019

2020

% Change

$495,535

$490,919

-0.9%

$243

$258

6.0%

16

10

-37.5%

$750,000

$670,000

-10.7%

31

26

-16.1%

99.2%

100.2%

1.0%

coloradomicroreports.com

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

2019

2020

% Change

$1,100,000

$1,326,250

20.6%

$253

$335

32.5%

287

49

-82.9%

$1,100,000

$1,605,000

45.9%

1

4

300.0%

86.3%

95.5%

10.7%

82.9% The average days on market for the

neighborhood of Falcon Hills decreased by 82.9% January through March 2020 compared to that of 2019.

FIRELIGHT January through March

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

Highest Price

Mountain foothills and

Properties Sold % Sold Price to List Price

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

2019

2020

% Change

$571,750

$822,625

43.9%

$255

$284

11.3%

78

76

-2.6%

$754,000

$950,500

26.1%

4

4

0.0%

92.6%

97.5%

5.3%

2019

2020

% Change

$510,403

$548,553

7.5%

$254

$254

-0.3%

32

30

-6.3%

$715,000

$725,000

1.4%

14

19

35.7%

98.9%

97.7%

-1.2%

26.1%

The highest price sold in the neighborhood of Forest Park increased by 26.1% January

through March 2020 compared to that of 2019.

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

2019

2020

% Change

$876,300

$712,500

-18.7%

$285

$228

-19.9%

7

83

1085.7%

$1,075,000

$737,500

-31.4%

3

3

0.0%

99.8%

95.5%

-4.4%

HERITAGE ESTATES January through March Average Price

2019

2020

% Change

$1,932,500

-

-

$417

-

-

21

-

-

$2,175,000

-

-

2

No Sales

-

96.62%

-

-

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

12.5%

The number of properties sold in the

neighborhood of Heritage Hills increased by 12.5% January through March 2020 compared to that of 2019.

Hertiage Estates began development in the early 1990’s. This community is located on and is built around the fairways of the Lone Tree Golf Course.

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

2019

2020

% Change

$1,207,022

$1,011,501

-16.2%

$350

$312

-10.8%

16

84

425.0%

$1,675,000

$1,420,000

-15.2%

8

9

12.5%

97.80%

96.0%

-1.8%

coloradomicroreports.com

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

2019

2020

% Change

$569,387

$593,170

4.2%

$261

$268

2.8%

29

29

0.0%

$4,595,032

$2,800,000

-39.1%

282

310

9.9%

98.3%

98.5%

0.3%

4.2%

The average price in Highlands Ranch increased by 4.2% January through March

2020 compared to that of 2019.

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

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

2019

2020

% Change

$1,183,750

$1,035,000

-12.6%

$378

$319

-15.5%

97

72

-25.8%

$1,500,000

$1,220,000

-18.7%

4

2

-50.0%

92.1%

85.7%

-6.9%

2019

2020

% Change

$585,857

$590,778

0.8%

$239

$230

-3.8%

89

128

43.8%

$780,000

$726,600

-6.8%

27

20

-25.9%

97.6%

96.9%

-0.7%

25.8% The average days on market for the

neighborhood of Keene Ranch decreased by 25.8% January through March 2020 compared to that of 2019.

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

2019

2020

% Change

$729,596

$665,958

-8.7%

$269

$271

0.8%

89

55

-38.2%

$1,675,000

$1,000,000

-40.3%

14

24

71.4%

97.0%

97.4%

0.5%

1812 Arsata Place, Larkspur

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

2019

2020

% Change

$945,619

$858,218

-9.2%

$319

$278

-12.8%

36

51

41.7%

$2,175,000

$1,730,000

-20.5%

33

29

-12.1%

97.63%

97.1%

-0.5%

25.5%

The average days on market for the

neighborhood of The Meadows decreased by 25.5% January through March 2020 compared to that of 2019.

Lone Tree is a large suburban neighborhood that was incorporated into the south metro area of Denver in 1996.

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

2019

2020

% Change

$455,570

$490,473

7.7%

$228

$225

-1.3%

51

38

-25.5%

$705,000

$750,000

6.4%

102

99

-2.9%

97.5%

98.6%

1.2%

coloradomicroreports.com

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

2019

2020

% Change

$993,833

$915,306

-7.9%

$243

$249

2.4%

126

85

-32.5%

$1,900,000

$1,625,000

-14.5%

13

26

100.0%

94.0%

96.2%

2.4%

5415 Sage Thrasher Road, Parker

RAVENNA January through March

Located within Roxborough

Average Price

Park, this area is known for

Average Price per Square Foot

its dramatic red sandstone

Average Days on Market

formations

Highest Price Properties Sold % Sold Price to List Price

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

2019

2020

% Change

$1,749,154

$2,045,229

16.9%

$599

$699

16.7%

144

164

13.9%

$1,749,154

$3,047,125

74.2%

5

6

20.0%

90.5%

99.5%

10.0%

25.0%

2019

2020

% Change

$691,838

$484,900

-29.9%

$292

$287

-1.8%

78

45

-42.3%

$1,225,000

$825,000

-32.7%

neighborhood of Ridgegate increased by 25.0%

8

10

25.0%

January through March 2020 compared to that

95.27%

97.3%

2.1%

of 2019.

The number of properties sold in the

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

2019

2020

% Change

$656,800

$662,757

0.9%

$282

$301

6.7%

40

68

70.0%

$1,032,500

$810,000

-21.5%

11

7

-36.4%

96.5%

96.9%

0.4%

11153 Beatrice Court, Littleton

SPIRIT RIDGE January through March

2019

2020

% Change

Average Price

-

$1,145,000

-

Average Price per Square Foot

-

$296

-

Average Days on Market

-

13

-

Highest Price

-

$1,200,000

-

No Sales

2

-

-

93.3%

-

Properties Sold % Sold Price to List Price

27.5%

The average days on market for the

neighborhood of Sterling Ranch decreased by 27.5% January through March 2020 compared to that of 2019.

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

2019

2020

% Change

$616,636

$611,800

-0.8%

$246

$238

-3.1%

120

87

-27.5%

$860,000

$940,000

9.3%

19

22

15.8%

94.2%

96.3%

2.2%

coloradomicroreports.com

THE VILLAGE AT CASTLE PINES January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$1,326,313

$1,113,139

-16.1%

$403

$387

-3.9%

119

98

-17.6%

$2,540,000

$3,266,716

28.6%

25

29

16.0%

97.1%

93.7%

-3.5%

16.0% The number of properties sold in the The

Village at Castle Pines increased by 16.0% January through March 2020 compared to that of 2019.

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

2019

2020

% Change

$449,900

$474,893

5.6%

$264

$274

4.0%

25

14

-44.0%

$590,000

$645,000

9.3%

28

28

0.0%

98.5%

100.4%

2.0%

1042 Southbury Place, Highlands Ranch

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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.