MICROMARKET REPORT
SOUTH METRO | Q3 2020
SOUTH METRO NEIGHBORHOODS 1. Backcountry 2. Bell Mountain Ranch 3. Castle Pines 4. Castle Rock 5. Chaparral/Chenango 6. Crystal Valley 15
7. Eastridge
8 11
8. Falcon Hills
13 7 14
9. Firelight
12
27
18
11. Golf Club
1
5
22
10. Forest Park 9
12. Heritage Estates 25
13. Heritage Hills
24 21
14. Highlands Ranch 15. Inspiration 16. Keene Ranch
23 3
10
17. Larkspur 18. Lone Tree
20
19. The Meadows 26
20. Pradera & Timbers 21. Ravenna 22. Ridgegate 19
23. Roxborough Park 24. Spirit Ridge 25. Sterling Ranch
4
26. The Village at Castle Pines 16
17
2
6
27. Westridge Pictured on cover: 6501 Jackson Creek Road, Sedalia
coloradomicroreports.com
SOUTH METRO MARKET UPDATE South of Denver, Douglas County is home to a collection of neighborhoods that offer a laid-back lifestyle, ample options for shopping, dining, and exciting new businesses. The communities within South Metro such as The Village at Castle Pines, Castle Rock, Highlands Ranch, and Lone Tree are home to great neighborhoods with iconic developments, new construction, and plenty of opportunities for homebuyers and sellers to achieve their real estate goals. With many homebuyers looking for city-like amenities with more space, the South Metro real estate market has been buzzing with buying and selling activity. LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance from January through September of 2020 to the same time frame in 2019. Overall, Douglas County saw a 9.6% increase in sold listings through Q3 of this year. Additionally, the average price for homes in this highly sought-after community rose by 4%, from $554,900 through Q3 in 2019 to $577,012 during the same period of time in 2020. Both of these increases contributed to the 14% boost in total dollar volume sold, which totaled $3,809,434,985 through September. Of the 27 neighborhoods that make up South Metro, many experienced a rise in the amount of homes sold. Falcon Hills saw an impressive 100% increase in properties sold, growing from five homes sold through September of 2019 to 10 homes sold so far this year. Other communities that had increases in listings sold include Highlands Ranch (+7.2%), Castle Rock (+11.9%), and The Village at Castle Pines (+13.5%), to name a few.
DOUGLAS COUNTY January through September
2019
2020
% Change
New Listings
8,098
7,770
-4.1%
Sold Listings (All Properties)
6,023
6,602
9.6%
$554,900
$577,012
4.0%
36
33
-8.3%
98.8%
99.4%
0.6%
Average Price Single Family Average Days on Market % Sold Price to Original List Price
Total Dollar Volume Sold $3,342,164,470 $3,809,434,985 14.0% Several individual communities saw an increase in the average prices of homes through September of this year. The most significant increase in average price was seen in Spirit Ridge, where prices rose by 14.3%, making the average price for homes in the area $1,284,724.
Homebuyers are proving to be very motivated so far in 2020 with many areas decreasing in the average days homes spent on the market. In Keene Ranch, homes sold in an average of 39 days, a 67.2% drop from 2019 when the average days on market in this neighborhood was 119 days. Castle Rock also experienced quicker sales, with an average days on market of just 27 days, a 22.9% decrease from last year. South Metro is home to an assortment of neighborhoods with enough fun happenings, businesses opportunities, and space for consumers of all kinds. Here, sellers can find success and buyers can create a new beginning in the real estate market.
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 September 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 - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
BACKCOUNTRY January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,142,645
$1,070,365
-6.3%
$349
$350
0.2%
63
55
-12.7%
$4,595,032
$3,000,000
-34.7%
94
75
-20.2%
97.4%
96.1%
-1.3%
10836 Manorstone Drive, Highlands Ranch
BELL MOUNTAIN RANCH January through September 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
$929,139
$929,629
0.1%
nestled against the bluffs
$344
$347
0.8%
just south of Downtown
112
76
-32.1%
Castle Rock. Home sites
$1,695,000
$1,250,000
-26.3%
average between 5 to 12
18
17
-5.6%
acres with nearly 1,000
96.4%
95.2%
-1.3%
acres of open space.
CASTLE PINES January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,296,153
$1,251,611
-3.4%
$390
$372
-4.7%
73
72
-1.4%
$2,675,000
$3,266,716
22.1%
96
109
13.5%
96.2%
94.5%
-1.7%
6916 Murphy Creek Lane, Castle Pines
coloradomicroreports.com
CASTLE ROCK January through September Average Price
2019
2020
% Change
$448,616
$479,587
6.9%
$229
$251
9.7%
35
27
-22.9%
$1,785,000
$3,000,000
68.1%
293
328
11.9%
98.0%
98.8%
0.9%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
228 Emerald Drive, Castle Rock
CHAPARRAL/CHENANGO January through September
These neighborhoods
Average Price
are both quiet and well-
Average Price per Square Foot
maintained complete with
Average Days on Market
plenty of nearby walking
Highest Price
trails.
Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,080,357
$1,035,385
-4.2%
$256
$285
11.5%
70
112
60.0%
$1,550,000
$1,650,000
6.5%
14
13
-7.1%
92.9%
91.1%
-2.0%
CRYSTAL VALLEY January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$487,337
$496,452
1.9%
$210
$209
-0.4%
45
36
-20.0%
$1,100,000
$857,000
-22.1%
124
124
0.0%
97.8%
98.8%
1.0%
2876 Hillcroft Lane, Castle Rock
MICROMARKET REPORT | South Metro livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
EASTRIDGE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$500,515
$529,669
5.8%
$250
$270
8.1%
13
12
-7.7%
$785,000
$865,000
10.2%
115
100
-13.0%
99.3%
100.3%
0.9%
9630 Sydney Lane, Highlands Ranch
FALCON HILLS January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
44.7%
2019
2020
% Change
$1,122,672
$1,272,950
13.4%
$262
$316
20.3%
76
42
-44.7%
$1,225,000
$1,605,000
31.0%
The average days on market in the neighborhood of
5
10
100.0%
Falcon Hills decreased by 44.7% January through
93.5%
96.3%
3.1%
September 2020 compared to that of 2019.
FIRELIGHT This community features
January through September
two beautifully designed
Average Price
pavilions, multiple
Average Price per Square Foot
recreation centers,
Average Days on Market
playgrounds, parks, and
Highest Price
walking paths.
Properties Sold % Sold Price to List Price
2019
2020
% Change
$565,439
$608,497
7.6%
$240
$250
4.0%
23
19
-17.4%
$1,060,000
$975,000
-8.0%
92
88
-4.3%
98.9%
98.8%
-0.1%
coloradomicroreports.com
FOREST PARK January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$846,789
$916,357
8.2%
$298
$328
9.9%
59
47
-20.3%
$1,052,000
$1,365,000
29.8%
11
7
-36.4%
94.3%
99.4%
5.4%
19.5%
29.8% The highest price in the neighborhood of Forest Park increased by 29.8% January through September 2020 compared to that of 2019.
HIGHLANDS RANCH GOLF CLUB January through September Average Price Average Price per Square Foot Average Days on Market
The highest price in the area of Highlands Ranch
Highest Price
Golf Club increased by 19.5% January through
Properties Sold
September 2020 compared to that of 2019.
% Sold Price to List Price
2019
2020
% Change
$759,788
$815,549
7.3%
$257
$263
2.5%
25
53
112.0%
$1,075,000
$1,285,000
19.5%
17
16
-5.9%
99.1%
97.2%
-1.9%
HERITAGE ESTATES January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,938,571
$1,380,775
-28.8%
$377
$314
-16.9%
42
105
150.0%
$2,610,000
$1,700,000
-12.3%
7
3
-57.1%
93.2%
89.0%
-4.5%
9023 Meadow Hill Circle, Lone Tree
MICROMARKET REPORT | South Metro livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
9.4%
HERITAGE HILLS January through September Average Price Average Price per Square Foot
The highest price in the neighborhood of Heritage Hills increased by 9.4% January through September 2020 compared to that of 2019.
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,167,858
$1,147,836
-1.7%
$336
$333
-0.7%
30
46
53.3%
$1,819,286
$1,989,428
9.4%
38
32
-15.8%
97.1%
97.1%
0.0%
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
2019
2020
% Change
$581,275
$597,209
2.7%
$263
$272
3.4%
21
19
-9.5%
$4,595,032
$3,000,000
-34.7%
1,184
1,269
7.2%
98.7%
99.2%
0.4%
8726 Aberdeen Circle, Highlands Ranch
INSPIRATION January through September
Located five miles East of Downtown Parker, Inspiration is a popular community perfect for all ages.
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$614,958
$590,890
-3.9%
$240
$265
10.4%
91
114
25.3%
$904,000
$799,000
-11.6%
79
85
7.6%
97.2%
98.0%
0.8%
coloradomicroreports.com
KEENE RANCH January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,156,056
$1,247,857
7.9%
$360
$383
6.3%
119
39
-67.2%
$1,500,000
$1,750,000
16.7%
9
7
-22.2%
94.1%
94.2%
0.1%
67.2% The average days on market in the neighborhood of Keene Ranch decreased by 67.2% January through September 2020 compared to that of 2019.
LARKSPUR
The mountainous
January through September
community of Larkspur is
Average Price
located between Castle
Average Price per Square Foot
Rock and the Tri-Lakes area.
Average Days on Market
Larkspur is a great location
Highest Price
for those wanting a middle-
Properties Sold
ground between Denver and
% Sold Price to List Price
Colorado Springs.
2019
2020
% Change
$740,977
$747,815
0.9%
$292
$293
0.4%
68
51
-25.0%
$3,400,000
$4,115,000
21.0%
76
80
5.3%
96.9%
98.4%
1.5%
LONE TREE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$957,194
$881,143
-7.9%
$303
$287
-5.3%
38
39
2.6%
$2,610,000
$1,989,428
-23.8%
119
127
6.7%
96.4%
97.0%
0.6%
8481 Colonial Drive, Lone Tree
MICROMARKET REPORT | South Metro livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
THE MEADOWS January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$472,500
$499,998
5.8%
$225
$231
2.5%
37
26
-29.7%
$825,000
$810,000
-1.8%
392
401
2.3%
98.0%
99.2%
1.3%
2385 Robindale Way, Castle Rock
PRADERA & TIMBERS January through September Average Price Average Price per Square Foot
2019
2020
% Change
$941,067
$939,519
-0.2%
$268
$270
0.6%
78
57
-26.9%
$1,900,000
$2,500,000
31.6%
88
102
15.9%
96.8%
97.2%
0.4%
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
10.3%
Pradera and Timbers are two gorgeous communities located in Parker near the Pinery Country Club.
RAVENNA January through September Average Price Average Price per Square Foot
The average price per square foot in the
Average Days on Market
neighborhood of Ravenna increased by 10.3%
Highest Price
January through September 2020 compared to
Properties Sold
that of 2019.
% Sold Price to List Price
2019
2020
% Change
$1,690,630
$1,923,170
13.8%
$620
$684
10.3%
185
119
-35.7%
$2,350,000
$3,047,125
29.7%
12
16
33.3%
97.1%
100.2%
3.3%
coloradomicroreports.com
RIDGEGATE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$605,800
$666,763
10.1%
$285
$286
0.3%
35
48
37.1%
$1,225,000
$14,004,000
1043.2%
32
32
0.0%
99.2%
95.8%
-3.4%
10461 Montecito Drive, Lone Tree
ROXBOROUGH PARK
This small town lies between
January through September
Chatfield State Park and
Average Price
Roxborough State Park.
Average Price per Square Foot
Situated at the base of the
Average Days on Market
foothills, Roxborough Park
Highest Price
provides views of natural
Properties Sold
rock formations as well as
% Sold Price to List Price
the Rocky Mountains.
SPIRIT RIDGE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$683,835
$727,926
6.4%
$295
$316
7.4%
44
52
18.2%
$1,200,000
$2,400,000
100.0%
34
43
26.5%
97.4%
98.3%
0.9%
14.3%
2019
2020
% Change
$1,123,663
$1,284,724
14.3%
$316
$313
-1.1%
84
99
17.9%
$1,280,000
$1,875,844
46.6%
The average price in the neighborhood of Spirit
7
6
-14.3%
Ridge increased by 14.3% January through
92.4%
93.6%
1.3%
September 2020 compared to that of 2019.
MICROMARKET REPORT | South Metro livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
STERLING RANCH
27.1%
January through September Average Price Average Price per Square Foot Average Days on Market
The number of properties sold in the neighborhood
Highest Price
of Sterling Ranch increased by 27.1% January through September 2020 compared to that of 2019.
Properties Sold % Sold Price to List Price
2019
2020
% Change
$614,355
$635,239
3.4%
$237
$246
3.9%
77
84
9.1%
$860,000
$1,015,000
18.0%
70
89
27.1%
95.1%
97.3%
2.3%
THE VILLAGE AT CASTLE PINES January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,296,153
$1,251,611
-3.4%
$390
$372
-4.7%
73
72
-1.4%
$2,675,000
$3,266,716
22.1%
96
109
13.5%
96.2%
94.5%
-1.7%
397 Orofino Drive, Castle Rock
26.7%
The average days on market in the neighborhood
of Westridge decreased by 26.7% January through September 2020 compared to that of 2019.
WESTRIDGE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$472,063
$492,473
4.3%
$263
$279
5.8%
15
11
-26.7%
$695,000
$780,000
12.2%
111
124
11.7%
99.1%
100.4%
1.3%
coloradomicroreports.com
WHY COLORADO? NATIONAL PARKS: 4
MOUNTAIN RANGES: 7
SKI AREAS & RESORTS: 28
AVERAGE DAYS OF SUNSHINE ANNUALLY: 300
CRAFT BREWERIES: 350+
MICROMARKET REPORT | South Metro livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
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, 2020 through September 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.