South Metro Year End 2019 Micro Market Report

MICROMARKET REPORT

SOUTH METRO | YEAR END 2019

SOUTH METRO NEIGHBORHOODS 1. Inverness 2.

Highlands Ranch

3. Backcountry 4.

Firelight/Highlands Ranch

5.

Lone Tree

6.

Broadmoor

7.

Castle Pines

8.

The Village at Castle Pines

9.

Pradera & Timbers

10. Sedalia 11.

1 2

5

3

4

7

8 9 10

The Meadows 11

12.

Colorado Springs

13.

Castle Rock

14.

Keene Ranch

15.

Bell Mountain Ranch

13

14 15

16. Larkspur 6

16

12

Pictured on cover: 617 Cliffgate Lane, Castle Rock

coloradomicroreports.com

SOUTH METRO MARKET UPDATE Just down the road from Denver are the thriving neighborhoods of South Metro found in Douglas County. This area is quickly becoming one of the most popular places for shopping, dining, entertainment, and business. Communities within South Metro like 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.

LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance during 2019 compared to that of 2018. Douglas County reported positive activity in its real estate market throughout 2019 including a 4.8% increase in new listings and a 5.7% rise in total dollar volume sold.

Additionally, 2.9% more homes in Douglas County sold in 2019 than 2018.

DOUGLAS COUNTY

January through December

Of the 18 neighborhoods that make up South Metro, many saw increases in home prices.

Lone Tree had the highest increase in home prices over the last year. Homes in this area rose in price by 28.2% since 2018, making the average price for a home $873,140.

2018

2019

% Change

New Listings

51,463

53,919

4.8%

Sold Listings (All Properties)

39,902

41,051

2.9%

Average Price Single Family

$515,455

$524,808

1.8%

Average Price Attached Dwellings

$347,707

$359,844

3.5%

23

30

30.4%

99.4%

97.1%

-2.3%

Average Days on Market % Sold Price to Original List Price

The number of properties sold grew in Total Dollar Volume Sold $18,586,566,313 $19,649,402,461 5.7% several communities as well. By far the most notable increase was seen in Backcountry. In a comparison from 2018 to 2019, there were 56.8% more listings sold in Backcountry in 2019. The Meadows also increased in sold listings during 2019. This community near Castle Rock has 24 miles of trails and contains 1,100 acres of parks as well as land for public use, had a 21.2% increase in properties sold.

Homes in South Metro are going more quickly in some areas than others. The average days on market for listings in Bell Mountain Ranch dropped by 35.4% making the average days on market for houses in this area 102 days during 2019. The Village at Castle Pines also appears to be a high demand area as the average days on market decreased in this community as well. The average time a home spent on the market in 2019 was 93 days, a 34% reduction from when the average was 141 days in 2018.

Growing popularity and the addition of more entertainment options are attracting more people to this area and fueling a very active real estate market in the South Metro.

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.

MICROMARKET REPORT | South Metro livsothebysrealty.com

JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM

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

2018

2019

% Change

$1,238,368

$1,140,486

-7.9%

$336

$352

4.5%

54

64

18.5%

$3,250,000

$4,595,032

41.4%

74

116

56.8%

98.5%

97.3%

-1.3%

10646 Sundial Rim Road, Highlands Ranch

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

6.0%

2018

2019

% Change

$872,729

$924,975

6.0%

$313

$346

10.7%

158

102

-35.4%

The average price for the neighborhood of

$1,400,000

$1,695,000

21.1%

Bell Mountain Ranch increased by 6.0%

24

20

-16.7%

January through December 2019

95.0%

96.7%

1.8%

compared to that of 2018.

BROADMOOR/CO SPRINGS January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$989,836

$1,091,220

10.2%

$193

$224

16.2%

126

95

-24.6%

$1,720,000

$2,900,000

68.6%

24

12

-50.0%

95.9%

92.9%

-3.1%

22 Crossland Road, Colorado Springs

coloradomicroreports.com

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

2018

2019

% Change

$743,306

$729,616

-1.8%

$250

$258

3.2%

59

53

-10.2%

$2,700,000

$2,400,000

-11.1%

214

228

6.5%

97.0%

96.50%

-0.5%

545 Leicester Lane, Castle Pines

6.5%

The average price for the neighborhood of The Village at Castle Pines increased by 6.5% January through December 2019

compared to that of 2018.

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

2018

2019

% Change

$1,174,364

$1,250,943

6.5%

$348

$374

7.8%

141

93

-34.0%

$4,300,000

$2,675,000

-37.8%

142

121

-14.8%

92.0%

95.4%

3.7%

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

2018

2019

% Change

$453,679

$443,046

-2.3%

$233

$231

-0.7%

44

36

-18.2%

$2,300,000

$1,785,000

-22.4%

393

389

-1.0%

98.0%

97.9%

-0.1%

1338 Ash Hollow Place, Castle Rock

MICROMARKET REPORT | South Metro livsothebysrealty.com

JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM

COLORADO SPRINGS January through December

2018

2019

% Change

$347,289

$366,371

5.5%

$140

$147

0.0%

31

29

-6.5%

$4,376,250

$2,900,000

-33.7%

Properties Sold

14,829

14,752

-0.5%

% Sold Price to List Price

99.8%

99.4%

-0.4%

Average Price Average Price per Square Foot Average Days on Market Highest Price

3244 MuirďŹ eld Drive, Colorado Springs

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

3.8%

2018

2019

% Change

$527,175

$526,347

-0.2%

$234

$243

3.8%

20

25

25.0%

The average price per square foot for the

$750,000

$745,000

-0.7%

neighborhood of Firelight/Highlands Ranch

84

93

10.7%

increased by 3.8% January through December

99.3%

98.6%

-0.6%

2019 compared to that of 2018.

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

2018

2019

% Change

$510,703

$516,972

1.2%

$250

$256

2.4%

15

22

46.7%

$2,930,758

$4,595,032

56.8%

594

598

0.7%

99.3%

98.5%

-0.8%

10275 Dowling Court, Highlands Ranch

coloradomicroreports.com

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

2018

2019

% Change

$479,602

$493,536

2.9%

$315

$337

6.9%

40

49

22.5%

$1,018,000

$1,300,000

27.7%

43

41

-4.7%

97.6%

96.8%

-0.8%

10519 Spring Green Drive, Englewood

KEENE RANCH

Keene Ranch is nestled at

January through December

the base of Dawson Butte

Average Price

with the vast Front Range of

Average Price per Square Foot

the Rocky Mountains in the

Average Days on Market

background. Residents can

Highest Price

easily commute to Denver

Properties Sold

or Colorado Springs.

% Sold Price to List Price

2018

2019

% Change

$1,181,365

$1,137,658

-3.7%

$376

$345

-8.2%

129

89

-31.0%

$2,650,000

$1,500,000

-43.4%

13

13

0.0%

90.0%

95.1%

5.7%

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

2018

2019

% Change

$719,718

$707,605

-1.7%

$280

$277

-0.9%

75

77

2.7%

$6,750,000

$3,440,000

-49.0%

119

93

-21.8%

96.0%

96.3%

0.3%

8670 S Perry Park Road, Larkspur

MICROMARKET REPORT | South Metro livsothebysrealty.com

JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM

LONE TREE Living in Lone Tree offers

January through December

residents an urban/

Average Price

suburban mix providing

Average Price per Square Foot

many restaurants, coffee

Average Days on Market

shops, and parks.

Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$681,251

$873,140

28.2%

$244

$266

9.2%

31

31

0.0%

$1,615,000

$2,610,000

61.6%

50

42

-16.0%

97.5%

96.9%

-0.6%

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

2018

2019

% Change

$477,098

$469,249

-1.6%

$216

$225

4.4%

29

42

44.8%

$824,900

$825,000

0.0%

430

521

21.2%

98.6%

98.0%

-0.6%

2201 Trailblazer Way, Castle Rock

Pradera, situated beautifully in the rolling countryside between Parker and Castle Rock, offers residences sweeping views and year-round recreational activities.

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

2018

2019

% Change

$821,479

$919,697

12.0%

$245

$262

6.9%

44

82

86.4%

$1,725,000

$1,900,000

10.1%

104

106

1.9%

98.0%

96.3%

-1.7%

coloradomicroreports.com

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

2018

2019

% Change

$691,201

$818,564

18.4%

$331

$397

19.9%

61

102

67.2%

$3,026,700

$2,210,000

-27.0%

58

21

-63.8%

95.0%

94.6%

-0.4%

18.4%

The average price for the neighborhood of

Sedalia increased by 18.4% January through December 2019 compared to that of 2018.

MICROMARKET REPORT | South Metro livsothebysrealty.com

JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM

WHY COLORADO? NATIONAL PARKS: 4

MOUNTAIN RANGES: 7

SKI AREAS & RESORTS: 28

AVERAGE DAYS OF SUNSHINE ANNUALLY: 300

CRAFT BREWERIES: 350+

IMAGINE. DESIGN. SHOP.

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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.