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.