MICROMARKET REPORT
SOUTH METRO | YEAR END 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: 228 Emerald Drive, Castle Rock
coloradomicroreports.com
SOUTH METRO MARKET UPDATE
The original boundaries of Douglas County stretched all the way from the edge of the Rockies to the state of Kansas, but today’s county lines are more manageably confined to the family-friendly communities south of Denver Sterling Ranch, Highlands Ranch, Lone Tree, Castle Pines, and Castle Rock. These are just a few of the 27 neighborhoods that comprise the South Metro real estate area, which offers a variety of newly constructed homes sporting mountain views and plenty of nearby dining, recreation, and shopping. This region is also attractive to a variety of businesses. Combined with great weather and excellent schools, it’s no doubt that Douglas County calls to homebuyers seeking a relaxed lifestyle that isn’t too far from the office. Recognizing the lifestyle changes that many people prioritized in 2020, it’s not surprising that the South Metro real estate market showed strength last year. The open spaces and easy access to recreation were clearly a beacon for the many families seeking a high quality of life, resulting in a 13.2% rise in the number of sold listings and a phenomenal 21.3% increase in the total dollar volume sold in 2020, landing at $5.3 billion. The Micro Market Report produced by LIV Sotheby’s International Realty analyzes the real estate market for the year 2020 as compared to 2019. The majority of neighborhoods in Douglas County saw an increase in average home prices, with the highest gain occurring in Roxborough Park. There, prices rose 21.4%, from $655,104 to $795,584 as compared to 2019. Market activity levels were notable in many areas as well, with Falcon Hills nearly tripling its number of homes sold from five to 13—a 160% spike.
DOUGLAS COUNTY January through December
2019
2020
% Change
New Listings
9,731
9,504
-2.3%
Sold Listings (All Properties)
7,960
9,010
13.2%
$550,560
$590,241
7.2%
38
32
-15.8%
98.5%
99.7%
1.2%
Average Price Single Family Average Days on Market % Sold Price to Original List Price
Similar to other areas in and around Denver, buyers Total Dollar Volume Sold $4,382,453,924 $5,318,074,474 21.3% were quick to purchase the homes they wanted this year in Douglas County, with average days on the market decreasing overall by 15.8%. The Meadows, a master-planned community in Castle Rock, showed an impressive decrease of 45.2% from 2019 to 2020. Likewise, Bell Mountain Ranch, a sprawling equestrian neighborhood offering five- to 12-acre lot sites, dropped from 102 days on the market in 2019 to just 70 days in 2020—a 31.4% decrease. Forest Park, Falcon Hills, and Eastridge also attracted buyers eager to close on their desired properties. As we embark on a new year, one thing seems clear—the South Metro area continues to be an appealing option for those looking for a little breathing space without sacrificing all that the big city and the surrounding mountain region has to offer.
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, 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 - DECEMBER 2020 • 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
2019
2020
% Change
$1,140,486
$1,093,918
-4.1%
$352
$355
1.0%
64
52
-18.8%
$4,595,032
$3,000,000
-34.7%
116
99
-14.7%
97.3%
96.1%
-1.2%
10468 Willowwisp Way, 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
2019
2020
% Change
$924,975
$996,928
7.8%
$346
$361
4.3%
102
70
-31.4%
$1,695,000
$1,755,000
3.5%
20
26
30.0%
96.7%
96.6%
-0.2%
31.4% The average days on market in the neighborhood of Bell Mountain Ranch decreased by 31.4% January through December 2020 compared to that of 2019.
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
2019
2020
% Change
$700,537
$716,498
2.3%
$250
$255
1.9%
41
31
-24.4%
$2,400,000
$2,500,000
4.2%
141
135
-4.3%
96.59%
98.1%
1.6%
6916 Murphy Creek Lane, Castle Pines
coloradomicroreports.com
CASTLE ROCK January through December
2019
2020
% Change
$525,917
$573,473
9.0%
$237
$250
5.7%
39
35
-10.3%
$3,550,000
$5,500,000
54.9%
Properties Sold
2,208
2,510
13.7%
% Sold Price to List Price
97.6%
98.9%
1.3%
Average Price Average Price per Square Foot Average Days on Market Highest Price
1074 Ridge Oaks Drive, Castle Rock
71.0%
The highest price in the area of Chaparral/
Chenango increased by 71.0% January through December 2020 compared to that of 2019.
CHAPARRAL/CHENANGO January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,076,438
$1,147,273
6.6%
$255
$285
11.8%
63
112
77.8%
$1,550,000
$2,650,000
71.0%
16
22
37.5%
93.6%
91.7%
-2.1%
CRYSTAL VALLEY January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$484,397
$572,504
18.2%
$208
$219
5.5%
45
42
-6.7%
$1,100,000
$1,040,000
-5.5%
160
90
-43.8%
97.7%
99.1%
1.4%
Newer homes, playful parks and gorgeous trails make Crystal Valley perfect for families of all kinds.
MICROMARKET REPORT | South Metro livsothebysrealty.com
JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM
EASTRIDGE Residents enjoy using
January through December
the Eastridge Recreation
Average Price
Center and nearby Heritage
Average Price per Square Foot
Park, as well as having
Average Days on Market
close access to downtown
Highest Price
Highlands Ranch and DTC.
Properties Sold % Sold Price to List Price
FALCON HILLS January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$501,594
$541,366
7.9%
$252
$268
6.2%
16
11
-31.3%
$788,000
$895,000
13.6%
143
137
-4.2%
99.1%
100.5%
1.4%
160%
2019
2020
% Change
$1,225,000
$1,238,808
1.1%
$262
$312
19.0%
76
49
-35.5%
$1,225,000
$1,605,000
31.0%
The number of properties sold in Falcon Hills
5
13
160.0%
increased by 160.0% January through December
93.5%
95.0%
1.6%
2020 compared to that of 2019.
FIRELIGHT This community features
January through December
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
$562,449
$614,926
9.3%
$241
$250
4.1%
26
19
-26.9%
$1,085,000
$975,000
-10.1%
111
116
4.5%
98.4%
98.9%
0.4%
coloradomicroreports.com
FOREST PARK January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$858,165
$927,200
8.0%
$312
$335
7.1%
57
34
-40.4%
$1,052,000
$1,365,000
29.8%
15
10
-33.3%
95.1%
100.4%
5.5%
1078 Country Club Estates Drive, Castle Rock
19.5%
HIGHLANDS RANCH GOLF CLUB January through December 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
December 2020 compared to that of 2019.
% Sold Price to List Price
2019
2020
% Change
$726,987
$786,910
8.2%
$261
$266
1.7%
29
44
51.7%
$1,075,000
$1,285,000
19.5%
23
20
-13.0%
98.7%
97.5%
-1.2%
HERITAGE ESTATES January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
Heritage Estates was built
$1,938,571
$1,563,465
-19.3%
around the fairways of the
$377
$340
-9.9%
Lone Tree Golf Course and is
42
158
276.2%
located near downtown Lone
$2,610,000
$1,860,000
-28.7%
Tree and Bluffs Regional
7
5
-28.6%
Park, a popular hiking and
93.2%
89.1%
-4.4%
biking spot for residents.
MICROMARKET REPORT | South Metro livsothebysrealty.com
JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM
HERITAGE HILLS January through December
Heritage Hills is a gated,
Average Price
luxury community in
Average Price per Square Foot
Lone Tree offering a combination of new builds,
Average Days on Market
newer homes and homes
Highest Price
built in the 2000s.
Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,196,963
$1,189,849
-0.6%
$339
$342
1.1%
42
45
7.1%
$2,000,000
$1,989,428
-0.5%
48
48
0.0%
96.3%
96.3%
0.0%
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
2019
2020
% Change
$578,141
$604,559
4.6%
$263
$274
4.3%
23
18
-21.7%
$4,595,032
$3,000,000
-34.7%
1528
1676
9.7%
98.5%
99.4%
0.9%
9658 Red Oakes Drive, Highlands Ranch
12.0%
The average price per square foot in Inspiration
increased by 12.0% January through December 2020 compared to that of 2019.
INSPIRATION January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$611,372
$592,852
-3.0%
$234
$262
12.0%
105
95
-9.5%
$904,000
$799,000
-11.6%
112
112
0.0%
96.7%
98.1%
1.4%
coloradomicroreports.com
KEENE RANCH January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,137,658
$1,302,971
14.5%
$345
$389
12.5%
58
45
-22.4%
$1,500,000
$2,550,000
70.0%
13
14
7.7%
95.1%
95.1%
0.0%
14.5% The average price in Keene Ranch increased by 14.5% January through December 2020 compared to that of 2019.
LARKSPUR
The mountainous
January through December
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
$707,605
$767,059
8.4%
$277
$299
7.8%
63
46
-27.0%
$3,440,000
$4,115,000
19.6%
93
104
11.8%
96.3%
98.6%
2.4%
LONE TREE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$933,380
$918,150
-1.6%
$298
$297
-0.3%
43
39
-9.3%
$2,610,000
$1,989,428
-23.8%
159
185
16.4%
96.2%
97.0%
0.8%
8481 Colonial Drive, Lone Tree
MICROMARKET REPORT | South Metro livsothebysrealty.com
JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM
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
2019
2020
% Change
$469,249
$503,551
7.3%
$225
$234
3.8%
42
23
-45.2%
$825,000
$825,000
0.0%
521
514
-1.3%
98.0%
99.4%
1.4%
4347 Timber Hollow Loop, Castle Rock
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
2019
2020
% Change
$919,697
$958,472
4.2%
$262
$277
5.6%
82
55
-32.9%
$1,900,000
$2,500,000
31.6%
106
138
30.2%
96.3%
97.1%
0.8%
Pradera and Timbers are two gorgeous communities located in Parker near the Pinery Country Club.
RAVENNA January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,833,460
$1,922,468
4.9%
$625
$686
9.6%
159
110
-30.8%
$3,282,460
$3,047,125
-7.2%
16
23
43.8%
97.8%
99.5%
1.7%
11153 Beatrice Court, Littleton
coloradomicroreports.com
RIDGEGATE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
11.3%
2019
2020
% Change
$625,814
$696,686
11.3%
$283
$296
4.8%
41
45
9.8%
$1,225,000
$1,400,400
14.3%
The average price in Ridgegate increased
40
44
10.0%
by 11.3% January through December 2020
97.6%
96.7%
-0.9%
compared to that of 2019.
ROXBOROUGH PARK January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$655,104
$795,584
21.4%
$288
$326
13.3%
49
50
2.0%
$1,200,000
$2,400,000
100.0%
42
60
42.9%
96.8%
97.6%
0.9%
6183 Buffalo Run, Littleton
SPIRIT RIDGE January through December 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
$1,123,663
$1,233,543
9.8%
$316
$324
2.3%
84
81
-3.6%
$1,280,000
$1,875,844
46.6%
The highest price in Spirit Ridge increased
7
8
14.3%
by 46.6% January through December 2020
92.4%
95.9%
3.7%
compared to that of 2019.
MICROMARKET REPORT | South Metro livsothebysrealty.com
JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM
STERLING RANCH Sterling Ranch is
January through December
positioned between two
Average Price
state parks, three regional
Average Price per Square Foot
parks and a national
Average Days on Market
forest, providing residents
Highest Price
with plenty of outdoor
Properties Sold
opportunities.
% Sold Price to List Price
2019
2020
% Change
$617,554
$642,144
4.0%
$236
$249
5.6%
69
80
15.9%
$908,328
$1,015,000
11.7%
112
120
7.1%
95.1%
97.7%
2.7%
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
2019
2020
% Change
$1,252,575
$1,333,543
6.5%
$377
$382
1.2%
74
85
14.9%
$2,675,000
$5,500,000
105.6%
122
147
20.5%
95.4%
94.4%
-1.0%
38 Castle Pines Drive N, Castle Rock
10.4%
The number of properties sold in Westridge
increased by 10.4% January through December 2020 compared to that of 2019.
WESTRIDGE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$478,100
$506,044
5.8%
$263
$279
6.1%
13
10
-23.1%
$864,000
$780,000
-9.7%
154
170
10.4%
98.8%
100.5%
1.6%
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 - DECEMBER 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 December 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.