South Metro Mid-Year 2017 Micro Market Report

Page 1

NEIGHBORHOOD MICROMARKET REPORT |

January through June

2016

2017

% Change

Average Price South Metro • Mid-Year 2017 Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Boundaries:

NEIGHBORHOOD January through June

2016

2017

% Change

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

NEIGHBORHOOD January through June

2016

2017

% Change

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

MICROMARKET REPORT | Denver Metro 303.893.3200

page 1

QUARTER 1 2017 • COLORADOMICROREPORTS.COM


SOUTH METRO NEIGHBORHOODS

1

1.

Highlands Ranch

2.

Lone Tree

3.

Castle Pines

4.

Castle Pines Village

2

3

5. Sedalia

4

12

5

6.

The Meadows

7.

Keene Ranch

8. Larkspur

6

11

9.

Bell Mountain Ranch

10

10. Castle Rock 7 9

11.

Diamond Ridge

12.

Pradera & Timbers

8

Pictured on cover: 2198 Avenida Del Sol, Castle Rock

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SOUTH METRO AREA Market Introduction The South Denver region is comprised of four influential counties and 18 cities with over 650 business investors. Highlands Ranch, Castle Rock, Castle Pines Village, Parker, Sedalia are some of the most popular areas for families to live. Close proximity to shopping, dining and recreational activities make South Metro a popular area for residents seeking access to amenities, without sacrificing easy access to the outdoors. The South Denver metro region is host to a variety of recreational activities including a number of fine golf courses found throughout Castle Pines. From January through June, 2017, the average price per square foot in Castle Pines increased by 5% compared to that of 2016. In Castle Rock, which is famed for being the home to premium, outdoor outlet shopping, the average price per square foot increased 1.7% in January through June 2017, compared to that of 2016. Highlights from the South Metro area include Lone Tree’s average price rising to $887,671, up 21.1%, from 2016. Keene Ranch’s average price rose to $1,029,474, up 23.4%, from 2016, and Pradera & Timber’s average price rose to $766,848, up 9.8%, from 2016.

Mid-Year 2017 Highlights: • Castle Rock’s average price is $408,772

1.7%

• Diamond Ridge’s average price is $560,568

6.7%

• Lone Tree’s average price is $887,671

21.1%

• Pradera & Timber’s average price is $766,848

9.8%

A continued strong demand in South Metro is projected, as the result of the many positive economic variables that living in the Colorado Foothills affords.

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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.

MICROMARKET REPORT | South Metro MID-YEAR 2017 • COLORADOMICROREPORTS.COM


BELL MOUNTAIN RANCH January through June Average Price

2016

$782,656

5.8%

$285

$299

4.9%

87

119

36.8%

$897,500

$876,400

-2.4%

8

9

12.5%

96.3%

96.6%

0.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$739,438

Average Price per Square Foot

Highest Price

2017

1253 Rosewind Circle, Bell Mountain Ranch

CASTLE PINES January through June Average Price

2016

$606,224

0.1%

$211

$222

5.0%

67

57

-14.9%

$1,465,000

$1,400,000

-4.4%

54

61

13.0%

95.9%

96.6%

0.7%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$605,833

Average Price per Square Foot

Highest Price

2017

5.0%

The average price per square foot in Castle Pines increased by 5.0% January through June 2017 compared to that of 2016.

CASTLE PINES VILLAGE January through June

2016

2017

Average Price

$1,119,915

$1,121,130

0.1%

$311

$319

2.5%

148

155

4.7%

$2,875,000

$3,450,000

20.0%

45

67

48.9%

93.2%

93.3%

0.1%

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

% Change

77 Comstock Place, Castle Pines Village

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CASTLE ROCK January through June

Castle Rock is home to Colorado’s largest open-air shopping outlets in the state. The outlets at Castle Rock are a shopping paradise for the savviest shoppers looking to snag a deal.

2016

Average Price

$408,772

1.7%

$195

$216

11.1%

37

32

-13.5%

$1,895,000

$1,435,000

-24.3%

189

193

2.1%

99.2%

99.4%

0.2%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$401,821

Average Price per Square Foot

Highest Price

2017

DIAMOND RIDGE January through June

2016

Average Price

$560,568

6.7%

$200

$216

8.4%

58

48

-17.2%

$1,400,000

$1,079,000

-22.9%

53

49

-7.5%

97.2%

98.2%

1.1%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$525,242

Average Price per Square Foot

Highest Price

2017

852 Diamond Ridge Circle, Diamond Ridge

6.2%

January through June 2017, the average price per square foot in Highlands Ranch increased by 6.2% compared to that of 2016.

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

2016

2017

% Change

$465,921

$471,643

1.2%

$221

$234

6.2%

18

18

0.0%

$2,604,938

$2,351,333

-9.7%

312

327

4.8%

99.8%

99.9%

0.1%

MICROMARKET REPORT | South Metro livsothebysrealty.com

MID-YEAR 2017 • COLORADOMICROREPORTS.COM


KEENE RANCH January through June

2016

2017

Average Price

$834,000

$1,029,474

23.4%

$219

$316

44.4%

228

106

-53.5%

$890,000

$1,247,400

40.2%

3

6

100.0%

94.5%

93.8%

-0.8%

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

% Change

Keene Ranch is a custom estate community located conveniently within 30 minutes of metro Denver and Colorado Springs.

LARKSPUR January through June Average Price

2016

$639,870

14.5%

$225

$262

16.5%

108

94

-13.0%

$2,387,500

$2,719,200

13.9%

44

56

27.3%

95.1%

98.1%

3.2%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$558,603

Average Price per Square Foot

Highest Price

2017

4888 Crow Drive, Larkspur

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

2016

2017

% Change

$732,866

$887,671

21.1%

$234

$256

9.5%

51

59

15.7%

$1,950,000

$2,600,000

33.3%

27

17

-37.0%

97.3%

95.9%

-1.4%

9.5%

The average price per square foot in Lone Tree increased by 9.5% January through June 2017 compared to that of 2016.

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THE MEADOWS January through June

2016

Average Price

$445,060

13.9%

$172

$201

16.8%

27

23

-14.8%

$680,000

$801,262

17.8%

245

206

-15.9%

99.0%

99.0%

0.1%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$390,721

Average Price per Square Foot

Highest Price

2017

2921 Bixby Court, The Meadows

9.8%

January through June 2017, the average price in the neighborhood of Pradera & Timbers increased by 9.8% compared to that of 2016.

PRADERA & TIMBERS January through June Average Price

2016

$766,848

9.8%

$212

$235

11.0%

80

90

12.5%

$1,250,000

$1,250,000

0.0%

44

65

47.7%

95.5%

95.4%

-0.1%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$698,593

Average Price per Square Foot

Highest Price

2017

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

2016

2017

% Change

$622,346

$694,164

11.5%

$282

$260

-7.8%

146

127

-13.0%

$1,225,000

$2,800,000

128.6%

13

14

7.7%

89.0%

93.0%

4.5%

5088 South Perry Park Road, Sedalia

MICROMARKET REPORT | South Metro livsothebysrealty.com

MID-YEAR 2017 • COLORADOMICROREPORTS.COM


The life you love.

coloradomicroreports.com | livsothebysrealty.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.


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