MICROMARKET REPORT |
South Metro • Mid-Year 2018
SOUTH METRO NEIGHBORHOODS 1. Inverness 2.
3. Backcountry
1 2
5
3
Highlands Ranch
6
4
4.
Firelight/Highlands Ranch
5.
Lone Tree
6. Parker 7
8
9
7.
Castle Pines
8.
Castle Pines Village
9.
Pradera & Timbers
10. Sedalia
10
11
12
13
11.
The Meadows
12.
Diamond Ridge
13.
Castle Rock
14.
Keene Ranch
15. Bell Mountain Ranch 14 15
16. Larkspur 17. Broadmoor
17
16
18
18.
Colorado Springs
Pictured on cover: 617 Cliffgate Lane, Castle Rock
coloradomicroreports.com
SOUTH METRO market update The South Denver metro region is comprised of influential areas, including; Highlands Ranch, Parker, Lone Tree, Castle Rock, and Colorado Springs, covering major parts of the southern I-25 corridor. Denver South houses the country’s second busiest general aviation airport and seven of Colorado’s ten Fortune 500 Companies. South Metro Denver draws residents and families to the area that seek proximity to amenities and employment opportunities, without sacrificing access to the outdoor recreation. The South metro corridor is home to the spectacular scenery, parks, national forests, and open space Colorado is known for, and despite the suburban areas’ fast growth over the last 15 years, the region has permanently preserved over 50,000 acres of natural open space, guaranteeing future generations the same beautiful views and abundance of wildlife only Colorado can offer. Residential offerings within South Denver metro include expansive condominium complexes featuring mountain vistas, and beautiful, single family homes overlooking vast open spaces. Home to many fine golf courses, residences within the South Denver metro region see consistent price appreciation, due to residents’ continued desire for golf lifestyle-inspired home purchases. From January through June 2018, the average price in Highland’s Ranch increased by 9.7%, year-over-year. In Castle Rock, home to premium, outdoor outlet shopping, the average price increased 4.5% January through June 2018, compared to that of 2017. Colorado Springs has seen significant growth, with average price up 11.3%, year-over-year.
Mid-Year 2018 Highlights: • Highland Ranch’s average price is $517,616
9.7%
• Larkspur’s average price is $674,559
8.0%
• Lone Tree’s average price is $772,111
6.5%
• The Meadow’s average price is $471,392
5.9%
With the variety of quality living options the South Denver metro area affords, residents will continue to be drawn to the region, and real estate values will likely continue to rise.
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.
MICROMARKET REPORT | South Metro MID -YEAR 2018 • COLORADOMICROREPORTS.COM
BACKCOUNTRY January through June Average Price
2017
$1,191,437
13.4%
$295
$334
13.0%
68
57
-16.2%
$2,351,333
$2,767,865
17.7%
49
41
-16.3%
97.0%
99.2%
2.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$1,050,658
Average Price per Square Foot
Highest Price
2018
BELL MOUNTAIN RANCH January through June Average Price
2017
$898,286
14.8%
$299
$321
7.4%
119
158
32.8%
$876,400
$1,200,000
36.9%
9
14
55.6%
96.6%
96.7%
0.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$782,656
Average Price per Square Foot
Highest Price
2018
7.4%
January through June 2018, the average price per square foot in the neighborhood of Bell Mountain Ranch increased by 7.4% compared to that of 2017.
BROADMOOR/CO SPRINGS January through June
2017
Average Price
$560,490
$618,588
10.4%
$144
$154
6.9%
95
57
-40.0%
$1,800,000
$1,750,000
-2.8%
54
61
13.0%
94.0%
98.0%
4.3%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
coloradomicroreports.com
CASTLE PINES January through June Average Price
Castle Pines, located just 20 miles south of Denver, offers its residents the perfect balance of open space and urban living.
2017
$718,761
9.7%
$231
$248
7.3%
53
51
-3.8%
$1,785,000
$1,800,000
0.8%
125
108
-13.6%
96.7%
97.0%
0.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$655,376
Average Price per Square Foot
Highest Price
2018
CASTLE PINES VILLAGE January through June
2017
2018
Average Price
$1,088,521
$1,174,156
7.9%
$318
$333
4.7%
155
135
-12.9%
$3,450,000
$4,300,000
24.6%
72
81
12.5%
93.3%
94.5%
1.3%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
4.5%
January through June 2018, the average price in Castle Rock increased by 4.5% compared to that of 2017.
% Change
CASTLE ROCK January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$408,772
$427,160
4.5%
$216
$233
7.6%
32
35
9.4%
$1,435,000
$1,238,126
-13.7%
193
180
-6.7%
99.4%
99.2%
-0.1%
MICROMARKET REPORT | South Metro livsothebysrealty.com
MID -YEAR 2018 • COLORADOMICROREPORTS.COM
COLORADO SPRINGS January through June Average Price
2017
2018
% Change
$285,239
$333,143
16.8%
$129.45
$136
5.0%
30
23
-23.3%
$2,185,000
$2,200,000
0.7%
Properties Sold
4035
3855
-4.5%
% Sold Price to List Price
100%
100.0%
0.0%
Average Price per Square Foot Average Days on Market Highest Price
16.8%
The average price in Colorado Springs increased by 16.8% January through June 2018 compared to that of 2017.
DIAMOND RIDGE January through June
2017
Average Price
$828,300
$1,054,000
27.2%
$264
$252
-4.4%
88
146
65.9%
$1,050,000
$1,275,000
21.4%
5
3
-40.0%
93.1%
94.1%
1.0%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
FIRELIGHT/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
2017
2018
% Change
$545,917
$571,793
4.7%
$208
$234
12.6%
29
15
-48.3%
$925,000
$920,000
-0.5%
26
28
7.7%
98.6%
98.9%
0.3%
12.6%
The average price per square foot in Firelight increased by 12.6% January through June 2018 compared to that of 2017.
coloradomicroreports.com
HIGHLANDS RANCH January through June Average Price
2017
$517,616
9.7%
$234
$250
6.7%
18
12
-33.3%
$2,351,333
$2,767,865
17.7%
327
276
-15.6%
99.9%
100.4%
0.6%
Average Days on Market
Properties Sold % Sold Price to List Price
2.4%
The average price per square foot in Inverness increased by 2.4% January through June 2018 compared to that of 2017.
% Change
$471,643
Average Price per Square Foot
Highest Price
2018
INVERNESS January through June Average Price
2017
$448,808
-0.6%
$303
$311
2.4%
48
36
-25.0%
$950,000
$820,000
-13.7%
25
26
4.0%
96.6%
98.2%
1.6%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$451,398
Average Price per Square Foot
Highest Price
2018
KEENE RANCH January through June
2017
Average Price
$1,029,474
$1,177,143
14.3%
$316
$417
31.8%
106
114
7.5%
$1,247,400
$2,375,000
90.4%
6
7
16.7%
93.8%
87.8%
-6.3%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
MICROMARKET REPORT | South Metro livsothebysrealty.com
MID -YEAR 2018 • COLORADOMICROREPORTS.COM
LARKSPUR January through June
2017
Average Price
% Change
$624,859
$674,559
8.0%
$267
$274
2.8%
93
74
-20.4%
$2,719,200
$2,440,000
-10.3%
73
64
-12.3%
97.2%
97.9%
0.7%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
8.0%
The average price in Larkspur increased by 8.0% January through June 2018 compared to that of 2017.
LONE TREE January through June
2017
Average Price
% Change
$724,760
$772,111
6.5%
$272
$278
2.2%
42
45
7.1%
$2,600,000
$2,400,000
-7.7%
114
132
15.8%
97.7%
97.7%
0.1%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
THE MEADOWS January through June
2017
Average Price
$445,060
$471,392
5.9%
$201
$217
8.2%
23
22
-4.3%
$801,262
$772,000
-3.7%
206
226
9.7%
99.0%
99.4%
0.3%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
8.2%
The average price per square foot in The Meadows increased by 8.2% January through June 2018 compared to that of 2017.
coloradomicroreports.com
PARKER January through June
2017
Average Price
$512,305
6.4%
$221
$237
7.1%
31
28
-9.7%
$2,575,000
$2,395,000
-7.0%
1,238
1,170
-5.5%
99.0%
99.5%
0.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$481,603
Average Price per Square Foot
Highest Price
2018
PRADERA & TIMBERS January through June Average Price
Pradera, situated beautifully in the rolling countryside between Parker and Castle Rock, offers residences sweeping views and year-round recreational activities.
2017
$801,525
4.5%
$235
$242
3.0%
90
47
-47.8%
$1,250,000
$1,725,000
38.0%
65
61
-6.2%
95.4%
98.7%
3.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$766,848
Average Price per Square Foot
Highest Price
2018
SEDALIA January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$708,884
$762,917
7.6%
$269
$338
25.6%
108
37
-65.7%
$2,800,000
$3,026,700
8.1%
34
23
-32.4%
97.4%
97.6%
0.1%
MICROMARKET REPORT | South Metro livsothebysrealty.com
MID -YEAR 2018 • COLORADOMICROREPORTS.COM
IMAGINE.
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DESIGN.
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SHOP.
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WHY COLORADO?
NATIONAL PARKS: 4
MOUNTAIN RANGES: 7
AVERAGE DAYS OF SUNSHINE ANNUALLY: 300
SKI AREAS & RESORTS: 28
CRAFT BREWERIES: 350+
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.