South Metro Micro Market Report | Quarter 1, 2022

QUARTER 1 2022

Micro Market Report SOUTH METRO

6204 Hay Meadow Way

10541 Leonardo Place

South Metro MARKET UPDATE

From spacious ranch properties to exquisitely planned communities and modern condominium living, Denver’s South Metro area offers a diverse selection of residences that cater to all kinds of lifestyles. Located near beautiful open spaces and an abundance of trails in addition to business hubs such as the Denver Tech Center, the South Metro community boasts a oneof-a-kind Colorado living experience that provides its residents with the best of both worlds.

LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance through Q1 of 2022 compared to the same time frame in 2021. Although the number of new listings on the market decreased slightly by 4.6%, the number of homes sold so far this year has remained steady. Through March, the number of homes sold in Douglas County, which encompasses the South Metro area, experienced a slight decrease of 1.8% totaling 1,558 listings sold. Looking at all South Metro neighborhoods, there was an average appreciation of home prices of 18.2% for all property types during Q1. This increase resulted in a 16.2% increase in total dollar volume sold.

Looking at individual neighborhoods within the South Metro community, there were several areas in which the number of homes sold increased during Q1 of this year compared to the same period in 2021. Castle Rock had the most sales, reaching a total of 421 homes sold through March – 17.3% more sales than the previous year. One of the most significant increases in listing sales was seen in Larkspur, where there was a 66.7% increase in the number of homes sold, growing from 15 sales last year to 25 sales this year.

to the same time frame in 2021. For example, The Village at Castle Pines saw a 17.6 % increase in average home prices, which brought the average price to $1,861,380. Highlands Ranch also experienced this trend in appreciating home prices. Listings in this area sold for an average price of $798,194 through Q1 of 2022 – a 15.8% increase from the same period in 2021.

Conveniently located near all the very best activities and amenities that the Front Range has to offer, the South Metro community is a haven for homebuyers and sellers hoping to reach their lifestyle goals in Colorado.

SOUTH METRO January through March

2021

2022

% Change

New Listings

2,047

1,952

-4.6%

Sold Listings (All Properties)

1,587

1,558

-1.8%

Average Price (All Properties)

$669,715

$791,914

18.2%

Average Price (Single Family)

$728,873

$846,218

16.1%

21

17

-19.0%

101.9%

102.9%

1.0%

$1,062,175,870

$1,233,801,628

16.2%

Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold

Counties: Douglas

South Metro’s popularity among homebuyers has created an upward trend in home values within several neighborhoods through March of this year compared 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.

coloradomicroreports.com

SOUTH METRO NEIGHBORHOODS

1. Backcountry

9. Firelight

16. Keene Ranch

24. Spirit Ridge

2. Bell Mountain Ranch

10. Forest Park

17. Larkspur

25. Sterling Ranch

3. Castle Pines

11. Highlands Ranch

18. Lone Tree

26. The Village at

4. Castle Rock

Golf Club

19. The Meadows

5. Chaparral/Chenango

12. Heritage Estates

20. Pradera & Timbers

6. Crystal Valley

13. Heritage Hills

21. Ravenna

7. Eastridge

14. Highlands Ranch

22. Ridgegate

8. Falcon Hills

15. Inspiration

23. Roxborough Park

Castle Pines 27. Westridge

15 8 11 13 7 14

12

27

18

1

5

22

9

25 24 21

23 3

10

20

26

19

4

16

17

2

6

MICRO MARKET REPORT | South Metro livsothebysrealty.com

JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM

BACKCOUNTRY BELL MOUNTAIN RANCH CASTLE PINES

47.4% The number of properties sold in Backcountry decreased by 47.4%

January through March Average Price Average Price Per Square Foot Average Days on Market Highest Price

2021

2022

% Change

$1,334,205

$1,596,990

19.7%

$377

$496

31.8%

6

10

66.7%

$2,705,000

$2,360,000

-12.8%

19

10

-47.4%

in the first quarter of 2022 compared to

Properties Sold

that of 2021.

% Sold Price to List Price

101.5%

102.8%

1.2%

January through March

2021

2022

% Change

$1,103,800

$1,468,333

33.0%

$414

$434

4.8%

17

25

47.1%

$1,305,000

$1,675,000

28.4%

5

3

-40.0%

% Sold Price to List Price

97.9%

96.0%

-1.9%

January through March

2021

2022

% Change

$802,075

$1,095,213

36.5%

$290

$388

33.6%

22

17

-22.7%

$1,880,000

$2,299,341

22.3%

64

54

-15.6%

101.0%

105.4%

4.3%

Bell Mountain Ranch is a working horse ranch in Castle Rock that has been around for over 100 years.

This beautiful, high-end neighborhood, located 40 minutes southeast of Denver, features 305 custom home sites ranging from three to 12 acres.

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

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

% Change

$706,162

$791,746

12.1%

$283

$341

20.2%

21

17

-19.0%

$3,725,000

$3,800,000

2.0%

359

421

17.3%

% Sold Price to List Price

102.1%

103.9%

1.7%

January through March

2021

2022

% Change

$1,197,000

$1,441,667

20.4%

$273

$417

52.6%

77

9

-88.3%

$1,765,000

$1,575,000

-10.8%

7

3

-57.1%

% Sold Price to List Price

94.3%

98.8%

4.8%

January through March

2021

2022

% Change

$532,260

$635,338

19.4%

$231

$288

24.5%

16

23

43.8%

$740,000

$1,195,000

61.5%

69

78

13.0%

102.3%

101.3%

-1.0%

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

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

88.3%

The average days on market in Chaparral/ Chenango decreased by 88.3% in the first quarter of 2022 compared to that of 2021.

CRYSTAL VALLEY

2022

CHAPARRAL/CHENANGO

2021

CASTLE ROCK

January through March

FIRELIGHT

FALCON HILLS

EASTRIDGE

January through March

2021

2022

% Change

$586,025

$698,116

19.1%

$296

$388

30.9%

4

13

225.0%

$825,000

$900,836

9.2%

20

15

-25.0%

% Sold Price to List Price

104.7%

105.5%

0.8%

January through March

2021

2022

% Change

$1,102,500

$2,250,000

104.1%

$276

$453

64.5%

51

4

-92.2%

$1,225,000

$2,250,000

83.7%

2

1

-50.0%

% Sold Price to List Price

94.6%

112.5%

18.9%

January through March

2021

2022

% Change

$654,095

$822,981

25.8%

$287

$350

22.1%

8

5

-37.5%

$821,000

$1,300,000

58.3%

21

23

9.5%

104.0%

105.5%

1.5%

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

Falcon Hills is a prestigious, master-planned, gated neighborhood located in Highlands Ranch. In this private neighborhood, residents enjoy the peaceful, quiet atmosphere with views of the Rocky Mountains and the Denver Metro area.

25.8%

The highest price in Firelight increased by 25.8% in the first quarter of 2022 compared to that of 2021.

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

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

% Change

Average Price

-

-

-

Average Price Per Square Foot

-

-

-

Average Days on Market

-

-

-

Highest Price

-

-

-

No Sales

No Sales

-

% Sold Price to List Price

-

-

-

January through March

2021

2022

% Change

$805,000

$1,415,000

75.8%

$297

$440

48.3%

5

4

-20.0%

$860,000

$1,675,000

94.8%

2

3

50.0%

% Sold Price to List Price

100.0%

110.6%

10.6%

January through March

2021

2022

% Change

$1,550,000

-

-

$373

-

-

272

-

-

$1,550,000

-

-

1

No Sales

-

88.6%

-

-

Properties Sold

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

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

75.8%

The average home price in Highlands Ranch Golf Club increased by 75.8%

in the first quarter of 2022 compared to that of 2021.

Heritage Estates was built around the fairways of the Lone Tree Golf Course and is located near downtown Lone Tree and Bluffs Regional Park, a popular hiking and biking spot for residents.

HERITAGE ESTATES

2022

HIGHLANDS RANCH GOLF CLUB

2021

FOREST PARK

January through March

HERITAGE HILLS INSPIRATION

HIGHLANDS RANCH

Heritage Hills is a gated, luxury community in Lone Tree offering a combination of new builds and homes built in the last 20 years.

Residents have access to a variety of parks, pools, tennis courts, and playgrounds within the community.

January through March

2021

2022

% Change

$1,372,600

$1,497,148

9.1%

$387

$443

14.5%

69

2

-97.1%

$1,740,000

$2,055,000

18.1%

10

6

-40.0%

% Sold Price to List Price

99.6%

102.2%

2.6%

January through March

2021

2022

% Change

$689,229

$798,194

15.8%

$309

$382

23.7%

5

8

60.0%

$2,705,000

$2,360,000

-12.8%

272

243

-10.7%

% Sold Price to List Price

104.7%

106.2%

1.4%

January through March

2021

2022

% Change

$640,906

$815,371

27.2%

$273

$316

15.7%

58

28

-51.7%

$890,000

$1,050,000

18.0%

19

24

26.3%

101.3%

98.6%

-2.7%

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

51.7%

The average number of days on market in

Inspiration decreased by 51.7% in the first quarter of 2022 compared to that of 2021.

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

29.5%

2021

2022

% Change

$1,586,250

$1,775,500

11.9%

$410

$532

29.5%

4

26

550.0%

$2,250,000

$2,892,000

28.5%

4

4

0.0%

Keene Ranch increased by 29.5% in the

% Sold Price to List Price

102.9%

94.3%

-8.4%

first quarter of 2022 compared to that

January through March

2021

2022

% Change

$898,436

$1,294,711

44.1%

$380

$410

7.8%

7

33

371.4%

$1,375,000

$4,495,000

226.9%

15

25

66.7%

% Sold Price to List Price

103.6%

100.3%

-3.2%

January through March

2021

2022

% Change

$1,096,025

$1,223,280

11.6%

$334

$406

21.5%

39

7

-82.1%

$1,740,000

$2,055,000

18.1%

40

27

-32.5%

99.5%

103.8%

4.3%

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

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

Lone Tree is a south Denver suburb, tucked just off I-25 in between Littleton and Parker.

Conveniently located along the Light Rail at Lincoln Station (the last stop south), this Front Range town lies within Douglas County.

LONE TREE

Average Price

of 2021.

LARKSPUR

Average Price

The average price per square foot in

KEENE RANCH

January through March

THE MEADOWS PRADERA & TIMBERS RAVENNA

January through March

2021

2022

% Change

$549,554

$689,524

25.5%

$267

$332

24.3%

7

5

-28.6%

$850,000

$1,300,000

52.9%

79

81

2.5%

% Sold Price to List Price

103.1%

105.6%

2.4%

January through March

2021

2022

% Change

$1,015,053

$1,363,058

34.3%

$291

$430

47.9%

34

21

-38.2%

$1,900,000

$2,450,000

28.9%

22

23

4.5%

% Sold Price to List Price

100.5%

102.2%

1.8%

January through March

2021

2022

% Change

$2,121,167

$1,912,500

-9.8%

$623

$854

37.2%

196

90

-54.1%

$3,150,000

$1,925,000

-38.9%

6

2

-66.7%

94.2%

102.1%

8.3%

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

47.9%

The average price per square foot in

Pradera & Timbers increased by 47.9% in the first quarter of 2022 compared to that of 2021.

Ravenna is a charming custom home village in Littleton set among rolling hills and red rock outcroppings on a worldclass golf course in Waterton Canyon.

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

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

% Change

$569,750

$901,367

58.2%

$323

$346

7.0%

4

8

100.0%

$701,000

$1,257,000

79.3%

4

9

125.0%

% Sold Price to List Price

101.5%

102.9%

1.4%

January through March

2021

2022

% Change

$1,023,818

$849,798

-17.0%

$381

$452

18.7%

84

5

-94.0%

$1,581,000

$1,285,000

-18.7%

11

7

-36.4%

% Sold Price to List Price

97.6%

101.3%

3.7%

January through March

2021

2022

% Change

$1,391,667

-

-

$325

-

-

352

-

-

$1,500,000

-

-

3

No Sales

-

86.5%

-

-

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

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

58.2%

The average home price in Ridgegate

increased by 58.2% in the first quarter of 2022 compared to that of 2021.

The small town of Roxborough Park lies between Chatfield State Park and Roxbourough State Park.

Situated at the base of the foothills, Roxborough Park provides views of natural rock formations as well as the Rocky Mountains.

SPIRIT RIDGE

2022

ROXBOROUGH PARK

2021

RIDGEGATE

January through March

STERLING RANCH WESTRIDGE

THE VILLAGE AT CASTLE PINES

Sterling Ranch is a masterplanned community located just four miles south of C-470 and one mile west of Santa Fe in Littleton. Sterling Ranch offers new homes with state-of-the-art technologies and sustainable resources.

January through March

2021

2022

% Change

$679,777

$770,064

13.3%

$267

$317

18.7%

23

21

-8.7%

$871,200

$1,036,310

19.0%

18

22

22.2%

% Sold Price to List Price

101.3%

100.5%

-0.8%

January through March

2021

2022

% Change

$1,583,056

$1,861,380

17.6%

$445

$546

22.7%

54

19

-64.8%

$3,725,000

$3,800,000

2.0%

25

20

-20.0%

% Sold Price to List Price

98.4%

101.8%

3.4%

January through March

2021

2022

% Change

$574,310

$710,824

23.8%

$311

$384

23.3%

5

5

0.0%

$821,000

$962,000

17.2%

25

17

-32.0%

105.5%

109.8%

4.0%

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold

23.8%

The average home price in Westridge

increased by 23.8% in the first quarter of 2022 compared to that of 2021.

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

in the moment Your home is more than a building or an address. It’s where you experience life, family, connection, growth. Your home should be as exceptional as you are, and as you are going to be. For a lifestyle inspired by your potential, there is only LIV Sotheby’s International Realty.

303.893.3200 | livsothebysrealty.com

04

NATIONAL PARKS

07

MOUNTAIN RANGES

28

SKI AREAS & RESORTS

WHY COLORADO?

300

AVG DAYS OF SUNSHINE ANNUALY

350+ CRAFT BREWERIES

MICRO MARKET REPORT | South Metro JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM