South Metro Micro Market Reports | Quarter 2 2021

Q2 2021

Micro Market Report SOUTH METRO

5787 Amber Ridge Drive

1104 Northwood Lane

South Metro MARKET UPDATE

As many consumers search for homes with more space and privacy, Denver’s South Metro communities have experienced increased interest from homebuyers. This collection of cities and neighborhoods, which include The Village at Castle Pines, Castle Rock, Highlands Ranch, Lone Tree and more, offer an exciting array of entertainment options, restaurants, businesses, open spaces, and community amenities that have attracted consumers to the area in growing quantities over the last year.

Although the market has seen a slight slowdown in showing activity, likely due to the summer vacation season, this shift may actually work in buyers’ favor. Looking at the number of showings for the month of June, it appears that overall showings declined by -0.1%, according to data from the Denver Metro Market Review for the month of June, a monthly report compiled by Megan Aller of First American Title. With fewer buyers in town competing for the same homes, consumers have slightly more breathing room to tour listings and make decisions about their next real estate investment. This environment opens up more opportunities for both buyers are sellers to reach their real estate, lifestyle, and financial goals.

LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance during Q2 of 2021 compared to that of 2020. Overall, Douglas County, which encompasses the South Metro area, experienced a 13.2% increase in the total number of sold listings through June of this year compared to the same time frame last year. For all property types, average home prices rose by 25.3%, from $564,060 last year, to $706,846 so far this year. While showing activity may have slowed since the start of the summer, the pace of the market overall has accelerated in 2021. Compared to January through June of 2020, the average number of days a listing spends on the market in South Metro decreased by 61.1%, leaving listings on the market for an average of just 14 days. Together these positive increases led to an impressive 41.9% rise in the total dollar volume sold in the area, which reached $2,95,858,562.

Thanks to the community’s desirable lifestyle and stunning selection of homes, many consumers are prioritizing South Metro in their search for Colorado real estate. One of the most notable increases the number of properties sold was seen in Heritage Estates. In a comparison to January through June of 2020 to that of 2021, there were 600% more listings sold in this year when

seven homes sold compared to the same period of 2020 when there was just one home sold. An uptick in home sales was also observed in Crystal Valley, where the number of property sales increased from 64 listings sold through Q2 in 2020 to 138 listings sold through Q2 of this year.

The area’s popularity has created an upward trend in home values within several neighborhoods through June of this year compared to the same time frame in 2020. For example, Castle Pines saw a 42.1 % increase in average home prices, which brought the average price to $950,407.

Highlands Ranch also experienced this trend in appreciating home prices. Listings in this area sold for an average price of $743,013 through Q2 of 2021 – a 25.9% increase from the same period in 2020.

The increased consumer demand for South Metro homes has decreased the average amount of time that local homes spend on the market. Listings in Castle Rock experienced a notable decrease in the average days on market through June of this year, decreasing by 60% from an average of 40 days on market to just 16 days on the market.

The Backcountry neighborhood saw the pace of the market pick up even more. In this area, the average days listings spend on the market fell from 58 days during the first half of the year in 2020 to just seven days so far this year.

South Metro, and the various neighborhoods within it, provides the opportunity to enjoy the Colorado living experience with the convenience of close proximity to both nature and the city. With home values on the rise and showing activity currently experiencing a slight lull, now is the time for buyers and sellers to take advantage of the market conditions and create a life they truly love in this community.

DOUGLAS COUNTY January through June

2020

2021

% Change

New Listings

5,217

5,089

-2.5%

Sold Listings (all properties)

3,698

4,186

13.2%

Average Price (all Properties)

$564,060

$706,846

25.3%

Average Price (single family)

$602,065

$760,263

26.3%

36

14

-61.1%

99.2%

103.3%

4.1%

$2,085,892,897

$2,958,858,562

41.9%

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

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 Castle Pines

19. The Meadows

Golf Club

4. Castle Rock 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

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

MICROMARKET REPORT | South Metro livsothebysrealty.com

JANUARY - JUNE 2021 • COLORADOMICROREPORTS.COM

BACKCOUNTRY BELL MOUNTAIN RANCH CASTLE PINES

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

74.7%

January through June Average Price Average Price per Square Foot Average Days on Market

The average days on market in Bell

Highest Price

Mountain Ranch decreased by 74.7%

Properties Sold

January through June 2021 compared to that of 2020.

% Sold Price to List Price

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

2020

2021

% Change

$1,070,548

$1,400,364

30.8%

$360

$418

16.2%

58

7

-87.9%

$2,986,405

$2,735,000

-8.4%

42

67

59.5%

96.8%

100.1%

3.3%

2020

2021

% Change

$943,929

$1,254,300

32.9%

$361

$436

20.7%

83

21

-74.7%

$1,100,000

$1,850,000

68.2%

6

10

66.7%

97.3%

99.3%

2.1%

2020

2021

% Change

$668,668

$950,407

42.1%

$247

$322

30.5%

37

22

-40.5%

$1,476,000

$3,000,000

103.3%

51

59

15.7%

97.1%

104.5%

7.6%

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

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

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

% Change

$542,323

$676,072

24.7%

$241

$292

21.3%

40

16

-60.0%

$3,266,716

$4,075,000

24.7%

1,024

1,175

14.7%

98.3%

103.5%

5.3%

2020

2021

% Change

$956,678

$1,362,288

42.4%

$279

$312

11.6%

143

41

-71.3%

$1,135,000

$2,650,000

133.5%

9

16

77.8%

88.8%

98.6%

11.1%

2020

2021

% Change

$493,328

$566,167

14.8%

$209

$248

18.8%

42

12

-71.4%

$857,500

$1,410,000

64.4%

64

138

115.6%

98.4%

103.0%

4.7%

77.8% The number of properties sold in Chaparral/Chenango increased by 77.8% January through June 2021 compared to that of 2020.

CRYSTAL VALLEY

January through June

2021

CHAPARRAL/CHENANGO

January through June

2020

CASTLE ROCK

January through June

The average price in Eastridge increased by 27.4% January through June 2021 compared to that of 2020.

FIRELIGHT

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

January through June

FALCON HILLS

EASTRIDGE

27.4%

January through June

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

76.0%

January through June Average Price Average Price per Square Foot Average Days on Market

The average days on market in Firelight

Highest Price

decreased by 76.0% January through

Properties Sold

June 2021 compared to that of 2020.

% Sold Price to List Price

2020

2021

% Change

$512,202

$652,396

27.4%

$262

$312

18.7%

10

5

-50.0%

$805,000

$1,170,000

45.3%

49

59

20.4%

100.3%

107.2%

6.9%

2020

2021

% Change

$1,341,667

$1,285,000

-4.2%

$326

$321

-1.6%

33

35

6.1%

$1,605,000

$1,650,000

2.8%

6

3

-50.0%

96.6%

102.4%

5.9%

2020

2021

% Change

$592,875

$685,933

15.7%

$253

$301

18.9%

25

6

-76.0%

$975,000

$1,100,000

12.8%

44

52

18.2%

98.4%

105.2%

6.9%

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

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

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

2021

% Change

$817,900

$993,000

21.4%

$279

$394

41.1%

61

6

-90.2%

$950,500

$1,025,000

7.8%

5

2

-60.0%

99.4%

104.4%

5.0%

2020

2021

% Change

$885,750

$977,500

10.4%

$265

$320

20.6%

38

5

-86.8%

$1,285,000

$1,600,000

24.5%

Highlands Ranch Golf Club increased

10

8

-20.0%

by 20.6% January through June 2021

98.5%

101.7%

3.3%

2020

2021

% Change

$1,700,000

$1,789,286

5.3%

$309

$442

43.2%

98

87

-11.2%

$1,700,000

$2,100,000

23.5%

1

7

600.0%

97.1%

99.3%

2.3%

20.6% The average price per square foot in

compared to that of 2020.

HERITAGE ESTATES

January through June

2020

HIGHLANDS RANCH GOLF CLUB

January through June

FOREST PARK

January through June

HERITAGE HILLS HIGHLANDS RANCH INSPIRATION

January through June

2020

2021

% Change

$1,202,337

$1,342,143

11.6%

$357

$382

7.1%

62

46

-25.8%

$1,989,428

$2,045,000

2.8%

15

28

86.7%

% Sold Price to List Price

97.8%

99.9%

2.2%

January through June

2020

2021

% Change

$590,006

$743,013

25.9%

$271

$327

20.4%

20

5

-75.0%

$2,986,405

$2,725,000

-8.8%

695

781

12.4%

99.0%

105.9%

6.9%

2020

2021

% Change

$589,147

$683,430

16.0%

$247

$280

13.3%

120

30

-75.0%

$726,600

$1,050,000

44.5%

44

43

-2.3%

97.9%

102.6%

4.8%

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

75.0%

Average Price Average Price per Square Foot Average Days on Market

The average days on market in

Highest Price

Highlands Ranch decreased by 75.0%

Properties Sold

January through June 2021 compared to that of 2020.

13.3%

% Sold Price to List Price

January through June Average Price Average Price per Square Foot Average Days on Market

The average price per square foot in

Highest Price

Inspiration increased by 13.3% January

Properties Sold

through June 2021 compared to that of 2020.

% Sold Price to List Price

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

January through June

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

January through June

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

% Change

$1,070,000

$1,496,364

39.8%

$328

$464

41.6%

58

13

-77.6%

$1,220,000

$2,250,000

84.4%

3

11

266.7%

86.6%

99.1%

14.5%

2020

2021

% Change

$785,833

$906,190

15.3%

$289

$354

22.4%

56

14

-75.0%

$4,115,000

$4,350,000

5.7%

45

42

-6.7%

97.6%

104.9%

7.5%

2020

2021

% Change

$902,586

$1,150,498

27.5%

$291

$351

20.5%

48

27

-43.8%

$1,989,428

$2,100,000

5.6%

61

103

68.9%

97.0%

102.7%

5.9%

84.4% The highest price in Keene Ranch increased by 84.4% January through June 2021 compared to that of 2020.

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

2021

LARKSPUR

Average Price

2020

KEENE RANCH

January through June

THE MEADOWS PRADERA & TIMBERS

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

59.7%

January through June Average Price Average Price per Square Foot Average Days on Market

The average days on market in Pradera

Highest Price

& Timbers decreased by 59.7% January

Properties Sold

through June 2021 compared to that of 2020.

% Sold Price to List Price

RAVENNA

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

2020

2021

% Change

$496,041

$587,447

18.4%

$227

$272

19.5%

30

7

-76.7%

$810,000

$1,106,000

36.5%

225

236

4.9%

99.0%

104.5%

5.6%

2020

2021

% Change

$917,299

$1,163,793

26.9%

$264

$330

25.1%

67

27

-59.7%

$1,787,530

$2,275,000

27.3%

55

65

18.2%

96.9%

101.8%

5.1%

2020

2021

% Change

$1,976,247

$2,523,818

27.7%

$703

$719

2.3%

142

135

-4.9%

$3,047,125

$4,100,000

34.6%

11

11

-

101.4%

95.7%

-5.6%

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

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

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

% Change

$648,316

$780,438

20.4%

$287

$310

7.9%

56

11

-80.4%

$1,307,579

$1,525,000

16.6%

19

16

-15.8%

95.9%

101.9%

6.3%

2020

2021

% Change

$719,181

$929,052

29.2%

$328

$358

9.1%

55

45

-18.2%

$2,400,000

$1,581,000

-34.1%

The number of properties sold in

21

26

23.8%

Roxborough Park increased by 23.8%

99.2%

100.1%

0.9%

2020

2021

% Change

$1,326,669

$1,475,000

11.2%

$310

$338

9.1%

115

214

86.1%

$1,875,844

$1,900,000

1.3%

5

5

-

93.6%

91.7%

-2.1%

23.8% January through June 2021 compared to that of 2020.

9.1% The average price per square foot in Spirit Ridge increased by 9.1% January through June 2021 compared to that of 2020.

SPIRIT RIDGE

January through June

2021

ROXBOROUGH PARK

January through June

2020

RIDGEGATE

January through June

WESTRIDGE

Average Price Average Price per Square Foot Average Days on Market

The average days on market in Sterling

Highest Price

Ranch decreased by 79.3% January

Properties Sold

through June 2021 compared to that of 2020.

THE VILLAGE AT CASTLE PINES

STERLING RANCH

79.3%

January through June

% Sold Price to List Price

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

18.3%

January through June Average Price Average Price per Square Foot Average Days on Market

The number of properties sold in the

Highest Price

neighborhood of Westridge increased by

Properties Sold

18.3% January through June 2021 compared to that of 2020.

% Sold Price to List Price

2020

2021

% Change

$633,164

$742,301

17.2%

$242

$277

14.5%

92

19

-79.3%

$1,015,000

$1,225,000

20.7%

47

41

-12.8%

96.8%

102.0%

5.4%

2020

2021

% Change

$1,202,606

$1,641,895

36.5%

$383

$470

22.6%

96

44

-54.2%

$3,266,716

$4,075,000

24.7%

55

65

18.2%

94.0%

100.1%

6.5%

2020

2021

% Change

$478,805

$606,780

26.7%

$280

$330

18.0%

10

5

-50.0%

$780,000

$910,000

16.7%

71

84

18.3%

100.5%

107.2%

6.6%

MICROMARKET REPORT | South Metro JANUARY - JUNE 2021 • COLORADOMICROREPORTS.COM