QUARTER 2 2022
Micro Market Report SOUTH METRO
8095 Galileo Way
1260 E. Rim Road
South Metro
SOUTH METRO NEIGHBORHOODS
MARKET UPDATE
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
Denver’s South Metro area offers a wide selection of communities that can cater to almost every lifestyle. From spacious ranch properties to exquisitely planned communities and modern condominium living, there’s something here for everyone. Featuring an abundance of parks, trails, and other recreation options in addition to a bustling business hub and endless entertainment choices, it’s no wonder why the South Metro community has remained a favorite for those looking to write their next chapter in a Colorado home. LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance through Q2 of 2022 compared to the same time frame in 2021. Inventory levels rose by 1.9% through June, bringing 5,184 new listings onto the market—an encouraging sign for buyers looking for the right South Metro home. The average price for homes in South Metro appreciated by 15.5% to reach an average price of $816,252. This increase contributed to the rise in the overall sales volume for the area which reached $3,201,340,359. Some of the most beloved areas within the South Metro neighborhood maintained steady levels of homebuying activity through the first half of the year. In Castle Rock, home sales remained relatively constant, increasing by just 0.1% to reach 1,005 homes sold. In Castle Pines, the number of homes sold rose by 1.5% which brought the total number of homes sold to 137 through June. The community with the highest number of homes sold was Highlands Ranch where there were 660 homes sold—a 15.5% decrease from the same time frame in 2021.
example, The Village at Castle Pines saw a 17% increase in average home prices, which brought the average price to $1,920,779. The most affordable homes in the South Metro area were sold in Crystal Valley where the average sale price was $658,955. Conversely, the most expensive homes were sold in Ravenna where the average sale price was $2,440,906. The highest-priced sale through June of this year was recorded in Larkspur where a home sold for the impressive price of $4,495,000.
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
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.
18
1
5
22
9
25 24 21
SOUTH METRO
23
January through June
2021
2022
% Change
New Listings
5,089
5,184
1.9%
Sold Listings (All Properties)
4,186
3,922
-6.3%
Average Price (All Properties)
$706,846
$816,252
15.5%
Average Price (Single Family)
$760,263
$869,254
14.3%
14
14
0.0%
103.3%
102.5%
-0.8%
$2,958,858,562
$3,201,340,359
8.2%
Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold
3
10
20
26
Counties: Douglas 19
South Metro’s continued popularity among homebuyers created an upward trend in home values within several neighborhoods through June of this year compared to the same time frame in 2021. For
4
16
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
17
2
6
MICRO MARKET REPORT | South Metro livsothebysrealty.com
JANUARY - JUNE 2022 • COLORADOMICROREPORTS.COM
BACKCOUNTRY BELL MOUNTAIN RANCH
increased by 25.3% in the first half of 2022 compared to that of 2021.
Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
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.
January through June 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
January through June
$1,400,364
$1,754,397
25.3%
Average Price
$418
$514
22.9%
Average Price Per Square Foot
7
7
0.0%
$2,735,000
$4,400,000
60.9%
Highest Price
67
35
-47.8%
Properties Sold
100.1%
102.3%
2.2%
2021
2022
% Change
$1,254,300
$1,504,000
19.9%
Average Price
$436
$507
16.4%
Average Price Per Square Foot
21
16
-23.8%
$1,850,000
$1,820,000
-1.6%
10
5
-50.0%
99.3%
99.4%
0.1%
2021
2022
% Change
$883,591
$1,083,813
22.7%
Average Price
$314
$382
21.8%
Average Price Per Square Foot
17
15
-11.8%
Average Days on Market
$1,900,000
$2,477,000
30.4%
Highest Price
135
137
1.5%
Properties Sold
102.8%
104.3%
1.4%
% Sold Price to List Price
Average Days on Market
% Sold Price to List Price
January through June
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
January through June
2021
2022
% Change
$723,961
$818,067
13.0%
$296
$347
17.4%
15
17
13.3%
$4,075,000
$4,700,000
15.3%
1,004
1,005
0.1%
103.5%
103.0%
-0.4%
2021
2022
% Change
$1,362,288
$1,374,600
0.9%
$312
$406
30.4%
41
6
-85.4%
$2,650,000
$1,575,000
-40.6%
16
5
-68.8%
98.6%
100.9%
2.3%
2021
2022
% Change
$566,167
$658,955
16.4%
$248
$298
19.9%
12
21
75.0%
$1,410,000
$1,195,000
-15.2%
138
157
13.8%
103.0%
101.4%
-1.6%
85.4%
The average number of days on market in Chaparral/Chenango decreased by
85.4% in the first half of 2022 compared to that of 2021.
CRYSTAL VALLEY
January through June
2022
CHAPARRAL / CHENANGO
CASTLE PINES
The average home price in Backcountry
Average Price
2021
CASTLE ROCK
25.3%
January through June
EASTRIDGE
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
33.4% The average home price in Firelight
January through June 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 Average Price Per Square Foot Average Days on Market Highest Price
increased by 33.4% in the first half of
Properties Sold
2022 compared to that of 2021.
% Sold Price to List Price
% Change
January through June
$652,396
$718,793
10.2%
Average Price
$312
$383
23.1%
Average Price Per Square Foot
5
9
80.0%
Average Days on Market
$1,170,000
$1,071,000
-8.5%
59
42
-28.8%
107.2%
104.9%
-2.1%
2021
2022
% Change
$1,285,000
$2,076,667
61.6%
Average Price
$321
$479
49.5%
Average Price Per Square Foot
35
5
-85.7%
Average Days on Market
$1,650,000
$2,605,000
57.9%
3
3
0.0%
Properties Sold
102.4%
105.4%
2.9%
% Sold Price to List Price
2021
2022
% Change
$685,933
$914,880
33.4%
Average Price
$301
$354
17.5%
Average Price Per Square Foot
6
6
0.0%
Average Days on Market
$1,100,000
$1,590,000
44.5%
Highest Price
52
59
13.5%
Properties Sold
105.2%
105.4%
0.2%
Highest Price Properties Sold % Sold Price to List Price
January through June
Highest Price
January through June
% Sold Price to List Price
2021
2022
% Change
$993,000
$1,487,500
49.8%
$394
$386
-2.0%
6
10
66.7%
$1,025,000
$1,875,000
82.9%
2
2
0.0%
104.4%
102.9%
-1.4%
2021
2022
% Change
$977,500
$1,215,750
24.4%
$320
$381
19.3%
5
6
20.0%
$1,600,000
$1,700,000
6.3%
8
8
0.0%
101.7%
106.2%
4.4%
2021
2022
% Change
$1,789,286
$2,598,275
45.2%
$442
$562
27.2%
87
13
-85.1%
$2,100,000
$3,094,824
47.4%
7
3
-57.1%
99.3%
100.1%
0.8%
24.4% The average home price in Highlands
Ranch Golf Club increased by 24.4% in the first half 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
FIRELIGHT
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.
2022
HIGHLANDS RANCH GOLF CLUB
FALCON HILLS
% Sold Price to List Price
2021
FOREST PARK
January through June
HERITAGE HILLS HIGHLANDS RANCH
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 Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
The number of homes sold in Inspiration
increased by 81.4% in the first half 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
2022
% Change
January through June
$1,342,143
$1,466,240
9.2%
$382
$443
15.8%
Average Price Per Square Foot
46
11
-76.1%
Average Days on Market
$2,045,000
$2,055,000
0.5%
28
18
-35.7%
99.9%
99.7%
-0.2%
2021
2022
% Change
$743,013
$854,645
15.0%
Average Price
$327
$386
18.1%
Average Price Per Square Foot
5
7
40.0%
Average Days on Market
$2,725,000
$4,400,000
61.5%
Highest Price
781
660
-15.5%
Properties Sold
105.9%
105.3%
-0.6%
2021
2022
% Change
$683,430
$795,299
16.4%
Average Price
$280
$334
19.5%
Average Price Per Square Foot
30
29
-3.3%
Average Days on Market
$1,050,000
$1,230,000
17.1%
Highest Price
43
78
81.4%
Properties Sold
102.6%
100.2%
-2.4%
% Sold Price to List Price
Average Price
Highest Price Properties Sold % Sold Price to List Price
January through June
% Sold Price to List Price
January through June
23.0%
2021
2022
% Change
$1,496,364
$1,841,162
23.0%
$464
$501
7.9%
13
15
15.4%
$2,250,000
$2,892,000
28.5%
11
10
-9.1%
Ranch increased by 23.0% in the first
99.1%
99.6%
0.4%
half of 2022 compared to that of 2021.
2021
2022
% Change
$975,317
$1,306,604
34.0%
$354
$436
23.3%
12
26
116.7%
$4,350,000
$4,495,000
3.3%
35
46
31.4%
106.5%
100.1%
-6.0%
2021
2022
% Change
$1,150,498
$1,236,008
7.4%
$351
$409
16.6%
27
9
-66.7%
$2,100,000
$3,094,824
47.4%
103
89
-13.6%
102.7%
102.8%
0.0%
The average home price in Keene
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
81.4%
January through June
2021
LARKSPUR
INSPIRATION
January through June
KEENE 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.
THE MEADOWS PRADERA & TIMBERS
Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
32.6%
The average price per square foot in
Pradera & Timbers increased by 32.6% in the first half 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
January through June Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
January through June
$587,447
$709,296
20.7%
Average Price
$272
$334
22.8%
Average Price Per Square Foot
7
5
-28.6%
$1,106,000
$1,450,000
31.1%
236
184
-22.0%
104.5%
104.9%
0.4%
2021
2022
% Change
$1,163,793
$1,409,678
21.1%
$330
$438
32.6%
27
12
-55.6%
$2,275,000
$2,625,000
15.4%
65
53
-18.5%
101.8%
103.3%
1.5%
2021
2022
% Change
$2,523,818
$2,440,906
-3.3%
Average Price
$719
$903
25.6%
Average Price Per Square Foot
135
75
-44.4%
Average Days on Market
$4,100,000
$3,250,000
-20.7%
Highest Price
11
11
0.0%
Properties Sold
95.7%
102.0%
6.5%
% Sold Price to List Price
Average Days on Market Highest Price Properties Sold % 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
January through June
2021
2022
% Change
$780,438
$904,312
15.9%
$310
$369
19.1%
11
6
-45.5%
$1,525,000
$1,270,000
-16.7%
16
21
31.3%
101.9%
101.9%
0.0%
2021
2022
% Change
$929,052
$968,624
4.3%
$358
$486
35.8%
45
8
-82.2%
$1,581,000
$2,600,000
64.5%
26
20
-23.1%
100.1%
101.1%
1.0%
2021
2022
% Change
$1,475,000
$1,460,000
-1.0%
$338
$369
9.0%
214
5
-97.7%
$1,900,000
$1,460,000
-23.2%
5
1
-80.0%
91.7%
100.0%
9.1%
45.5%
The average number of days on market
in Ridgegate decreased by 45.5% in the first half 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
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.
January through June
2022
ROXBOROUGH PARK
RAVENNA
Average Price
2021
RIDGEGATE
January through June
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 June 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 Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
20.4%
The average home price in Westridge
increased by 20.4% in the first half of 2022 compared to that of 2021.
January through June Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
2022
% Change
$742,301
$859,582
15.8%
$277
$328
18.3%
19
16
-15.8%
$1,225,000
$1,375,000
12.2%
41
49
19.5%
102.0%
100.6%
-1.4%
2021
2022
% Change
$1,641,895
$1,920,779
17.0%
$470
$577
22.8%
44
25
-43.2%
$4,075,000
$3,800,000
-6.7%
65
54
-16.9%
100.1%
102.2%
2.1%
2021
2022
% Change
$620,225
$746,637
20.4%
$331
$374
13.1%
4
5
25.0%
$910,000
$1,109,200
21.9%
79
49
-38.0%
107.5%
106.9%
-0.5%
in the moment The definition of paradise depends on your point of view. Find a home that makes each day more extraordinary than the last with LIV Sotheby’s International Realty.
303.893.3200 | livsothebysrealty.com
WHY COLORADO?
04
NATIONAL PARKS
07
MOUNTAIN RANGES
28
SKI AREAS & RESORTS
300
AVG DAYS OF SUNSHINE ANNUALY
350+ CRAFT BREWERIES
MICRO MARKET REPORT | South Metro JANUARY - JUNE 2022 • COLORADOMICROREPORTS.COM