South Metro Q3, 2017 Micro Market Report

Page 1

NEIGHBORHOOD MICROMARKET REPORT |

January through June

2016

2017

% Change

Average Price South Metro • January-September 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: 1023 Anaconda Drive, Castle Rock

coloradomicroreports.com


SOUTH METRO AREA Market Introduction Comprised of four influential counties, the South Denver metro region is a popular area for residents and families to live that are seeking proximity to amenities, without sacrificing access to the outdoors. The recreational activities South Metro provides, in combination with the close proximity to shopping and dining the area offers, position Highlands Ranch, Castle Rock, Castle Pines Village, Parker, and Sedalia as highly sought after residential areas in South Metro. The South Denver metro region is host to many fine golf courses, which often lends to price appreciation across the board due to residents’ continued desire for a golf-inspired lifestyle opportunities. From January through September 2017, the average price per square foot in Castle Pines Village increased by 21.1% 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 3.8% in January through September 2017, compared to that of 2016.

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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.

January-September 2017 Highlights: • Castle Rock’s average price is $412,591

4.2%

• Diamond Ridge’s average price is $575,382

9.7%

• Lone Tree’s average price is $766,083

19.7%

• Pradera & Timber’s average price is $797,728

5.7%

MICROMARKET REPORT | South Metro JANUARY-SEPTEMBER 2017 • COLORADOMICROREPORTS.COM


BELL MOUNTAIN RANCH January through September Average Price

2016

$798,867

4.8%

$276

$290

5.2%

94

153

62.8%

$986,660

$967,500

-1.9%

14

12

-14.3%

93.8%

94.8%

1.1%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$762,369

Average Price per Square Foot

Highest Price

2017

CASTLE PINES January through September Average Price

2016

$607,758

1.5%

$214

$222

3.8%

56

49

-12.5%

$1,465,000

$1,400,000

-4.4%

89

94

5.6%

96.4%

96.9%

0.5%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$598,690

Average Price per Square Foot

Highest Price

2017

3.8%

The average price per square foot in Castle Pines increased by 3.8% January through September 2017 compared to that of 2016.

CASTLE PINES VILLAGE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2016

2017

% Change

$1,065,350

$1,225,774

15.1%

$309

$334

7.9%

141

168

19.1%

$2,875,000

$4,800,000

67.0%

76

92

21.1%

96.9%

96.7%

-0.2%

coloradomicroreports.com


CASTLE ROCK January through September

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

$412,591

4.2%

$198

$216

9.2%

39

32

-17.9%

$1,895,000

$1,435,000

-24.3%

313

325

3.8%

99.1%

99.0%

-0.1%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$396,062

Average Price per Square Foot

Highest Price

2017

DIAMOND RIDGE January through September

2016

Average Price

$575,382

9.7%

$196

$213

8.7%

61

45

-26.2%

$1,400,000

$1,720,000

22.9%

89

88

-1.1%

97.2%

98.3%

1.2%

Average Days on Market

Properties Sold % Sold Price to List Price

8.3%

January through September 2017, the average price per square foot in Highlands Ranch increased by 8.3% compared to that of 2016.

% Change

$524,611

Average Price per Square Foot

Highest Price

2017

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

2016

2017

% Change

$465,354

$504,077

8.3%

$220

$239

8.7%

19

18

-5.3%

$2,604,938

$8,116,000

211.6%

524

506

-3.4%

99.2%

99.8%

0.6%

MICROMARKET REPORT | South Metro livsothebysrealty.com

JANUARY-SEPTEMBER 2017 • COLORADOMICROREPORTS.COM


KEENE RANCH January through September Average Price

2016

$1,044,615

6.6%

$265

$296

11.8%

59

37

-37.3%

$1,335,000

$1,495,000

12.0%

18

13

-27.8%

94.1%

97.4%

3.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$980,194

Average Price per Square Foot

Highest Price

2017

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

LARKSPUR January through September Average Price

2016

$634,315

3.3%

$239

$258

7.7%

109

88

-19.3%

$3,200,000

$2,719,200

-15.0%

73

88

20.5%

95.5%

97.7%

2.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$614,095

Average Price per Square Foot

Highest Price

2017

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

2016

2017

% Change

$640,034

$766,083

19.7%

$216

$245

13.5%

61

47

-23.0%

$1,655,000

$2,600,000

57.1%

41

32

-22.0%

97.0%

95.8%

-1.3%

13.5%

The average price per square foot in Lone Tree increased by 13.5% January through September 2017 compared to that of 2016.

coloradomicroreports.com


THE MEADOWS January through September Average Price

2016

$447,868

6.2%

$191

$201

5.4%

35

26

-25.7%

$720,000

$801,262

11.3%

393

336

-14.5%

98.4%

98.7%

0.3%

Average Days on Market

Properties Sold % Sold Price to List Price

5.7%

January through September 2017, the average price in the neighborhood of Pradera & Timbers increased by 5.7% compared to that of 2016.

% Change

$421,693

Average Price per Square Foot

Highest Price

2017

PRADERA & TIMBERS January through September Average Price

2016

$797,728

5.7%

$227

$246

8.2%

94

91

-3.2%

$1,720,000

$1,535,000

-10.8%

88

104

18.2%

96.8%

94.8%

-2.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$754,608

Average Price per Square Foot

Highest Price

2017

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

2016

2017

% Change

$802,165

$713,829

-11.0%

$361

$281

-22.1%

106

90

-15.1%

$2,850,000

$2,800,000

-1.8%

26

28

7.7%

90.9%

92.7%

2.0%

MICROMARKET REPORT | South Metro livsothebysrealty.com

JANUARY-SEPTEMBER 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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