MICROMARKET REPORT |
South Metro • January-September 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: 762 Valderrama Court, Castle Rock
coloradomicroreports.com
SOUTH METRO market update Denver’s South Metro area is home to many influential neighborhoods including Castle Pines Village, Castle Rock, Highlands Ranch, Broadmoor, and more. Covering the southern I-25 corridor, South Metro also features the prominent Denver Tech Center with numerous Fortune 500 companies, Centennial Airport, plentiful shopping destinations, renowned golf courses, recreational activities, and an abundance of restaurants.
January-September 2018 Highlights:
Living in South Metro provides residents easy access to parks, scenery, national forests, and the open space that Colorado is known for. Homes within these neighborhoods often feature large lots with expansive views or condominiums with appreciated amenities. Highlights from LIV Sotheby’s International Realty’s report comparing January through September of 2018 to 2017 include average price increases of over 10% for Backcountry, Bell Mountain Ranch, Castle Pines, Colorado Springs, Keene Ranch, and Larkspur. Keene Ranch reported the highest average price increase of 19.2% to $1,177,143 in 2018. Average days on market decreased for many areas including an over 20% decrease for Broadmoor, Firelight, Highlands Ranch, Inverness, Pradera & Timbers, and Sedalia. Castle Rock reported an impressive increase of highest price by 109% in 2018 to $2,300,000.
• Colorado Springs’s average price is $344,242
10.6%
• Larkspur’s average price is $722,603
15.3%
• Lone Tree’s average price is $752,447
7.2%
• Parker’s average price is $509,510
5.6%
The South Metro neighborhoods offer a unique and desirable Colorado lifestyle. For buyers, prices remain competitive in this area with the overall percentage of sold-price to list-price remaining relatively similar to 2017. For sellers, attraction continues to rise for this area and buyers are prepared to move quick for a majority of the neighborhoods.
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 JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM
BACKCOUNTRY January through September Average Price
2017
$1,121,425
17.5%
$283
$330
16.6%
67
67
0.0%
$2,200,000
$2,550,000
15.9%
60
85
41.7%
95.0%
98%
3.2%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$954,464
Average Price per Square Foot
Highest Price
2018
BELL MOUNTAIN RANCH January through September Average Price
2017
$897,333
12.3%
$290
$316
8.9%
153
154
0.7%
$967,500
$1,400,000
44.7%
12
18
50.0%
94.8%
95.4%
0.6%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$798,967
Average Price per Square Foot
Highest Price
2018
8.9%
January through September 2018, the average price per square foot in the neighborhood of Bell Mountain Ranch increased by 8.9% compared to that of 2017.
BROADMOOR/CO SPRINGS January through September Average Price
2017
2018
% Change
$944,031
$971,710
2.9%
Average Price per Square Foot
192
194
1.0%
Average Days on Market
134
92
-31.3%
$2,400,000
$1,720,000
-28.3%
17
17
0.0%
95.7%
96.6%
0.9%
Highest Price Properties Sold % Sold Price to List Price
coloradomicroreports.com
CASTLE PINES January through September Average Price
Castle Pines, located just 20 miles south of Denver, offers its residents the perfect balance of open space and urban living.
2017
% Change
$639,191
$730,538
14.3%
$230
$248
7.8%
46
56
21.7%
$1,785,000
$1,925,670
7.8%
186
171
-8.0%
96%
97%
1.0%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
CASTLE PINES VILLAGE January through September
2017
2018
Average Price
$1,169,662
$1,191,863
1.9%
$329
$345
4.9%
166
138
-16.9%
$4,800,000
$4,300,000
-10.4%
102
118
15.7%
88.0%
92.0%
4.5%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
4.8%
January through September 2018, the average price in Castle Rock increased by 4.8% compared to that of 2017.
% Change
CASTLE ROCK January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$445,758
$467,364
4.8%
$220
$227
3.2%
22
49
122.7%
$1,100,600
$2,300,000
109.0%
22
27
22.7%
97.0%
99.0%
2.1%
MICROMARKET REPORT | South Metro livsothebysrealty.com
JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM
COLORADO SPRINGS January through September Average Price
2017
2018
% Change
$311,197
$344,242
10.6%
$126
$138
9.3%
31
28
-9.7%
$3,300,000
4,376,250
32.6%
Properties Sold
12,452
12,100
-2.8%
% Sold Price to List Price
99.7%
100.0%
0.3%
Average Price per Square Foot Average Days on Market Highest Price
10.6%
The average price in Colorado Springs increased by 10.6% January through September 2018 compared to that of 2017.
DIAMOND RIDGE January through September
2017
2018
Average Price
$1,037,389
$1,087,417
4.8%
$288
$264
-8.5%
80
147
83.8%
$1,720,000
$1,275,000
-25.9%
9
6
-33.3%
97.1%
92.2%
-5.1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
FIRELIGHT/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
2017
2018
% Change
$540,435
$577,886
6.9%
$212
$231
8.9%
25
19
-24.0%
$925,000
$920,000
-0.5%
43
35
-18.6%
98.6%
98.8%
0.2%
8.9%
The average price per square foot in Firelight increased by 8.9% January through September 2018 compared to that of 2017.
coloradomicroreports.com
HIGHLANDS RANCH January through September Average Price
2017
$518,430
2.9%
$239
$249
4.1%
18
13
-27.8%
$8,116,000
$2,930,758
-63.9%
507
511
0.8%
99.8%
99.8%
0.1%
Average Days on Market
Properties Sold % Sold Price to List Price
5.5%
The highest price in Inverness increased by 5.5% January through September 2018 compared to that of 2017.
% Change
$503,978
Average Price per Square Foot
Highest Price
2018
INVERNESS January through September Average Price
2017
$468,257
-3.2%
$311
$316
1.6%
50
38
-24.0%
$965,000
$1,018,000
5.5%
41
35
-14.6%
96.5%
97.9%
1.5%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$483,753
Average Price per Square Foot
Highest Price
2018
KEENE RANCH January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$987,454
$1,177,143
19.2%
$324
$417
28.7%
69
114
65.2%
$1,247,400
$2,375,000
90.4%
10
7
-30.0%
95.5%
87.8%
-8.0%
MICROMARKET REPORT | South Metro livsothebysrealty.com
JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM
LARKSPUR January through September
2017
Average Price
% Change
$626,846
$722,603
15.3%
$263
$277
5.3%
82
67
-18.3%
$2,719,200
$6,750,000
148.2%
82
93
13.4%
97.3%
97.8%
0.5%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
15.3%
The average price in Larkspur increased by 15.3% January through September 2018 compared to that of 2017.
LONE TREE January through September
2017
Average Price
% Change
$702,076
$752,447
7.2%
$273
$280
2.5%
44
40
-9.1%
$2,600,000
$2,400,000
-7.7%
186
196
5.4%
97.1%
97.5%
0.3%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
THE MEADOWS January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$447,868
$463,607
3.5%
$201
$215
7.0%
26
30
15.4%
$801,262
$772,000
-3.7%
336
385
14.6%
98.7%
98.8%
0.1%
7.0%
The average price per square foot in The Meadows increased by 7.0% January through September 2018 compared to that of 2017.
coloradomicroreports.com
PARKER January through September Average Price
2017
$509,510
5.6%
$222
$238
7.1%
31
30
-3.2%
$3,500,000
$2,395,000
-31.6%
1,939
1,896
-2.2%
98.8%
99.0%
0.2%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$482,446
Average Price per Square Foot
Highest Price
2018
PRADERA & TIMBERS January through September Average Price
Pradera, situated beautifully in the rolling countryside between Parker and Castle Rock, offers residences sweeping views and year-round recreational activities.
2017
$815,962
2.3%
$246
$243
-1.2%
91
45
-50.5%
$1,535,000
$1,725,000
12.4%
104
94
-9.6%
94.8%
97.8%
3.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$797,728
Average Price per Square Foot
Highest Price
2018
SEDALIA January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$701,292
$725,379
3.4%
$288
$344
19.5%
82
58
-29.3%
$2,800,000
$3,026,700
8.1%
63
42
-33.3%
95.8%
95.4%
-0.4%
MICROMARKET REPORT | South Metro livsothebysrealty.com
JANUARY- SEPTEMBER 2018 • 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.