South Metro Market Reports | Quarter 3 2021

Q3 2021

Micro Market Report SOUTH METRO

6501 Jackson Creek Road

586 Tessa View Lane

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 business hubs such as the Denver Tech Center, the South Metro community boasts a one-of-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 Q3 of 2021 compared to the same time frame in 2020. Although the number of new listings on the market decreased slightly by 2.4%, the number of homes sold so far this year has remained steady. Through September, the number of homes sold in Douglas County, which encompasses the South Metro area, experienced a small 0.3% boost totaling 6,726 listings sold. The low level of available inventory paired with the sustained level of demand for South Metro homes has led to a notable 23.6% appreciation in home prices for all property types. This increase brought the average sale price for homes in South Metro to $712,391 through September of 2021.

Many individual neighborhoods within South Metro saw impressive increases in the number of homes sold so far this year compared to the same time frame last year. Heritage Estates, a community built around the Lone Tree Golf Course, saw a boom in homebuying, rising from three homes sold to 11 homes sold – a 266.7% increase. Keene Ranch also saw its property sales more than double over the course of the year. Here, property sales grew by 142.9% from seven homes sold to 17 homes sold. The beloved community of Castle Rock saw the most property sales overall, totaling 1,601 through September, which is 1.2% more sold listings than the previous year.

Limited inventory and the sustained demand for South Metro homes pushed the average amount of time that homes in this area spend on the market downward in several neighborhoods. For example, in Backcountry the number of days homes spent on the market decreased from an average 55 days to just eight days through September of this year – an 85.5% difference. Other areas have seen less dramatic decreases. In Ravenna, the average days on market decreased by 9.2%, bringing the average time a home in this neighborhood spent on the market to 108 days this year.

Conveniently located near all of 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.

DOUGLAS COUNTY January through September

2020

2021

% Change

New Listings

7,892

7,699

-2.4%

Sold Listings (All Properties)

6,709

6,726

0.3%

Average Price (All Properties)

$576,371

$712,391

23.6%

Average Price (Single Family)

$615,004

$766,026

24.6%

33

13

-60.6%

99.4%

102.6%

3.2%

$3,866,874,932

$4,791,544,429

23.9%

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

South Metro’s popularity among homebuyers has created an upward trend in home values within several neighborhoods through September of this year compared to the same time frame in 2020. For example, The Village at Castle Pines saw a 37.1% increase in average home prices, which brought the average price to $1,716,479. Lone Tree also experienced this trend in appreciating home prices. Listings in this area sold for an average price of $1,164,353 through Q3 of 2021 – a 31.7% increase from the same period in 2020.

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 - SEPTEMBER 2021 • COLORADOMICROREPORTS.COM

BACKCOUNTRY BELL MOUNTAIN RANCH CASTLE PINES

85.5% The average days on market in Backcountry decreased by 85.5% January through September 2021 compared to that of 2020.

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 September

2020

2021

% Change

$1,070,365

$1,420,046

32.7%

$350

$426

21.8%

55

8

-85.5%

$3,000,000

$2,725,000

-9.2%

75

84

12.0%

% Sold Price to List Price

96.1%

100.2%

4.2%

January through September

2020

2021

% Change

$929,629

$1,310,538

41.0%

$347

$465

34.1%

76

22

-71.1%

$1,250,000

$1,850,000

48.0%

17

13

-23.5%

95.2%

97.0%

1.9%

2020

2021

% Change

$720,599

$924,761

28.3%

$252

$323

28.1%

31

17

-45.2%

$2,500,000

$3,000,000

20.0%

105

123

17.1%

97.9%

102.4%

4.6%

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

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

CASTLE ROCK

January through September

% Change

$584,827

$725,371

24.0%

$246

$301

22.7%

35

14

-60.0%

$3,266,716

$4,295,000

31.5%

1,582

1,601

1.2%

98.6%

102.9%

4.4%

2020

2021

% Change

$1,035,385

$1,400,209

35.2%

$285

$332

16.4%

112

33

-70.5%

$1,650,000

$2,650,000

60.6%

Chenango increased by 60.6% January

13

22

69.2%

through September 2021 compared to that

% Sold Price to List Price

91.1%

99.8%

9.6%

January through September

2020

2021

% Change

$496,633

$576,476

16.1%

$209

$256

22.8%

36

12

-66.7%

$857,500

$1,410,000

64.4%

125

203

62.4%

98.8%

102.8%

4.1%

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

January through September 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

60.6% The highest sale price in Chaparral/

of 2020.

CRYSTAL VALLEY

2021

CHAPARRAL/CHENANGO

2020

EASTRIDGE FALCON HILLS FIRELIGHT

35.3% The highest price in Eastridge increased by 35.3% January through September 2021 compared to that of 2020.

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.

22.0%

The average price per square foot in

Firelight increased by 22.0% January

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

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

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

through September 2021 compared to that

Properties Sold

of 2020.

% Sold Price to List Price

2020

2021

% Change

$529,669

$652,162

23.1%

$270

$315

16.5%

12

5

-58.3%

$865,000

$1,170,000

35.3%

100

98

-2.0%

100.3%

105.7%

5.4%

2020

2021

% Change

$1,272,950

$1,285,000

0.9%

$316

$321

1.6%

42

35

-16.7%

$1,605,000

$1,650,000

2.8%

10

3

-70.0%

96.3%

102.4%

6.2%

2020

2021

% Change

$608,497

$701,145

15.2%

$250

$304

22.0%

19

6

-68.4%

$975,000

$1,235,000

26.7%

88

78

-11.4%

98.8%

105.0%

6.2%

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

$916,357

$1,025,333

11.9%

$328

$359

9.5%

47

6

-87.2%

$1,365,000

$1,090,000

-20.1%

7

3

-57.1%

99.4%

100.8%

1.3%

2020

2021

% Change

$798,746

$820,271

2.7%

$265

$317

19.4%

51

6

-88.2%

$1,285,000

$1,600,000

24.5%

17

17

-

97.3%

101.9%

4.8%

2020

2021

% Change

$1,380,775

$1,759,000

27.4%

$314

$450

43.6%

105

67

-36.2%

$1,700,000

$2,500,000

47.1%

3

11

266.7%

89.0%

100.1%

12.5%

88.2% The average days on market in

Highlands Ranch Golf Club decreased by 88.2% January through September 2021 compared to that of 2020.

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

January through September

2021

HIGHLANDS RANCH GOLF CLUB

January through September

2020

FOREST PARK

January through September

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 September

2020

2021

% Change

$1,147,836

$1,439,402

25.4%

$333

$401

20.1%

46

36

-21.7%

$1,989,428

$2,500,000

25.7%

32

45

40.6%

% Sold Price to List Price

97.1%

99.6%

2.6%

January through September

2020

2021

% Change

$597,155

$741,325

24.1%

$272

$330

21.3%

19

6

-68.4%

$3,000,000

$2,725,000

-9.2%

1,269

1,262

-0.6%

99.2%

105.0%

5.9%

2020

2021

% Change

$590,870

$711,836

20.5%

$264

$286

8.4%

112

26

-76.8%

$799,000

$1,050,000

31.4%

87

57

-34.5%

97.9%

102.1%

4.2%

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

76.8%

The average days on market in Inspiration decreased by 76.8% January through September 2021 compared to that of 2020.

January through September 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

January through September

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

January through September

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

% Change

$1,247,857

$1,594,706

27.8%

$383

$474

23.9%

39

10

-74.4%

$1,750,000

$3,270,000

86.9%

7

17

142.9%

94.2%

99.6%

5.7%

2020

2021

% Change

$778,596

$952,213

22.3%

$296

$359

21.2%

47

10

-78.7%

$4,115,000

$4,350,000

5.7%

73

59

-19.2%

98.1%

104.4%

6.4%

2020

2021

% Change

$883,829

$1,164,353

31.7%

$287

$358

24.7%

38

23

-39.5%

$1,989,428

$2,500,000

25.7%

128

159

24.2%

97.0%

101.6%

4.7%

142.9% The number of properties sold in Keene Ranch increased by 142.9% January through September 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 September

THE MEADOWS PRADERA & TIMBERS RAVENNA

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

24.2% The average price per square foot in Pradera & Timbers increased by 24.2% January through September 2021 compared to that of 2020.

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

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

2020

2021

% Change

$500,928

$601,086

20.0%

$230

$275

19.5%

26

8

-69.2%

$825,000

$1,106,000

34.1%

403

369

-8.4%

99.2%

103.7%

4.5%

2020

2021

% Change

$939,519

$1,166,427

24.2%

$270

$335

24.2%

57

22

-61.4%

$2,500,000

$2,275,000

-9.0%

102

92

-9.8%

97.2%

101.4%

4.3%

2020

2021

% Change

$1,923,170

$2,575,467

33.9%

$684

$732

7.0%

119

108

-9.2%

$3,047,125

$4,100,000

34.6%

16

15

-6.3%

100.2%

96.4%

-3.8%

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

$666,763

$824,250

23.6%

$286

$326

14.2%

48

10

-79.2%

79.2%

$1,400,400

$1,578,500

12.7%

The average days on market in Ridgegate

32

32

-

95.8%

101.6%

6.1%

2020

2021

% Change

$727,926

$944,227

29.7%

$316

$376

18.9%

52

40

-23.1%

$2,400,000

$2,012,896

-16.1%

43

43

-

98.3%

99.8%

1.5%

2020

2021

% Change

$1,284,724

$1,606,667

25.1%

$313

$388

24.0%

99

179

80.8%

$1,875,844

$2,265,000

20.7%

6

6

-

93.6%

95.6%

2.1%

decreased by 79.2% January through September 2021 compared to that of 2020.

25.1% The average price in Spirit Ridge increased by 25.1% January through September 2021 compared to that of 2020.

SPIRIT RIDGE

January through September

2021

ROXBOROUGH PARK

January through September

2020

RIDGEGATE

January through September

WESTRIDGE

2020

2021

% Change

$635,239

$749,600

18.0%

$246

$285

15.6%

84

16

-81.0%

$1,015,000

$1,495,000

47.3%

89

61

-31.5%

% Sold Price to List Price

97.3%

101.5%

4.4%

January through September

2020

2021

% Change

$1,251,611

$1,716,479

37.1%

$372

$492

32.3%

72

41

-43.1%

$3,266,716

$4,295,000

31.5%

109

94

-13.8%

94.5%

100.3%

6.1%

2020

2021

% Change

$502,625

$637,431

26.8%

$279

$326

16.7%

10

5

-50.0%

$780,000

$1,226,000

57.2%

118

128

8.5%

100.4%

106.5%

6.0%

Average Price Average Price Per Square Foot Average Days on Market

The highest price in Sterling Ranch

Highest Price

increased by 47.3% January through

Properties Sold

September 2021 compared to that of 2020.

THE VILLAGE AT CASTLE PINES

STERLING RANCH

47.3%

January through September

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

50.0%

January through September Average Price Average Price Per Square Foot Average Days on Market

The average days on market in Westridge

Highest Price

decreased by 50.0% January through

Properties Sold

September 2021 compared to that of 2020.

% 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

WHY COLORADO?

04

NATIONAL PARKS

07

MOUNTAIN RANGES

28

SKI AREAS & RESORTS

300

AVG DAYS OF SUNSHINE ANNUALY

350+ CRAFT BREWERIES

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