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
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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