YEAR-END 2021
Micro Market Report SOUTH METRO
586 Tessa View Lane
984 Preston Court
South Metro MARKET UPDATE
As a hub for business and technology in Colorado, with the added bonus of natural beauty and desirable suburban living, it’s no wonder that Denver’s South Metro community is a highly sought-after destination to buy and sell homes. Located within Douglas County, this area offers more space and affordability than other areas closer to Denver Metro while providing a lifestyle that prioritizes convenience, community, and all of the amenities that one could ask for. For these reasons, South Metro continues to be one of the beloved areas to invest in real estate along the Front Range. LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance of 2021 compared to 2020. Although the number of sold listings decreased slightly by 2.8%, the appreciating price for all property types rose by 21.9%, which resulted in an increase of 18.6% in the overall dollar volume sold – totaling $6,319,292,491 last year. Many individual neighborhoods within South Metro saw impressive increases in the number of homes sold in 2021 compared to 2020. The most dramatic increase was seen in Heritage Estates, a community built around the Lone Tree Golf Course. Here, the number of homes sold rose by 120% from five homes sold in 2020 to 11 homes sold last year. Keene Ranch had a boost of property sales last year, as well, growing by 28.6%. Out of all South Metro neighborhoods, Castle Rock had the most homes sold ending the year with a total of 2,100 – 1.7% less than 2020. Following close behind is Highlands Ranch, which had 1,589 in 2021. South Metro’s popularity among homebuyers created an upward trend in home values within several neighborhoods last year compared to 2020. For example, Ravenna saw a 36% increase in average home prices, which brought the average price to $2,613,835 – the highest out of all South Metro neighborhoods. Bell Mountain Ranch also experienced this trend in appreciating home prices. Listings in this area sold for an average price of $1,312,075 in 2021 – a 31.6% increase from 2020. The most affordable homes, based on average price, were found in Crystal Valley. Last year, the average price for homes in this neighborhood was $580,214.
Limited inventory and the sustained demand for South Metro homes decreased the average amount of time that homes in several neighborhoods spent on the market. In Castle Pines, the number of days homes spent on the market decreased from an average of 31 days in 2020 to 17 days in 2021 – a 45.25% difference. Castle Rock experienced a similar acceleration in the marketplace, decreasing the average days on market by 58.8% – bringing the average days on market down to 14 in 2021. Homes spent the most time on the market in Spirit Ridge, where the average days on market in 2021 was 179 days – although there were just six homes sold here last 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.
SOUTH METRO January through December
2020
2021
% Change
New Listings
9,512
9,292
-2.3%
Sold Listings (All Properties)
9,032
8,782
-2.8%
Average Price (All Properties)
$590,070
$719,573
21.9%
Average Price (Single Family)
$632,572
$773,155
22.2%
32
14
-56.3%
99.7%
102.1%
2.4%
$5,329,508,886
$6,319,292,491
18.6%
Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold
Counties: Douglas
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
4. Castle Rock
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
18
1
5
22
9
25 24 21
23 3
10
20
26
19
4
16
17
2
6
MICRO MARKET REPORT | South Metro livsothebysrealty.com
JANUARY - DECEMBER 2021 • COLORADOMICROREPORTS.COM
BACKCOUNTRY BELL MOUNTAIN RANCH CASTLE PINES
84.6% The average days on market in Backcountry decreased by 84.6% in 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 December
2020
2021
% Change
$1,093,918
$1,424,756
30.2%
$355
$436
22.8%
52
8
-84.6%
$3,000,000
$2,725,000
-9.2%
99
99
0.0%
% Sold Price to List Price
96.1%
100.1%
4.2%
January through December
2020
2021
% Change
$996,928
$1,312,075
31.6%
$361
$463
28.1%
70
39
-44.3%
$1,755,000
$1,910,000
8.8%
26
20
-23.1%
96.6%
94.5%
-2.1%
2020
2021
% Change
$716,498
$902,871
26.0%
$255
$323
26.4%
31
17
-45.2%
$2,500,000
$3,000,000
20.0%
135
156
15.6%
98.1%
101.8%
3.7%
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 December 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
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
$610,141
$731,613
19.9%
$253
$306
21.1%
34
14
-58.8%
$5,500,000
$5,800,000
5.5%
2,137
2,100
-1.7%
98.8%
102.4%
3.7%
2020
2021
% Change
$1,147,273
$1,404,258
22.4%
$285
$336
17.9%
112
31
-72.3%
$2,650,000
$2,650,000
0.0%
22
24
9.1%
91.7%
99.4%
8.4%
2020
2021
% Change
$509,285
$580,214
13.9%
$217
$259
19.5%
35
13
-62.9%
$1,040,000
$1,410,000
35.6%
189
253
33.9%
99.1%
102.4%
3.4%
72.3%
The average days on market in Chaparral/ Chenango decreased by 72.3% in 2021 compared to that of 2020.
CRYSTAL VALLEY
January through December
2021
CHAPARRAL/CHENANGO
January through December
2020
CASTLE ROCK
January through December
EASTRIDGE
January through December Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
FIRELIGHT
FALCON HILLS
% Sold Price to List Price
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.
26.7%
The highest price in Firelight increased by 26.7% in 2021 compared to that of 2020.
January through December Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
January through December Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$541,366
$654,957
21.0%
$268
$318
18.6%
11
6
-45.5%
$895,000
$1,170,000
30.7%
137
116
-15.3%
100.5%
104.8%
4.3%
2020
2021
% Change
$1,238,808
$1,357,500
9.6%
$312
$356
14.1%
49
19
-61.2%
$1,605,000
$1,650,000
2.8%
13
6
-53.8%
95.0%
102.6%
8.1%
2020
2021
% Change
$614,926
$703,496
14.4%
$250
$310
23.9%
19
7
-63.2%
$975,000
$1,235,000
26.7%
116
97
-16.4%
98.9%
104.6%
5.8%
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
$927,200
$1,148,083
23.8%
$335
$395
18.0%
34
17
-50.0%
$1,365,000
$1,475,000
8.1%
10
6
-40.0%
100.4%
102.4%
2.0%
2020
2021
% Change
$815,599
$984,422
20.7%
$263
$331
26.2%
49
7
-85.7%
$1,285,000
$1,600,000
24.5%
18
18
0.0%
97.3%
102.2%
5.0%
2020
2021
% Change
$1,563,465
$1,759,000
12.5%
$340
$450
32.4%
158
67
-57.6%
$1,860,000
$2,500,000
34.4%
5
11
120.0%
89.1%
100.1%
12.4%
85.7%
The average days on market in
Highlands Ranch Golf Club decreased by 85.7% in 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 December
2021
HIGHLANDS RANCH GOLF CLUB
January through December
2020
FOREST PARK
January through December
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 December Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
January through December Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
60.0%
The highest price in Inspiration increased
by 60.0% in 2021 compared to that of 2020.
January through December Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,189,849
$1,485,302
24.8%
$342
$407
19.1%
45
32
-28.9%
$1,989,428
$2,925,000
47.0%
48
56
16.7%
96.3%
99.6%
3.4%
2020
2021
% Change
$604,392
$741,733
22.7%
$274
$332
21.2%
18
6
-66.7%
$3,000,000
$2,725,000
-9.2%
1,678
1,589
-5.3%
99.4%
104.5%
5.1%
2020
2021
% Change
$595,560
$744,639
25.0%
$262
$304
15.7%
97
25
-74.2%
$800,000
$1,280,000
60.0%
115
101
-12.2%
98.1%
100.9%
2.9%
% Change
$1,302,971
$1,576,111
21.0%
$389
$466
19.8%
45
15
-66.7%
$2,550,000
$3,270,000
28.2%
14
18
28.6%
% Sold Price to List Price
95.1%
99.2%
4.3%
January through December
2020
2021
% Change
$799,950
$926,792
15.9%
$302
$352
16.4%
44
11
-75.0%
$4,115,000
$4,350,000
5.7%
95
79
-16.8%
98.4%
102.8%
4.5%
2020
2021
% Change
$918,150
$1,162,194
26.6%
$297
$362
21.8%
39
21
-46.2%
$1,989,428
$2,925,000
47.0%
185
206
11.4%
97.0%
101.4%
4.5%
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 December Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
28.6%
The number of properties sold in Keene Ranch increased by 28.6% in 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
2021
LARKSPUR
2020
KEENE RANCH
January through December
THE MEADOWS PRADERA & TIMBERS RAVENNA
January through December
2020
2021
% Change
$503,551
$611,972
21.5%
$234
$279
19.6%
23
8
-65.2%
$825,000
$1,190,000
44.2%
514
484
-5.8%
99.4%
103.1%
3.7%
2020
2021
% Change
$958,472
$1,167,715
21.8%
$277
$337
21.8%
55
21
-61.8%
$2,500,000
$2,275,000
-9.0%
138
116
-15.9%
% Sold Price to List Price
97.1%
101.1%
4.2%
January through December
2020
2021
% Change
$1,922,468
$2,613,835
36.0%
$686
$749
9.2%
110
112
1.8%
$3,047,125
$4,100,000
34.6%
23
17
-26.1%
99.5%
96.7%
-2.8%
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
61.8%
The average days on market in Pradera & Timbers decreased by 61.8% in 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 December 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
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
$696,686
$854,561
22.7%
$296
$333
12.4%
45
11
-75.6%
$1,400,400
$1,578,500
12.7%
44
41
-6.8%
96.7%
101.6%
5.1%
2020
2021
% Change
$795,584
$939,951
18.1%
$326
$384
17.7%
50
32
-36.0%
$2,400,000
$2,012,896
-16.1%
60
60
0.0%
97.6%
99.7%
2.1%
2020
2021
% Change
$1,233,543
$1,606,667
30.2%
$324
$388
19.8%
81
179
121.0%
$1,875,844
$2,265,000
20.7%
8
6
-25.0%
95.9%
95.6%
-0.2%
75.6%
The average days on market in Ridgegate decreased by 75.6% in 2021 compared to that of 2020.
30.2% The average price in Spirit Ridge increased by 30.2% in 2021 compared to that of 2020.
SPIRIT RIDGE
January through December
2021
ROXBOROUGH PARK
January through December
2020
RIDGEGATE
January through December
WESTRIDGE
2020
2021
% Change
$642,144
$736,578
14.7%
$249
$292
17.3%
80
19
-76.3%
$1,015,000
$1,495,000
47.3%
120
98
-18.3%
% Sold Price to List Price
97.7%
100.6%
2.9%
January through December
2020
2021
% Change
$1,333,543
$1,708,723
28.1%
$382
$496
29.9%
85
42
-50.6%
$5,500,000
$4,295,000
-21.9%
147
117
-20.4%
94.4%
99.8%
5.7%
2020
2021
% Change
$514,753
$633,424
23.1%
$279
$329
17.9%
10
5
-50.0%
$780,000
$1,226,000
57.2%
160
156
-2.5%
100.5%
105.8%
5.3%
Average Price Average Price Per Square Foot Average Days on Market
The highest price in Sterling Ranch
Highest Price
increased by 47.3% in 2021 compared to
Properties Sold
that of 2020.
THE VILLAGE AT CASTLE PINES
STERLING RANCH
47.3%
January through December
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
57.2%
January through December Average Price Average Price Per Square Foot Average Days on Market
The highest price in Westridge increased by
Highest Price
57.2% in 2021 compared to that of 2020.
Properties Sold % 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.
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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 - DECEMBER 2021 • COLORADOMICROREPORTS.COM