South Metro Market Reports | Year End 2021

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.

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

MICRO MARKET REPORT | South Metro JANUARY - DECEMBER 2021 • COLORADOMICROREPORTS.COM