MICROMARKET REPORT |
South Metro • 2018
SOUTH METRO NEIGHBORHOODS 1.
Highlands Ranch
2. Backcountry 1
2
4 15
3
5
3.
Firelight/Highlands Ranch
4.
Lone Tree
5.
Castle Pines
6.
Castle Pines Village
7. Sedalia 6
14
8.
The Meadows
9.
Keene Ranch
7
8
13
10. Larkspur 11.
Bell Mountain Ranch
12
12. Castle Rock 9 11
10
13.
Diamond Ridge
14.
Pradera & Timbers
15. Parker
Pictured on cover: 251 Stone Pointe Trail, Castle Rock
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SOUTH METRO market update The South Denver metro region is comprised of influential areas, including; Highlands Ranch, Parker, Lone Tree, and Castle Rock, covering major parts of the southern I-25 corridor. Denver South is home to two universities; the University of Colorado South Denver and the Regis University Denver Tech Center Campus, and houses the country’s second busiest general aviation airport and seven of Colorado’s ten Fortune 500 Companies. South Metro Denver draws residents and families to the area that seek proximity to amenities and employment opportunities, without sacrificing access to the outdoor recreation. The South metro corridor is home to the spectacular scenery, parks, national forests, and open space Colorado is known for, and despite the suburban areas’ fast growth over the last 15 years, the region has permanently preserved over 50,000 acres of natural open space, guaranteeing future generations the same beautiful views and abundance of wildlife only Colorado can offer. Residential offerings within South Denver metro include expansive condominium complexes featuring mountain vistas, and beautiful, single family homes overlooking vast open spaces. Home to many fine golf courses, residences within the South Denver metro region see consistent price appreciation, due to residents’ continued desire for golf lifestyle-inspired home purchases. From January through December 2017, the average price per square foot in Castle Pines Village increased by 13.4%, year-over-year. In Castle Rock, home to premium, outdoor outlet shopping, the average price per square foot increased 10% in January through December 2017, compared to that of 2016. With the variety of quality living options the South Denver metro area affords, residents will continue to be drawn to the region, and real estate values will likely continue to rise.
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January-December 2017 Highlights: • Castle Rock’s average price is $412,591
5.2%
• Diamond Ridge’s average price is $1,013,650
8.1%
• Lone Tree’s average price is $742,908
10.9%
• Pradera & Timber’s average price is $823,512
7.0%
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 2018 • COLORADOMICROREPORTS.COM
BACKCOUNTRY January through December Average Price
2016
$1,018,728
11.9%
$267
$294
10.1%
53
76
43.4%
$3,100,000
$2,200,000
-29.0%
44
55
25.0%
95.0%
94.0%
-1.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$910,557
Average Price per Square Foot
Highest Price
2017
BELL MOUNTAIN RANCH January through December
2016
Average Price
$804,806
$796,325
-1.1%
$284
$294
3.5%
94
138
46.8%
$1,200,000
$967,500
-19.4%
20
16
-20.0%
94.1%
94.6%
0.6%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
% Change
3.5%
January through December 2017, the average price per square foot in the neighborhood of Bell Mountain Ranch increased by 3.5% compared to that of 2016.
CASTLE PINES January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$579,789
$601,828
3.8%
$209
$221
5.7%
57
50
-12.3%
$1,465,000
$1,400,000
-4.4%
110
125
13.6%
95.0%
96.5%
1.6%
coloradomicroreports.com
CASTLE PINES VILLAGE January through December Average Price
Castle Pines, located just 20 miles south of Denver, offers its residents the perfect balance of open space and urban living.
2016
$1,201,645
13.4%
$306
$332
8.6%
135
159
17.8%
$3,900,000
$4,800,000
23.1%
107
122
14.0%
93.5%
92.3%
-1.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$1,060,040
Average Price per Square Foot
Highest Price
2017
CASTLE ROCK January through December Average Price
2016
$412,591
5.2%
$198
$217
10.0%
38
34
-10.5%
$1,895,000
$1,435,000
-24.3%
414
429
3.6%
98.8%
98.7%
-0.1%
Average Days on Market
Properties Sold % Sold Price to List Price
4.5%
January through December 2017, the average price per square foot in Diamond Ridge increased by 4.5% compared to that of 2016.
% Change
$392,113
Average Price per Square Foot
Highest Price
2017
DIAMOND RIDGE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$938,025
$1,013,650
8.1%
$274
$287
4.5%
148
118
-20.3%
$1,400,000
$1,720,000
22.9%
10
10
0.0%
92.1%
96.0%
4.3%
MICROMARKET REPORT | South Metro livsothebysrealty.com
2018 • COLORADOMICROREPORTS.COM
FIRELIGHT/HIGHLANDS RANCH January through December Average Price
2016
$529,585
1.7%
$205
$214
4.6%
28
25
-10.7%
$750,000
$925,000
23.3%
53
55
3.8%
97.9%
98.4%
0.5%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$520,952
Average Price per Square Foot
Highest Price
2017
4.6%
The average price per square foot in Firelight increased by 4.6% January through December 2017 compared to that of 2016.
HIGHLANDS RANCH January through December Average Price
2016
$483,362
4.7%
$221
$238
7.7%
22
19
-13.6%
$2,604,938
$3,210,647
23.3%
689
625
-9.3%
98.8%
99.2%
0.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$461,832
Average Price per Square Foot
Highest Price
2017
KEENE RANCH January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$922,503
$987,454
7.0%
$283
$324
14.6%
79
69
-12.7%
$1,285,000
$1,247,400
-2.9%
17
10
-41.2%
96.8%
95.5%
-1.3%
14.6%
The average price per square foot in Keene Ranch increased by 14.6% January through December 2017 compared to that of 2016.
coloradomicroreports.com
LARKSPUR January through December Average Price
2016
$626,306
4.7%
$238
$254
6.8%
104
82
-21.2%
$3,200,000
$2,719,200
-15.0%
101
120
18.8%
95.7%
97.4%
1.7%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$598,415
Average Price per Square Foot
Highest Price
2017
LONE TREE Lone Tree is home to the Lone Tree Arts Center, which houses a 255 seat event hall for intimate performances, and a 350 seat outdoor terrace theatre.
January through December
2016
Average Price
$669,800
$742,908
10.9%
$224
$240
6.8%
65
44
-32.3%
$1,655,000
$2,600,000
57.1%
53
47
-11.3%
96.4%
95.7%
-0.8%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
% Change
THE MEADOWS January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$419,744
$447,515
6.6%
$190
$202
6.2%
38
26
-31.6%
$720,000
$895,300
24.3%
500
431
-13.8%
98.0%
98.5%
0.6%
MICROMARKET REPORT | South Metro livsothebysrealty.com
2018 • COLORADOMICROREPORTS.COM
PARKER January through December Average Price
2016
$483,337
15.8%
$207
$224
8.4%
38
33
-13.2%
$2,600,000
$3,500,000
34.6%
2,421
2,465
1.8%
99.7%
99.7%
0.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$417,500
Average Price per Square Foot
Highest Price
2017
15.8%
The average price in Parker increased by 15.8% January through December 2017 compared to that of 2016.
PRADERA & TIMBERS January through December Average Price
2016
$823,512
7.0%
$224
$250
11.6%
97
92
-5.2%
$1,720,000
$2,093,000
21.7%
109
121
11.0%
96.5%
95.1%
-1.5%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$769,501
Average Price per Square Foot
Highest Price
2017
SEDALIA January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$751,677
$709,791
-5.6%
$337
$274
-18.9%
113
88
-22.1%
$2,850,000
$2,800,000
-1.8%
30
32
6.7%
89.0%
93.0%
4.5%
6.7%
The number of properties sold in Sedalia increased by 6.7% January through December 2017 compared to that of 2016.
coloradomicroreports.com
WHY COLORADO?
NATIONAL PARKS: 7
MOUNTAIN RANGES: 7
AVERAGE DAYS OF SUNSHINE ANNUALLY: 300
SKI RESORTS: 25
CRAFT BREWERIES: 312+
LIV SOTHEBY’S INTERNATIONAL REALTY
RESIDENTIAL LUXURY REPORT
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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.