MICROMARKET REPORT |
South Metro • Quarter 1 2019
SOUTH METRO NEIGHBORHOODS 1. Inverness 2.
3. Backcountry
1 2
5
3
Highlands Ranch
6
4
4.
Firelight/Highlands Ranch
5.
Lone Tree
6. Parker 7
8 9
7.
Castle Pines
8.
The Village Castle Pines
9.
Pradera & Timbers
10. Sedalia
10
11 12
13
11.
The Meadows
12.
Diamond Ridge
13.
Castle Rock
14.
Keene Ranch
15. Bell Mountain Ranch 14 15
16. Larkspur 17. Broadmoor
17
16
18
18.
Colorado Springs
Pictured on cover: 4 Elk Pointe Lane, Castle Rock
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 market update Denver’s South Metro is home to many influential neighborhoods including The Village Castle Pines, Castle Rock, Highlands Ranch, Broadmoor, and more. Covering the southern I-25 corridor, South Metro also features the prominent Denver Tech Center with numerous Fortune 500 companies, Centennial Airport, plentiful shopping destinations, renowned golf courses, recreational activities, and an abundance of restaurants. Living in South Metro provides residents easy access to parks, scenery, national forests, and the open space that Colorado is known for. Homes within these neighborhoods often feature large lots with expansive views or condominiums with added amenities. LIV Sotheby’s International Realty’s South Metro Micro Market Report includes many notable highlights for the area, comparing Q1 of 2019 to Q1 of 2018. The most impressive was displayed in Sedalia with a 131.3% increase in average price to $1,070,300 in 2019, from $462,640 in 2018. Another significant increase in average price was shown in Pradera & Timbers with a 50.7% increase in 2019 to $1,037,131, from $688,245 in 2018. Proving to be an active and competitive area of the state, many areas also reported exciting increases in the number of properties sold for 2019. Highlands Ranch increased by 170.9% for properties sold to 279 in Q1 of 2019, from 103 in Q1 of 2018. Castle Pines also increased by an outstanding 76.9% to 23 properties sold in 2019, from 13 properties sold in 2018. The South Metro neighborhoods offer a unique and desirable Colorado lifestyle with many surrounding attractions. Overall, many South Metro neighborhoods saw increases in both average price and number of properties sold, indicating a very healthy and active real estate market.
livsothebysrealty.com
Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2018 through December 31, 2018. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.
January - March 2019 Highlights: • Sedalia’s average price is $1,070,300
131.3%
• Castle Rock’s average price is $488,270
16.9%
• Keene Ranch’s average price is $1,183,750
24.4%
• Pradera & Timbers average price is $1,037,131
50.7%
MICROMARKET REPORT | South Metro 2019 • COLORADOMICROREPORTS.COM
BACKCOUNTRY January through March
2018
2019
Average Price
$1,335,727
$1,073,121
-19.7%
$333
$319
-4.2%
89
55
-38.2%
$2,550,000
$2,601,833
2.0%
15
21
40.0%
99.0%
96.6%
-2.4%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
10845 Rainribbon Road, Backcountry
BELL MOUNTAIN RANCH January through March Average Price
2018
$909,583
18.6%
$302
$361
19.4%
208
89
-57.2%
$879,000
$1,640,000
86.6%
2
6
200.0%
97.4%
95.7%
-1.8%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$767,000
Average Price per Square Foot
Highest Price
2019
57.2%
January through March 2019, the average day on market for the neighborhood of Bell Mountain Ranch decreased by 57.2% compared to that of 2018.
BROADMOOR/CO SPRINGS January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$925,932
$801,911
-13.4%
$196
$199
1.5%
184
145
-21.2%
$1,377,500
$1,030,000
-25.2%
7
4
-42.9%
111.0%
95.6%
-13.9%
coloradomicroreports.com
CASTLE PINES January through March Average Price
Castle Pines, located just 20 miles south of Denver, offers its residents the perfect balance of open space and urban living.
2018
$668,768
11.2%
$245
$239
-2.6%
95
58
-38.9%
$899,000
$1,350,000
50.2%
13
23
76.9%
97.5%
98.0%
0.6%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$601,423
Average Price per Square Foot
Highest Price
2019
THE VILLAGE CASTLE PINES January through March
2018
2019
Average Price
$1,209,452
$1,326,313
9.7%
$334
$403
20.7%
246
119
-51.6%
$2,600,000
$2,540,000
-2.3%
21
25
19.0%
92.9%
97.1%
4.5%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
1160 Buffalo Ridge Road, The Village Castle Pines
16.9%
January through March 2019, the average price in Castle Rock increased by 16.9% compared to that of 2018.
CASTLE ROCK January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$417,730
$488,270
16.9%
$232
$221
-4.9%
44
63
43.2%
$930,000
$1,785,000
91.9%
85
70
-17.6%
98.8%
98.7%
-0.1%
MICROMARKET REPORT | South Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
COLORADO SPRINGS January through March Average Price
2018
$348,708
9.7%
$140
$153
9.0%
90
41
-54.4%
$2,950,000
$1,975,000
-33.1%
3,541
3,459
-2.3%
99.8%
99.4%
-0.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$317,794
Average Price per Square Foot
Highest Price
2019
4915 Canyon Meadows View, Colorado Springs
FIRELIGHT/HIGHLANDS January through March Average Price
2018
$564,400
-1.5%
$233
$239
2.6%
15
46
206.7%
$801,000
$715,000
-10.7%
10
6
-40.0%
99.6%
100.0%
0.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$572,860
Average Price per Square Foot
Highest Price
2019
2.6%
January through March 2019, the average price in the neighborhood of Firelight/Highlands increased by 2.6% compared to that of 2018.
HIGHLANDS RANCH January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$519,666
$570,940
9.9%
$248
$261
5.1%
17
32
88.2%
$2,405,000
$4,595,032
91.1%
103
279
170.9%
100.3%
98.0%
-2.3%
Highlands Ranch is located 12 miles south of Denver in Douglas County and offers a wonderful quality of life and opportunities for an active lifestyle.
coloradomicroreports.com
INVERNESS January through March Average Price
2018
$496,988
20.7%
$310
$313
1.0%
24
26
8.3%
$525,000
$675,000
28.6%
11
8
-27.3%
98.7%
97.8%
-0.9%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$411,636
Average Price per Square Foot
Highest Price
2019
KEENE RANCH January through March Average Price
Keene Ranch is nestled at the base of Dawson Butte with the vast Front Range of the Rocky Mountains in the background. Residents can easily commute to Denver or Colorado Springs.
2018
$1,183,750
24.4%
$320
$378
18.0%
133
97
-27.1%
$1,200,000
$1,500,000
25.0%
4
4
0.0%
85.0%
92.1%
8.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$951,250
Average Price per Square Foot
Highest Price
2019
LARKSPUR January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$629,920
$729,596
15.8%
$282
$269
-4.6%
104
89
-14.4%
$880,000
$1,675,000
90.3%
21
14
-33.3%
97.3%
97.0%
-0.3%
4409 Triple Eagle Trail, Larkspur
MICROMARKET REPORT | South Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
LONE TREE January through March
2018
Average Price
$945,619
14.6%
$280
$319
13.9%
68
44
-35.3%
$1,500,000
$2,175,000
45.0%
54
33
-38.9%
97.10%
97.00%
-0.1%
Average Days on Market
Properties Sold % Sold Price to List Price
13.9%
% Change
$825,028
Average Price per Square Foot
Highest Price
2019
The average price per square foot in Lone Tree increased by 13.9% January through March 2019 compared to that of 2018.
THE MEADOWS January through March
2018
Average Price
$466,800
$456,299
-2.2%
$214
$223
4.4%
27
64
137.0%
$750,000
$681,655
-9.1%
83
100
20.5%
99.2%
98.0%
-1.2%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
20.5%
% Change
The properties sold in The Meadows increased by 20.5% January through March 2019 compared to that of 2018.
PARKER January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$498,354
$497,785
-0.1%
$235
$240
2.2%
38
58
52.6%
$1,950,000
$1,900,000
-2.6%
445
428
-3.8%
99.0%
97.8%
-1.3% 7221 Prairie Star Court, Parker
coloradomicroreports.com
PRADERA & TIMBERS January through March Average Price
Pradera & Timbers situated beautifully in the rolling countryside between Parker and Castle Rock, offers residences sweeping views and year-round recreational activities.
2018
$1,037,131
50.7%
$241
261
8.1%
41
210
412.2%
$1,065,000
$1,900,000
78.4%
21
14
-33.3%
97.9%
94.0%
-4.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$688,245
Average Price per Square Foot
Highest Price
2019
SEDALIA January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$462,640
$1,070,300
131.3%
$239
$388
62.5%
57
103
80.7%
$757,500
$2,210,000
191.7%
10
8
-20.0%
96.0%
92.0%
-4.1%
334 Tweet Place, Sedalia
MICROMARKET REPORT | South Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
WHY COLORADO?
NATIONAL PARKS: 4
MOUNTAIN RANGES: 7
AVERAGE DAYS OF SUNSHINE ANNUALLY: 300
SKI AREAS & RESORTS: 28
CRAFT BREWERIES: 350+
The life you love.
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. Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2018 through December 31, 2018. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.