QUARTER 1 2022
Micro Market Report SOUTH METRO
6204 Hay Meadow Way
10541 Leonardo Place
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 an abundance of trails in addition to business hubs such as the Denver Tech Center, the South Metro community boasts a oneof-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 Q1 of 2022 compared to the same time frame in 2021. Although the number of new listings on the market decreased slightly by 4.6%, the number of homes sold so far this year has remained steady. Through March, the number of homes sold in Douglas County, which encompasses the South Metro area, experienced a slight decrease of 1.8% totaling 1,558 listings sold. Looking at all South Metro neighborhoods, there was an average appreciation of home prices of 18.2% for all property types during Q1. This increase resulted in a 16.2% increase in total dollar volume sold. Looking at individual neighborhoods within the South Metro community, there were several areas in which the number of homes sold increased during Q1 of this year compared to the same period in 2021. Castle Rock had the most sales, reaching a total of 421 homes sold through March – 17.3% more sales than the previous year. One of the most significant increases in listing sales was seen in Larkspur, where there was a 66.7% increase in the number of homes sold, growing from 15 sales last year to 25 sales this year.
to the same time frame in 2021. For example, The Village at Castle Pines saw a 17.6 % increase in average home prices, which brought the average price to $1,861,380. Highlands Ranch also experienced this trend in appreciating home prices. Listings in this area sold for an average price of $798,194 through Q1 of 2022 – a 15.8% increase from the same period in 2021. Conveniently located near all 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 March
2021
2022
% Change
New Listings
2,047
1,952
-4.6%
Sold Listings (All Properties)
1,587
1,558
-1.8%
Average Price (All Properties)
$669,715
$791,914
18.2%
Average Price (Single Family)
$728,873
$846,218
16.1%
21
17
-19.0%
101.9%
102.9%
1.0%
$1,062,175,870
$1,233,801,628
16.2%
Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold
Counties: Douglas
South Metro’s popularity among homebuyers has created an upward trend in home values within several neighborhoods through March of this year compared 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 - MARCH 2022 • COLORADOMICROREPORTS.COM
BACKCOUNTRY BELL MOUNTAIN RANCH CASTLE PINES
47.4% The number of properties sold in Backcountry decreased by 47.4%
January through March Average Price Average Price Per Square Foot Average Days on Market Highest Price
2021
2022
% Change
$1,334,205
$1,596,990
19.7%
$377
$496
31.8%
6
10
66.7%
$2,705,000
$2,360,000
-12.8%
19
10
-47.4%
in the first quarter of 2022 compared to
Properties Sold
that of 2021.
% Sold Price to List Price
101.5%
102.8%
1.2%
January through March
2021
2022
% Change
$1,103,800
$1,468,333
33.0%
$414
$434
4.8%
17
25
47.1%
$1,305,000
$1,675,000
28.4%
5
3
-40.0%
% Sold Price to List Price
97.9%
96.0%
-1.9%
January through March
2021
2022
% Change
$802,075
$1,095,213
36.5%
$290
$388
33.6%
22
17
-22.7%
$1,880,000
$2,299,341
22.3%
64
54
-15.6%
101.0%
105.4%
4.3%
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.
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
% Change
$706,162
$791,746
12.1%
$283
$341
20.2%
21
17
-19.0%
$3,725,000
$3,800,000
2.0%
359
421
17.3%
% Sold Price to List Price
102.1%
103.9%
1.7%
January through March
2021
2022
% Change
$1,197,000
$1,441,667
20.4%
$273
$417
52.6%
77
9
-88.3%
$1,765,000
$1,575,000
-10.8%
7
3
-57.1%
% Sold Price to List Price
94.3%
98.8%
4.8%
January through March
2021
2022
% Change
$532,260
$635,338
19.4%
$231
$288
24.5%
16
23
43.8%
$740,000
$1,195,000
61.5%
69
78
13.0%
102.3%
101.3%
-1.0%
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
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
88.3%
The average days on market in Chaparral/ Chenango decreased by 88.3% in the first quarter of 2022 compared to that of 2021.
CRYSTAL VALLEY
2022
CHAPARRAL/CHENANGO
2021
CASTLE ROCK
January through March
FIRELIGHT
FALCON HILLS
EASTRIDGE
January through March
2021
2022
% Change
$586,025
$698,116
19.1%
$296
$388
30.9%
4
13
225.0%
$825,000
$900,836
9.2%
20
15
-25.0%
% Sold Price to List Price
104.7%
105.5%
0.8%
January through March
2021
2022
% Change
$1,102,500
$2,250,000
104.1%
$276
$453
64.5%
51
4
-92.2%
$1,225,000
$2,250,000
83.7%
2
1
-50.0%
% Sold Price to List Price
94.6%
112.5%
18.9%
January through March
2021
2022
% Change
$654,095
$822,981
25.8%
$287
$350
22.1%
8
5
-37.5%
$821,000
$1,300,000
58.3%
21
23
9.5%
104.0%
105.5%
1.5%
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
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.
25.8%
The highest price in Firelight increased by 25.8% in the first quarter of 2022 compared to that of 2021.
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
% Change
Average Price
-
-
-
Average Price Per Square Foot
-
-
-
Average Days on Market
-
-
-
Highest Price
-
-
-
No Sales
No Sales
-
% Sold Price to List Price
-
-
-
January through March
2021
2022
% Change
$805,000
$1,415,000
75.8%
$297
$440
48.3%
5
4
-20.0%
$860,000
$1,675,000
94.8%
2
3
50.0%
% Sold Price to List Price
100.0%
110.6%
10.6%
January through March
2021
2022
% Change
$1,550,000
-
-
$373
-
-
272
-
-
$1,550,000
-
-
1
No Sales
-
88.6%
-
-
Properties Sold
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
75.8%
The average home price in Highlands Ranch Golf Club increased by 75.8%
in the first quarter of 2022 compared to that of 2021.
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
2022
HIGHLANDS RANCH GOLF CLUB
2021
FOREST PARK
January through March
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 March
2021
2022
% Change
$1,372,600
$1,497,148
9.1%
$387
$443
14.5%
69
2
-97.1%
$1,740,000
$2,055,000
18.1%
10
6
-40.0%
% Sold Price to List Price
99.6%
102.2%
2.6%
January through March
2021
2022
% Change
$689,229
$798,194
15.8%
$309
$382
23.7%
5
8
60.0%
$2,705,000
$2,360,000
-12.8%
272
243
-10.7%
% Sold Price to List Price
104.7%
106.2%
1.4%
January through March
2021
2022
% Change
$640,906
$815,371
27.2%
$273
$316
15.7%
58
28
-51.7%
$890,000
$1,050,000
18.0%
19
24
26.3%
101.3%
98.6%
-2.7%
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
51.7%
The average number of days on market in
Inspiration decreased by 51.7% in the first quarter of 2022 compared to that of 2021.
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
29.5%
2021
2022
% Change
$1,586,250
$1,775,500
11.9%
$410
$532
29.5%
4
26
550.0%
$2,250,000
$2,892,000
28.5%
4
4
0.0%
Keene Ranch increased by 29.5% in the
% Sold Price to List Price
102.9%
94.3%
-8.4%
first quarter of 2022 compared to that
January through March
2021
2022
% Change
$898,436
$1,294,711
44.1%
$380
$410
7.8%
7
33
371.4%
$1,375,000
$4,495,000
226.9%
15
25
66.7%
% Sold Price to List Price
103.6%
100.3%
-3.2%
January through March
2021
2022
% Change
$1,096,025
$1,223,280
11.6%
$334
$406
21.5%
39
7
-82.1%
$1,740,000
$2,055,000
18.1%
40
27
-32.5%
99.5%
103.8%
4.3%
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
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
of 2021.
LARKSPUR
Average Price
The average price per square foot in
KEENE RANCH
January through March
THE MEADOWS PRADERA & TIMBERS RAVENNA
January through March
2021
2022
% Change
$549,554
$689,524
25.5%
$267
$332
24.3%
7
5
-28.6%
$850,000
$1,300,000
52.9%
79
81
2.5%
% Sold Price to List Price
103.1%
105.6%
2.4%
January through March
2021
2022
% Change
$1,015,053
$1,363,058
34.3%
$291
$430
47.9%
34
21
-38.2%
$1,900,000
$2,450,000
28.9%
22
23
4.5%
% Sold Price to List Price
100.5%
102.2%
1.8%
January through March
2021
2022
% Change
$2,121,167
$1,912,500
-9.8%
$623
$854
37.2%
196
90
-54.1%
$3,150,000
$1,925,000
-38.9%
6
2
-66.7%
94.2%
102.1%
8.3%
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
47.9%
The average price per square foot in
Pradera & Timbers increased by 47.9% in the first quarter of 2022 compared to that of 2021.
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.
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
% Change
$569,750
$901,367
58.2%
$323
$346
7.0%
4
8
100.0%
$701,000
$1,257,000
79.3%
4
9
125.0%
% Sold Price to List Price
101.5%
102.9%
1.4%
January through March
2021
2022
% Change
$1,023,818
$849,798
-17.0%
$381
$452
18.7%
84
5
-94.0%
$1,581,000
$1,285,000
-18.7%
11
7
-36.4%
% Sold Price to List Price
97.6%
101.3%
3.7%
January through March
2021
2022
% Change
$1,391,667
-
-
$325
-
-
352
-
-
$1,500,000
-
-
3
No Sales
-
86.5%
-
-
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
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
58.2%
The average home price in Ridgegate
increased by 58.2% in the first quarter of 2022 compared to that of 2021.
The small town of Roxborough Park lies between Chatfield State Park and Roxbourough State Park. Situated at the base of the foothills, Roxborough Park provides views of natural rock formations as well as the Rocky Mountains.
SPIRIT RIDGE
2022
ROXBOROUGH PARK
2021
RIDGEGATE
January through March
STERLING RANCH WESTRIDGE
THE VILLAGE AT CASTLE PINES
Sterling Ranch is a masterplanned community located just four miles south of C-470 and one mile west of Santa Fe in Littleton. Sterling Ranch offers new homes with state-of-the-art technologies and sustainable resources.
January through March
2021
2022
% Change
$679,777
$770,064
13.3%
$267
$317
18.7%
23
21
-8.7%
$871,200
$1,036,310
19.0%
18
22
22.2%
% Sold Price to List Price
101.3%
100.5%
-0.8%
January through March
2021
2022
% Change
$1,583,056
$1,861,380
17.6%
$445
$546
22.7%
54
19
-64.8%
$3,725,000
$3,800,000
2.0%
25
20
-20.0%
% Sold Price to List Price
98.4%
101.8%
3.4%
January through March
2021
2022
% Change
$574,310
$710,824
23.8%
$311
$384
23.3%
5
5
0.0%
$821,000
$962,000
17.2%
25
17
-32.0%
105.5%
109.8%
4.0%
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
23.8%
The average home price in Westridge
increased by 23.8% in the first quarter of 2022 compared to that of 2021.
Average Price Average Price Per Square Foot Average Days on Market Highest Price 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
04
NATIONAL PARKS
07
MOUNTAIN RANGES
28
SKI AREAS & RESORTS
WHY COLORADO?
300
AVG DAYS OF SUNSHINE ANNUALY
350+ CRAFT BREWERIES
MICRO MARKET REPORT | South Metro JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM