South Metro | Q1 2020
The South Metro communities found in Douglas County are a lively collection of neighborhoods that are becoming a hub for business, shopping, and entertainment outside of downtown Denver. A short drive down I-25 South will land you in some South Metro beautiful neighborhoods such as The Village at Castle Pines, Castle Rock, Highlands Ranch, and Lone Tree. These towns are home to spacious subdivisions, landmark developments, and plenty of new construction. The continual growth and evolution of this area ensure that the real estate market will remain strong.
LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance during Q1 of 2020 compared to that of 2019. Douglas County as a whole saw an impressive 24.2.%increase in the number of new listings, met with a 34.7% increase in number of sold listings. Of the 29 neighborhoods that make up South Metro, many saw increases in home prices. Forest Park saw the largest increase in average price during Q1, rising by 43.9% compared to Q1 of 2019. The average price for homes in this area through March of this year was $822,625.
The number of properties sold grew in several communities as well. By far the most notable increase was seen in Pradera and Timbers. In a comparison of Q1 performances from 2020 to 2019, there were 100% more listings sold in Pradera and Timbers this year, when 26 homes were sold, compared to the 13 homes sold in 2019.
Homes in Ridgegate experienced a notable decrease in the average days on market during Q1 of this year. The neighborhood saw a 42.3% drop in the average time a home spent on the market, bringing the average to just 45 days.
South Metro is quickly becoming one of the more popular communities in the area to call home. With new homes, businesses, and entertainment options being added to the neighborhoods frequently, it’s no wonder homebuyers are jumping at the opportunity to buy and sell property in these neighborhoods.
This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Backcountry, Bell Mountain Ranch, Broadmoor, Castle Pines, Castle Pines Village, Castle Rock, Colorado Springs, Diamond Ridge, Firelight, Highlands Ranch, Inverness, Keene Ranch, Larkspur, Lone Tree, Parker, Pradera & Timbers, Sedalia, and The Meadows.