South Metro | Q3 2020
South of Denver, Douglas County is home to a collection of neighborhoods that offer a laid-back lifestyle, ample options for shopping, dining, and exciting new businesses. The communities within South Metro such as The Village at Castle Pines, Castle Rock, Highlands Ranch, and Lone Tree are home to great neighborhoods with iconic developments, new construction, and plenty of opportunities for homebuyers and sellers to achieve their real estate goals. With many homebuyers looking for city-like amenities with more space, the South Metro real estate market has been buzzing with buying and selling activity.
LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance from January through September of 2020 to the same time frame in 2019. Overall, Douglas County saw a 9.6% increase in sold listings through Q3 of this year. Additionally, the average price for homes in this highly sought-after community rose by 4%, from $554,900 through Q3 in 2019 to $577,012 during the same period of time in 2020. Both of these increases contributed to the 14% boost in total dollar volume sold, which totaled $3,809,434,985 through September.
Of the 27 neighborhoods that make up South Metro, many experienced a rise in the amount of homes sold. Falcon Hills saw an impressive 100% increase in properties sold, growing from five homes sold through September of 2019 to 10 homes sold so far this year. Other communities that had increases in listings sold include Highlands Ranch (+7.2%), Castle Rock (+11.9%), and The Village at Castle Pines (+13.5%), to name a few.
Several individual communities saw an increase in the average prices of homes through September of this year. The most significant increase in average price was seen in Spirit Ridge, where prices rose by 14.3%, making the average price for homes in the area $1,284,724.
Homebuyers are proving to be very motivated so far in 2020 with many areas decreasing in the average days homes spent on the market. In Keene Ranch, homes sold in an average of 39 days, a 67.2% drop from 2019 when the average days on market in this neighborhood was 119 days. Castle Rock also experienced quicker sales, with an average days on market of just 27 days, a 22.9% decrease from last year.
South Metro is home to an assortment of neighborhoods with enough fun happenings, businesses opportunities, and space for consumers of all kinds. Here, sellers can find success and buyers can create a new beginning in the real estate market.
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.