South Metro – Quarter 3 2018
Denver’s South Metro area is home to many influential neighborhoods including Castle Pines Village, 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 appreciated amenities.
Highlights from LIV Sotheby’s International Realty’s report comparing January through September of 2018 to 2017 include average price increases of over 10% for Backcountry, Bell Mountain Ranch, Castle Pines, Colorado Springs, Keene Ranch, and Larkspur. Keene Ranch reported the highest average price increase of 19.2% to $1,177,143 in 2018. Average days on market decreased for many areas including an over 20% decrease for Broadmoor, Firelight, Highlands Ranch, Inverness, Pradera & Timbers, and Sedalia. Castle Rock reported an impressive increase of highest price by 109% in 2018 to $2,300,000.
The South Metro neighborhoods offer a unique and desirable Colorado lifestyle. For buyers, prices remain competitive in this area with the overall percentage of sold-price to list-price remaining relatively similar to 2017. For sellers, attraction continues to rise for this area and buyers are prepared to move quick for a majority of the 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.