South Metro | Mid-Year 2020
Douglas County, home to the ever-evolving South Metro communities, is a collection of neighborhoods that are making their mark on Colorado. The shopping, dining, and entertainment options found here almost rival that of Denver. Pent up demand for homes in this community that had been building up throughout the spring when limited real estate activity inhibited many consumers from buying and selling homes has resulted in many positive increases throughout the area’s housing market.
LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance from January through June of 2020 to the same time frame in 2019. Overall, homes in Douglas County saw a 1.7% increase in average price, rising to $565,139 so far this year compared to 2019 when the average price was $555,720. It is also important to note that despite the lack of real estate activity in March and most of April due to the pandemic, the total dollar volume sold is only down 2.9% from 2019 levels.
Of the 29 neighborhoods that make up South Metro, many saw increases in home prices. Falcon Hills saw the largest increase in average price through June, rising by 22.3% compared to the same time period in 2019. The average price for homes in this area so far this year is $1,341,667. Many other communities also saw increases including Castle Rock and Colorado Springs which experienced rises in average prices by 10.1% and 8.1% respectively.
Several neighborhoods within the South Metro community had an increase in the number of properties sold. Falcon Hills saw a 100% increase in properties sold through June of this year compared to January through June of 2019, from three sales in 2019 to six sales so far in 2020. The number of home sales in Raveena also climbed a notable amount, increasing by 22.2%, from nine homes sold in Q1 and Q2 of 2019 to 11 homes sold during the same time in 2020.
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.