South Metro – Year End 2018
Denver’s South Metro is home to many influential neighborhoods including The Village Castle Pines, 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 added amenities.
LIV Sotheby’s International Realty’s South Metro report includes many notable highlights for the area, comparing 2018 to 2017 metrics. Impressively, Keene Ranch increased 19.6% in average price from $987,454 in 2017 to $1,181,365 in 2018. Many other neighborhoods also saw exciting increases in average price including: Backcountry with a 13.9% increase, Bell Mountain Ranch with a 13.2% increase, Castle Pines with a 14.6% increase, and Larkspur with a 14.9% increase.
An increase in demand and draw to the South Metro area also increases competition, which decreases the average days on market. Six neighborhoods saw a decrease of at least 20% in average days on market compared to 2017. Pradera & Timbers saw the largest decrease of 52.2% in average days on market, landing at 44 days in 2018. Lone Tree reported a decrease of 29.5% average days on market, with a noteworthy 31 days in 2018.
The South Metro neighborhoods offer a unique and desirable Colorado lifestyle with many surrounding attractions. Overall, many South Metro neighborhoods saw increases in average price and decreases in average days on market, indicating a very healthy and active real estate market for the area.
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.