South Metro – Quarter 3 2019
Denver’s South Metro contains some of the most desirable neighborhoods in the Denver area. This region provides access to shopping, restaurants, and outdoor activities. Some of the communities within this area include The Village at Castle Pines, Castle Rock, Highlands Ranch, and Broadmoor. This region is also home to a major business hub, the Denver Technological Center, better known to locals as the Denver Tech Center or DTC. With no shortage of things to do, places to work and beautiful homes to live in, South Metro has something for everyone.
LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance for January through September 2019 compared to that of 2018. Of the 16 neighborhoods that make up South Metro, many saw increases in home prices. Pradera and Timbers had one of the largest rises in home prices with an impressive 15.3% increase. Homes in these neighborhoods average approximately $941,067 as compared it $815,962 in 2018.
Some neighborhoods experienced an increase in properties sold, proving once again that South Metro is a popular place to buy a home. Homebuying activity in Keene Ranch grew by 28.6%, with 7 homes sold through Q3 of this year in comparison to 9 homes during the same time frame in 2018.
In addition to the amount of homes sold, some neighborhoods also saw a decrease in the average days on market. The Village at Castle Pines’ days on market shrunk by -31.9%, making the current days on market average just 94 days for Q1 through Q3 of this year, compared to 138 days in the same time period in 2018.
With many communities seeing increased activity, more frequent sales, and shorter days on the market, the report indicates that South Metro neighborhoods continue to be a high-demand area to live in.
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.