South Metro | Year End 2019
Just down the road from Denver are the thriving neighborhoods of South Metro found in Douglas County. This area is quickly becoming one of the most popular places for shopping, dining, entertainment, and business. Communities within South Metro like 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.
LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance during 2019 compared to that of 2018. Douglas County reported positive activity in its real estate market throughout 2019 including a 4.8% increase in new listings and a 5.7% rise in total dollar volume sold. Additionally, 2.9% more homes in Douglas County sold in 2019 than 2018.
Of the 18 neighborhoods that make up South Metro, many saw increases in home prices. Lone Tree had the highest increase in home prices over the last year. Homes in this area rose in price by 28.2% since 2018, making the average price for a home $873,140.
The number of properties sold grew in several communities as well. By far the most notable increase was seen in Backcountry. In a comparison from 2018 to 2019, there were 56.8% more listings sold in Backcountry in 2019. The Meadows also increased in sold listings during 2019. This community near Castle Rock has 24 miles of trails and contains 1,100 acres of parks as well as land for public use, had a 21.2% increase in properties sold.
Homes in South Metro are going more quickly in some areas than others. The average days on market for listings in Bell Mountain Ranch dropped by 35.4% making the average days on market for houses in this area 102 days during 2019. The Village at Castle Pines also appears to be a high demand area as the average days on market decreased in this community as well. The average time a home spent on the market in 2019 was 93 days, a 34% reduction from when the average was 141 days in 2018.
Growing popularity and the addition of more entertainment options are attracting more people to this area and fueling a very active real estate market in the South Metro.
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.