South Metro – Mid-Year 2019
Featuring some of the Denver area’s most influential neighborhoods, Denver’s South Metro is home to many sought-after communities including The Village Castle Pines, Castle Rock, Highlands Ranch, and Broadmoor – to name a few. Spanning along the southern I-25 corridor, South Metro is also home to the Denver Technological Center (better known as the Denver Tech Center or DTC) which is the location for numerous Fortune 500 companies. South Metro provides a lifestyle of ease with the inclusion of the Centennial Airport, plentiful shopping destinations, renowned golf courses, recreational activities, and an abundance of restaurants.
As an attractive destination for many to call home, residents of South Metro will enjoy nearby parks, scenery, national forests, and the open space that Colorado is known for. Properties within these neighborhoods often feature large lots with expansive views or condominiums with added amenities.
LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance for January through June 2019 compared to that of 2018. The Mid-Year Report proves an increase in activity, especially for the number of properties sold. Broadmoor reported a 39.3% increase in properties sold to 85 properties January through June of 2019, from 61 during the same time frame of 2018. Backcountry also reported a similar increase in properties sold by 39% to 57 properties sold in 2019, from 41 in 2018. In addition to an increase in properties sold, average price also increased in some areas including a 13.4% increase in average price for Sedalia to $864,945 in 2019, from $762,917 in 2018.
Overall, many South Metro neighborhoods reported increases in both average price and number of properties sold, indicating a very healthy and active real estate market. The report also indicates an increase in days on market, which means that buyers can also benefit from having a bit more time to make real estate decisions.
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.