South Metro | Quarter 3, 2022
Denver’s South Metro neighborhood offers a wide selection of communities that can cater to almost every lifestyle. From spacious ranch properties to exquisitely planned communities and modern condominium living, there’s something here for everyone. Featuring an abundance of parks, trails, and other recreation options in addition to a bustling business hub and endless entertainment choices, it’s no wonder why the South Metro community has remained a favorite for those looking to write their next chapter in a Colorado home.
LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance through Q2 of 2022 compared to the same time frame in 2021. Inventory levels rose by 1.9% through June, bringing 5,184 new listings onto the market - an encouraging sign for buyers looking for the right South Metro home. The average price for homes in South Metro appreciated by 15.5% to reach an average price of $816,252. This increase in the average sale price contributed to the rise in the overall sales volume for the area which reached $3,201,340,359.
Some of the most beloved areas within the South Metro neighborhood maintained steady levels of homebuying activity through the first half of the year. In Castle Rock, home sales remained relatively constant, increasing by just 0.1% to reach 1,005 homes sold. In Castle Pines, the number of homes sold rose by 1.5% which brought the total number of homes sold to 137 through June. The community with the highest number of homes sold was Highlands Ranch where there were 660 homes sold – a 15.5% decrease from the same time frame in 2021.
South Metro’s continued popularity among homebuyers created an upward trend in home values within several neighborhoods through June of this year compared to the same time frame in 2021. For example, The Village at Castle Pines saw a 17 % increase in average home prices, which brought the average price to $1,920,779. The most affordable homes in the South Metro area were sold in Crystal Valley where the average sale price was $658,955. Conversely, the most expensive homes were sold in Ravenna where the average sale price was $2,440,906. The highest-priced sale through June of this year was recorded in Larkspur where a home sold for the impressive price of $4,495,000.
Conveniently located near all the very best activities and amenities that the Front Range has to offer, the South Metro community is a haven for homebuyers and sellers hoping to reach their lifestyle goals in Colorado.
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.