Micromarket Reports

Denver Metro

Micromarket Report

Consistently ranked as one of the best cities to live in the U.S., Denver Metro is an epicenter for art, culture, music, business, and adventure. The Mile High City and its surrounding communities have something for everyone, as you can enjoy many lifestyles. From professional sports, gourmet restaurants, stunning street art, and iconic live music venues, Denver has it all. What’s more, each neighborhood within Denver County is as unique as the snowflakes that grace this city in the winter. These characteristics and features such as amazing public parks, access to public transportation, and other amenities are what attract homebuyers from across the country.

LIV Sotheby’s International Realty reports on the Denver Metro real estate market, sectioning into 58 neighborhoods. Collectively, comparing the Q1 performance of 2020 to that of 2019, sold listings increased by a notable 8.1%, which brought 10,888 sold listings to the market. The average price in Q1 showed an upward trend, growing by 6.6% for single family homes and 3.9% for condominiums. As a result, the overall total dollar volume sold rose by 13.4% in Q1 when the total reached $5,248,863,111 compared to last year when the total sales volume reached $4,629,021,069.

Within the 58 neighborhoods that make up Denver Metro, many neighborhoods experienced noteworthy activity throughout Q1 of 2020. Southglenn saw a formidable increase in properties sold, growing by 133.3%. During Q1 of this year, there were 14 homes sold in this community compared to the same time frame in 2019 when there were just six homes sold

Single family homes and condominiums in Cherry Creek East and South saw the greatest increase in average price during Q1 of 2020, of 50.6%, in a comparison to Q1 of 2019. Through March of this year, the average price for single family homes and condominiums in this community rose more than in most other neighborhoods.

Homebuyers in Crestmoor were very motivated during Q1 of 2020. Listings in this community were on the market for 78% less time, averaging only nine days in Q1 of this year compared to 41 in Q1 of 2019. Heritage Greens also saw a drop in average days on market, decreasing by 60.6% , from 71 days in the first quarter of 2019 to 28 days in the same time period this year.

Because of an active and continually growing real estate market, Denver Metro’s array of neighborhoods present buyers and sellers with opportunities to reach their real estate and lifestyle goals.

This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Baker, Belmar, Bell Mountain Ranch, Berkeley, Bonnie Brae, Belcaro, Bow Mar, Capitol Hill, Castle Pines North, Castle Pines Village, Cheesman, Cherry Creek, Cherry Creek North, Cherry Hills Village, City Park, City Park, Cory-Merrill, Columbine Valley, Congress Park, Country Club, Crestmoor, Downtown (condos), Golden Triangle, Greenwood Village East, Greenwood Village West, Hale Mayfair, Heritage Greens, Highland, Highlands Ranch, Hilltop, Homestead, Jefferson Park, Ken-Caryl North Ranch, Keen Ranch, Ken-Caryl Valley, Lakewood, LoHi, Lonetree, Lowry, The Meadows, Montclair, Observatory Park, Park Hill, Platt Park, Polo Reserve, Pradera & Timbers, RiNo, Saddle Rock Golf Club, Sloan’s Lake, Southglenn, Southern Hills, Stapleton, Sunnyside, Tallyn’s Reach, Uptown, Washington Park East, Washington Park West, and West Highlands.

Vail Valley

Micromarket Report

The Vail Valley, located within Eagle County, is the epitome of a Colorado resort community. Incredible skiing in the winter and unbeatable scenery for summer activities such as hiking, biking, golfing, fishing, and ziplining, attract people from all over the world. Live out your mountain dreams in one of the beautiful towns that collectively make up Eagle County, including the Vail Village, Beaver Creek, Edwards, Avon, and Cordillera. These communities keep things fresh with a healthy mix of luxury amenities and more casual, local offerings. Finding your happy place is never hard in a resort community such as this.

LIV Sotheby’s International Realty produces a Micro Market Report focusing on the real estate performance for Eagle County, which makes up the Vail Valley, in Q1 of 2020 compared to Q1 of 2019. Total sales volume for Eagle County grew slightly by 1.2%, reaching $332,356,420 in Q1 of this year, an uptick from when the total sales volume was $328,335,339 in Q1 of 2019.

South Metro

Micromarket Report

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.

Resort

Micromarket Report

Resort communities are each unique and offer an abundance of activities drawing in many to live the sought-after resort lifestyle. These high-altitude homes have the privilege of access to some of the most incredible mountain landscapes and proximity to world-class skiing. Due to the incomparable location of these resort regions, LIV Sotheby’s International Realty produces an annual report that specifically analyzes real estate market data for homes in the mountains. This report helps educate consumers who are looking to buy a home, looking to sell a home, or who are just curious about the latest real estate trends within resort markets.

Tucked away in valleys and hidden behind towering mountain peaks, communities in resort towns tend to feature more luxury listings since affluent buyers are attracted to the opulent, and often exclusive, lifestyle that these areas can provide. Seasonality, location, less availability of homes listed for sale, and other factors typically drive home prices in these communities upwards, fueling the continually growing resort luxury home market.

When considering making a real estate investment in one of these incredible resort or mountain communities, take a close look at the market data to ensure that you are making the best financial and lifestyle decision for you and your family. LIV Sotheby’s International Realty is committed to educating consumers and assisting them in reaching their real estate and lifestyle goals.

Vail Valley

Micromarket Report

No matter the season, Vail Valley is always a great place to be. The mountains that house the Vail Valley are either covered with wildflowers in the summer or veiled with sparkling snow in the winter, making this region an astounding sight to see at any time of the year. Many migrate to Eagle County, which includes the towns and neighborhoods of Vail Village, Beaver Creek, Avon, and Cordillera to name a few, for its attractive resort lifestyle and unbeatable scenery.

LIV Sotheby’s International Realty produces a Micro Market Report focusing on the real estate performance for Eagle County, which makes up the Vail Valley, for 2019 compared to 2018. Total sales volume for Eagle County grew by 4.4%, reaching $1,768,165,313 by the end of 2019. As a whole, attached homes (condominiums, townhouses, and duplexes) saw more sales (+8%) last year.

A handful of communities within Vail Valley experienced noteworthy upticks in the number of property sales closed in 2019. The most tremendous increase was seen in Edwards – Lake Creek. This community had a 450% boost in properties sold in 2019 when 11 homes were sold, compared to 2018 when only two homes were sold. Another dramatic increase of properties sold took place in Vail Golf Course and Spraddle Creek where the number of sales more than doubled, climbing by 120%. Other neighborhoods included in the Vail Valley such as Booth Creek, Potato Patch, Sandstone, Lionsridge, Buffehr Creek, and Highland Meadows also saw increased sales activity, with the number of sold homes growing by 43.4%.

Vail Valley is known for having a balance of rugged outdoors and elegant amenities including plenty of shopping, dining, and nightlife options to choose from. As one of the more luxurious mountain communities, Vail Valley is a natural choice for many homeowners looking to the best of both worlds in Colorado.

This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Arrowhead, Avon, Bachelor Gulch, Beaver Creek, Brush Creek, Cordillera, Cordillera Valley Club, Eagle, Eagle Ranch, Eagle-Vail, East Vail, Edwards – Lake Creek Valley, Edwards – Singletree, Edwards & Homestead, Gypsum, Lionshead, Minturn, Mountain Star, Vail Golf Course & Spraddle Creek, Vail Village, West Vail & Cascade, and Wildridge/Wildwood.

Denver Metro

Micromarket Report

Denver Metro is a hub for urban adventures, budding and booming businesses, nature lovers, city slickers, and everyone in between. Since it has a little something for everyone, it’s no wonder Denver was named the second-best city to live in within the U.S. by U.S. News. The unique assets of Denver Metro have attracted people from across the county and across the world to migrate to the Mile High City, creating a favorable environment for home buying and selling.

LIV Sotheby’s International Realty (LIV SIR) reports on the Denver Metro real estate market, sectioning into 57 neighborhoods. Collectively, comparing the year-end results of 2019 to that of 2018, new listings increased by 3.8%. The number of new listings that came onto the market during 2019 totaled 64,542, compared to 2018 when the total new listings amounted to 62,203. These additional new listings likely contributed to the 7.8% rise in total dollar volume sold throughout the course of 2019. These metrics illustrate the health of the market as we reflect on 2019 and continue into 2020.

Within the 57 neighborhoods that make up Denver Metro, there were specific market changes that should be noted. Cherry Creek North, a community loved for its proximity to the amenities of downtown Denver while maintaining a quiet residential reputation, saw an impressive 47.8% increase in properties sold in 2019 as compared to 2018. The average days on market for the Golden Triangle neighborhood dropped dramatically by 85.8% from 430 days in 2018 to just 61 days in 2019. Further south, average home prices in Lone Tree have grown 28.2% since last year. The average price for a home in 2019 was $873,140. Overall, there are plenty of opportunities throughout Denver Metro for sellers to reap the most dollars out of their investment in a home, as prices in many micro markets are steadily increasing.

This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Baker, Belmar, Bell Mountain Ranch, Berkeley, Bonnie Brae, Belcaro, Bow Mar, Capitol Hill, Castle Pines North, Castle Pines Village, Cheesman, Cherry Creek, Cherry Creek North, Cherry Hills Village, City Park, City Park, Cory-Merrill, Columbine Valley, Congress Park, Country Club, Crestmoor, Downtown (condos), Golden Triangle, Greenwood Village East, Greenwood Village West, Hale Mayfair, Heritage Greens, Highland, Highlands Ranch, Hilltop, Homestead, Jefferson Park, Ken-Caryl North Ranch, Keen Ranch, Ken-Caryl Valley, Lakewood, LoHi, Lonetree, Lowry, The Meadows, Montclair, Observatory Park, Park Hill, Platt Park, Polo Reserve, Pradera & Timbers, RiNo, Saddle Rock Golf Club, Sloan’s Lake, Southglenn, Southern Hills, Stapleton, Sunnyside, Tallyn’s Reach, Uptown, Washington Park East, Washington Park West, and West Highlands.

Luxury

Micromarket Report

Vail Valley

Micromarket Report

As a well-known luxury market, the Vail Valley drives visitors and buyers from around the world to experience the year-round activities, the tight-knit community feel, the high-end shopping and dining, and of course the spectacular mountain views.

LIV Sotheby’s International Realty produces a Micro Market Report focused on the Vail Valley and the neighborhoods within it. As a whole, Eagle County saw a slight increase in average price by 1.3% for Q1 of 2019 compared to 2018, increasing the average price for this year to $1,335,706. Interestingly, condos, townhomes and duplexes saw the highest development in number of sold listings, increasing by 2.4% to 169 sold in 2019.

Highlights for Eagle County include a number of impressive increases in average price including the most notable, a 68.5% gain for Minturn bringing the average price to $1,087,500 in 2019 compared to $645,413 in 2018. Other significant expansions in average price include a 30.9% increase in all properties for Edwards – Singletree, a 27.8% increase for all properties in West Vail & Cascade, and a 23.8% increase for all properties in Arrowhead.

A number of areas within Eagle County also escalated with the number of properties sold, with the most impressive being Vail Course/Spraddle Creek increasing 200% to six properties sold in 2019 compared to two properties sold in 2018 for January through March. Following closely behind, West Vail & Cascade increased 150% for properties sold to 10 in 2019, from four in 2018.

The Vail Valley is truly an international destination and continues to display luxury price points for real estate sales. Interested sellers can benefit from these luxury price points and buyers can take assurance in knowing their investment is in a world-renowned destination that continues to bring enhanced interest.

Denver Metro

Micromarket Report

Consistently ranked as one of the best places to live, Denver Metro offers an unbeatable lifestyle with ideal weather, panoramic mountain views, and regularly added trendy restaurants and entertainment. Plus, a strong economy continues to drive people from out of state to call Denver their home.

LIV Sotheby’s International Realty reports on the Denver Metro real estate market, sectioning into 54 neighborhoods. Collectively, comparing the results of Q1 of 2019 to that of 2018, new listings increased by a notable 5.7%. This increase led to almost 15,000 new listings so far in 2019. Average price also increased by 2.1% and total dollar volume sold increased by 1.7%. These three increases show a healthy and active market for Denver Metro as we head into the spring and summer months of 2019

Across the 54 neighborhoods there are notable increases in average price and decreases in average days on market, proving that 2019 is off to a very active start. Cheesman (including single family and condos) saw an impressive 47.3% increase in average price to $614,695 in 2019, as well as a 11.8% increase in average price per square foot to $391. Downtown (including condos) saw an astounding 48.7% increase in average price to $860,052 in 2019 and a 14.6% drop in average days on market to just 88 days in 2019. Golden Triangle also saw an impressive jump in average price by 34.8% to $790,833 in 2019. Many other neighborhoods also reported similar increases in average price as well as significant decreases in average days on market, resulting in a wonderful market for sellers to benefit.

With the increase of Denver Metro buyers both within and outside of the state, buyers should be prepared to act quick when their Denver dream-home is found. The initial start to 2019 anticipates a very busy year for both buyers and sellers as Denver Metro has proven to be, and will most likely continue the path to be, an extremely hot market.

Denver Metro

Micromarket Report

The Colorado real estate market performs quite differently than the national average. Even in an area the size of metro Denver, market trends can vary dramatically from neighborhood to neighborhood. When you are contemplating as large a financial commitment as the purchase or sale of a home, micro-market data on your neighborhood can make a big difference.

LIV Sotheby’s International Realty compiles quarterly and year-end reports of micro-market statistics to help you make better real estate decisions. Contact your LIV Sotheby’s International Realty broker today or email info@livsothebysrealty.com for a printed copy of our Micro Market Reports.