We discussed Highlands Ranch a few blogs ago, but Highlands Ranch is just one city within Douglas County. As a matter of fact, Douglas County is seventh most populous of the 64 counties in Colorado, we thought it worthy of a post. The county is comprised of Highlands Ranch, Castle Rock, Parker, Roxborough, Castle Pines, and parts of Aurora and Littleton. There are some small towns in there too, such as Sedalia, Franktown, and more.
Most people probably know that the housing market is healthy right now. That being said, there are other factors within the economy that correlate with the housing market. As far as residential sales, the median price of homes in Douglas county in the third quarter of 2016 was $432,500. That was an 8.2% increase compared to the same quarter 2015. Further, the total number of jobs increased 5% from 2015 to 2016. Similarly, the unemployment rate went down .5% in the first quarters of 2016 and 2017. Along those same lines, the average annual wage in 2015 was $60,477, a 3% increase from 2014.
In 2016, 3,400 new housing units were built, which was an increase of 2.8% in Douglas County. As of January 2017, the total housing stock was 120,580 units; of those, 76% were single family detached houses. Compared to 2015, permits for new housing in 2016 increased by 11.6%, 3.660 in total.
Small businesses and franchises are expanding all over Douglas County. Recently, Castle Rock got a new promenade with jumbo stores like Sam’s and King Soopers. Also, over a dozen small retailers and restaurants have opened, with more to come. The 166-acre promenade is just north of the outlet mall off of I25. Still, the top 3 employers in the county are Douglas County School District RE-1, Charles Schwab Corporation, and Echostar.
Bottom line, if you’re considering moving to Douglas County, you can’t go wrong. Most of the county is just 20 minutes south of Downtown Denver, there are several light rail stations located to present as a commute option. The county is thriving and continues to grow with unemployment rates going down, housing permits increasing, and residential sale medians on the rise.
Milestone Home Mortgage LLC NMLS #2588937. Michael Shotnik NMLS: 218281, CO License: 100017466. Not licensed in Alaska or New York. To check license status of mortgage loan originator, visit D.O.R.A. and NMLS consumer access.
