Monthly Market Snap Shot - HIghland February 2012

Sales increased a bit in the Highland real estate market in February 2012. There are many buyers wanting to take advantage of the historically low interest and wanting to move to one of Denver’s hottest neighborhoods.   Inventory remains a challenge as it remains low, especially in the $400k and below price range.  Several properties in this price range have gone under contract in less than a week with multiple offers.  The market remains a seller's market with 4.5 MOI for single family homes, and an even hotter seller’s market for condos with 1.42 MOI.  A seller’s market means the seller has the upper hand in the negotiation process and sellers can expect to get very close to asking price for their property. 

If you are, or have considered putting your home on the market, now is a great time.  The further into the spring and summer selling months we get, the more competition there will be on the market .

Single Family

# of Sales                          9

Median Sales Price           $279,450

Average Sales Price          $298,425

Average PSF                        $228

Average DOM                       101

Average List to Sold Price      90.6%

Months of Inventory                4.5

Condos

# of Sales                            9

Median Sales Price            $315,000

Acerage Sales Price          $371,200

Average PSF                     $236

Average DOM                     210

Average List to Sold Price    97.6%

Months of Inventory             1.42

Monthly Market Snap Shot - Highland January 2012

Sales remained consistent in the Highland real estate market as we entered the new year. The typical slow down of the winter and holiday months did not seem to effect buyers looking to purchase proper in the area.  With the months of inventory (MOI) below 6 months for both single family and condo properties, the Highland market is a seller’s market.  A seller’s market means the seller has the upper hand in the negotiation process and seller’s can expect to get very close to asking price for their property. 

One struggle in the Highland market is low inventory of properties below $400K.  Properties in good condition and priced well are going quickly, and some receiving multiple offers.

 Single Family

# of Sales               7

Median Sales Price  $400,000

Average Sales Price  $400,500

Average PSF      $186

Average DOM      133

Average List to Sold Price  87.9%

Months of Inventory  4.8

Condos

# of Sales     5

Median Sales Price   $390,000

Average Sales Price   $405,500

Average PSF       $221

Average DOM      309

Average List to Sold Price  96.2%

Months of Inventory   2