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