Quarterly Market Report - Highlands 2nd Quarter 2012

The Second Quarter of 2012 was extremely busy in the Highlands real estate market.  All areas saw a significant increase in the number of sales from first quarter 2012 to seond quarter 2012.  In most instances the average days on market (DOM) decreased as buyers had to act fast to get the property they wanted due to low inventory throughout the Highlands.  The largest increase in sales can be seen in new construction projects in the Highland/LoHi area.  The number of sales of new construction properties jumped from 3 in the first quarter to 24 in the second quater of 2012.  Many projects reached completion in the second quarter and buyers were able to close and move into their new property.  Developers are having no problem selling their properties in HIghland......in fact it seems as if new properties can not be built fast enough. 

HIGHLAND

Single Family

# of Sales                                       33

Median Sales Price                    $314,000

Avergae Sales Price                   $401,000

Avergae PSF                               $239

Average DOM                              59

Average List to Sold Price           94.1%

MOI           

                                    1.9

New Construction

# of Sales                                      24

Median Sales Price                     $540,500

Avergae Sales Price                    $569,800

Avergae PSF                                $255
Average DOM                              109
Average List to Sold Price           98.6%
MOI                                              1.14

Condos/Town Homes

# of Sales                                         21

Median Sales Price                      $315,000
Avergae Sales Price                     $315,250

Avergae PSF                                  $267

Average DOM                                 57

Average List to Sold Price             96.4%

MOI

WEST HIGHLAND

Single Family

# of Sales                                      82

Median Sales Price                  $353,750

Avergae Sales Price                 $363,350

Avergae PSF                             $230

Average DOM                             41
Average List to Sold Price         98.5%
MOI                                            1.4

New Construction

# of Sales                                      1

Median Sales Price                   $605,000
Avergae Sales Price                 $605,000
Avergae PSF                               $206

Average DOM                             324

Average List to Sold Price          97.7%

MOI                                              18

Condos/Town Homes

# of Sales                                     6

Median Sales Price               $232,250
Avergae Sales Price              $265,500
Avergae PSF                            $194
Average DOM                         56
Average List to Sold Price       94.1%

MOI                                          2.5

BERKELEY

Single Family

# of Sales                                  66

Median Sales Price              $299,200
Avergae Sales Price             $297,950
Avergae PSF                          $213
Average DOM                        72.6
Average List to Sold Price      98.5%

MOI                                           2

New Construction

# of Sales                                   11

Median Sales Price               $415,000

Avergae Sales Price              $444.750

Avergae PSF                            $209

Average DOM                           89

Average List to Sold Price      96.1%

MOI                                           3.5

Condos/Town Home

# of Sales                                      2

Median Sales Price                  $479,950

Avergae Sales Price                 $479,950

Avergae PSF                             $189

Average DOM                           79

Average List to Sold Price        98%

MOI                                            5

SUNNYSIDE

Single Family

# of Sales                                   53

Median Sales Price                $250,000

Avergae Sales Price               $248,500

Avergae PSF                            $177

Average DOM                         41.5

Average List to Sold Price       97%

MOI                                          1.81

New Construction

# of Sales                                     0

Median Sales Price                     0 

Avergae Sales Price                    0

Avergae PSF                                0

Average DOM                             0

Average List to Sold Price          0

MOI                                             0

Condos/Town

# of Sales                                   2

Median Sales Price                $179,500

Avergae Sales Price              $179,500

Avergae PSF                           $209

Average DOM                         27

Average List to Sold Price       98.6%

MOI                                          2