June was HOT, and not just in temperatures.....the Highlands real estate market was HOT as well. All areas saw an increase in the number of sales from May to June 2012. Even with low inventory, buyers continue to purchase property at a rate that is higher than this time last year. There are many serious buyers searching the Highlands for homes to meet their needs. They search the internet at home and on weekends circle for Open Houses in hopes they are the first to find that home that meets their needs. Historically low interest rates are keeping buyers interested in the market and low inventory is helping sellers obtain close to asking price for their home. The HIghlands continues to be seller's market in all areas.
Interest rates are expected to remain low through 2012.....it will be interesting to see what the next few months bring to the Highlands real estate market. Will the typical seasonal slow down at the end of the summer effect the market?? Stay tuned!
Highland
# of Units Sold 32
Median Sales Price $380,000
Average Sales Price $452,200
Average PSF $254
Average DOM 79
Average List to Sold Price 97%
Months of Inventory (MOI) 1.25
West Highland
# of Units Sold 33
Median Sales Price $335,000
Average Sales Price $374,300
Average PSF $221
Average DOM 43
Average List to Sold Price 99%
MOI 1.22
Berkeley
# of Units Sold 34
Median Sales Price $294,000
Average Sales Price $331,400
Average PSF $223
Average DOM 53
Average List to Sold Price 98.4%
# of Units Sold 15
Median Sales Price $279,000
Average Sales Price $273,500
Average PSF $198
Average DOM 20
Average List to Sold Price 98.2%
MOI 2.26
