Highlands Ranch Sold Statistics July 2010 - Highlands Ranch, Colorado
Overall the sold homes in Highlands Ranch, Colorado were down about 23% from June due mostly to the Homebuyers Tax Credit expiring. This was a huge push for many homeowners to go out and make the purchase they had been saving for but no there is a bit of a slowing in the market. Not all things are bad though, the average price per square foot as actually gone up which is helping those who are selling and helping the months of inventory decrease.
Interest rates are at an all time low, which I am sure you have heard by now. This is another big reason for those who are still waiting or on the fence to get moving. Because the rates are so low the average borrower can actually borrower substantially more without the payment going up. For example: The average Highlands Ranch borrower makes $75,000 a year and can qualify for a $2000 monthly payment (PITI). This is a $330,000 home at a interest rate of 6%. If this borrower were to buy now, they could afford a $390,000 home at a 4.5% interest rate with that same payment. This is a HUGE difference!
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