Highlands Ranch Housing Statistics
The Highlands Ranch housing statistics are out for the second quarter of 2013. I'm hearing the same thing from most agents in most areas of the country right now: high demand but very low supply. There are a lot of people still looking to buy homes but not a whole lot of homes for sale. This creates what we've seen for the past year now, a seller's market.
Last summer, we put our home on the market and it was sold at full price with no concessions in 3 days. The problem was, we couldn't find anything to buy that we liked. So because we had a contingency on the sale of our home and didn't need to move, we stayed put.
I met with a potential seller yesterday here in Highlands Ranch. His situation is very similar. He doesn't need to move but would like to. His determining factor in the decision is not buying another home in Highlands Ranch (he is moving out of state). His determining factor is price. He knows what price he needs to sell his house for in order to get the cash he needs for his next purchase. So I toured the home with him and we looked at what the market is doing.
Here are a few key pieces of information concerning the Highlands Ranch housing statistics. This data is provided by Metrolist, the regional MLS provider for the Denver Metro Area.
Number of sold homes: 529
Average Days on Market til Home Sold: 17
Median Days on Market til Home Sold: 5 (this is a more accurate number due to the fact that the above average of 17 can be greatly skewed by distressed properties, inappropriately priced properties, or difficult sellers. 50% of all homes for the quarter sold in 5 days or less.)
Average List Price: $387,619
Average Sold Price: $385,497
Avg Price/Avg List: 99.45% (This statistics means that on average, homes sold at 99.45% of their listing price...a great ratio for sellers!)
Active Listings: 199
START OF Q3
By comparison, let's look at a few numbers for the start of Q3.
7/1/13 - 7/13/13 (as of 5:30 AM MT)
Number of Sold Homes: 68
Average Days on Market til Home Sold: 11
Median Days on Market til Home Sold: 6
Average List Price: $371,796
Average Sold Price: $371,511
Avg Price/Avg List: %99.92
Active Listings: 199
As you can see, the number of available active listings has not changed in the past 13 days; we still have a supply problem. There has also been virtually no change in the median days on market until a property sells.
The Highlands Ranch housing statistics reflect that things are holding quite steady. There is no doubt that if you are looking to sell, this is a great time. Going back to the guy I met with yesterday about selling his home, here is an interesting fact. He purchased his home in 2007 at the absolute peak of the market (literally days after they closed, the market started to tank). Based on my comps, he could now list his home for the same price he purchased it at the peak in 2007.