Highlands Ranch Real Estate: January - February 2007 Market Report

Real Estate in Highlands Ranch, Colorado: January - February 2007 Market Report
Steve Scheer
Denver CO Real Estate

Wow! 2006 was a very tough year for real estate in the country as well as here in Highlands Ranch, Colorado.  Folks here have been used to record growth and escalating home values on resale homes for a number of years now.  Many have been shocked at the decline in sales and for many more homeowners that have been trying to sell their homes, the reality is just not what they want to hear. 

However the silver lining to all of this is that if you happen to be a buyer, the choices have been plenty and the negotiating power has been good.  The plus side for sellers is if you've owned your home for more than 5 years then you have likely made some decent equity gains overall.  Such is the cycles of real estate.  One thing however, Highlands Ranch has certainly not been a bubble bursting area at all.  Here's a look at the present stats.

According to Metrolist, which is the local MLS that includes Highlands Ranch real estate, here is the comparison so far for January and February 2007 of single family residential properties in the Highlands Ranch. 

• January Active - 494
• February Active - 502
  
•  January Under Contract - 177
• February Under Contract - 192
  
• January Sold  - 131
• February Sold -  131
  
• January Average Days on Market - 99
• February Average Days on Market - 81 
  
• January Average Home Price - $359,186
• February Average Home Price - $359,054
  
• January Expired Listings - 43
• February Expired Listings - 20

As you can see, this year has been very consistent so far.  The fact of the matter is there is about a 2 1/2 to 3 month supply of homes with an average sales price of around $359,000.  Seasonally, the amount of inventory should increase slightly soon with the warmer weather and such.  Days on market have come down a bit and in general this is a pretty balanced supply and demand.  And as always, any home in the best locations, priced right and showing very well will still sell fast.  Compared to other areas, Highlands Ranch is still one of the best areas to buy a home and feel secure in your investment value!