MARKET UPDATE: July Numbers are in!

Market Update:

Metrolist, Inc. (MLS) has finally released the raw real estate data for the month of July. I have gone through the data and put together the following analysis for Highlands Ranch. Please feel free to contact me if you have any questions!

Highlands Ranch Real Estate Stats

Interpretation:

What does all of this mean? It is quite simple really. For the month of July the number of listings (inventory) increased 1.69% when compared to June 2008. 21.31% few properties went under contract. Sold properties also decreased by 10.25% compared to June 2008.

Ultimately, we are seeing more properties on the market with fewer homes receiving acceptable offers (going under contract) and a decrease in sales month over month. It is also taking slightly longer to sell homes as the days on market (DOM) increased. The number of properties that expired without sale also increased.

One thing to keep in mind is this data is for Highlands Ranch as a whole. Some neighborhoods outperform others. If you would like to see sales data for a specific neighborhood, please let me know. I would be more than happy to provide you with the data.

The Actual Numbers:

Below are the actual numbers for the months of June and July 2008.
Active Listings: 661 (July) compared to 650 for June
Under Contract Listings: 203 (July) compared to 258 for June
Sold Listings: 210 (July) compared to 234 for June
Days on Market (DOM): 69 (July) compared to 67 for June

Where’s the good news?

The good news is the average sales price increased to $362,206

Did you know the highest average sales price for Highlands Ranch since January 2006 came in December of 2007. The average sales price in December 2007 was $407,477.

 

Highlands Ranch Art festival and Wine Tasting

wine and art

The arts festival will feature art from local artists. Art will be available for purchase. Come enjoy the art, activites, events and food!

Highlands Ranch Arts Festival and Wine Tasting

Wine Seller will be holding a wine tasting in conjunction with the Arts Festival. Whole Foods will have appetizers on hand. Come enjoy two of the finer things life has to offer: Wine and Art or is it (Art and Wine?) 
When: August 9, 2008

• Arts Festival 9AM-6PM
• Wine Tasting 1:30PM-4:30PM

Where: Highlands Ranch Town Center

Other Details: The arts festival is free. The wine tasting is $20 and all proceeds will benefit the Highlands Ranch Community Scholarship Fund. 

**Over 21 years of age. ID’s will be checked. PLEASE DON’T DRINK AND DRIVE!

 

Hello world!

Well, I am officially back in the blogosphere! Many of you followed my previous blog at another site. Unfortunately, I found the site to be a bit cumbersome and I was devoting too much time to the blog.

I am excited to be back and to be a member of the WordPress community. I received a lot of requests from people to bring this blog back. So here it is! This blog will be specific to Highlands Ranch real estate, the community, living, and much more! While it will contain a lot of fantastic, general real estate information it’s scope and focus will remain solely on Highlands Ranch.

If you are looking for my past blogs, my information on Lofts, Condos, and Townhomes, or my Luxury home sites you will find links to them on the right side of the page just as soon as I get the data transferred.

I am excited to be back and look forward to the comments and suggestions.

It’s A Good Life,

Joe