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 Real Estate 