Highlands Ranch, CO Real Estate – January & February 2007 Market Report

2006 was a tough year for real estate all over the country as well as here in Highlands Ranch, Colorado. People here have been used to record growth & rising 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 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! www.stevescheer.com