The Numbers – How Highlands Ranch Homes Sales Fared in 2013
Happy New Year!
Now that we have a couple weeks of 2014 under our belt let’s take a look at how the Denver area real estate market performed last year. There is a lot of positive speculation out there regarding the economy and especially the real estate market here in Highlands Ranch, it’s always a good idea to take a look back at the year end real estate data for 2013 to get a sense of the activity and where it may lead us this year.
By most accounts, last year was a tremendous success when it comes to the Highlands Ranch housing market! Days on market averaged only around a month while the average months of inventory remained just about 2 months. If we compare the activity in Highlands Ranch for 2013, year over year to 2012 we see these very positive results: Overall number of sales in 2013 were up by 314 homes. (Keep reading below my year end graphic.)
Overall days on market to sell those homes was down by an average of 25 days. Almost a month! And the overall average sales price INCREASE was $22,318,000. So more homes sold, for more money and took a lot less time to sell. Is there any downside to that? Actually, if there is a downside to the year end real estate data in Highlands Ranch it is the inventory levels. Low, low, low housing inventory throughout much of the Denver metro area but this is especially true in Highlands Ranch. This creates a great market for sellers who want a faster sale and near asking price on their home – if of course it is priced right in the first place. But for home buyers, this increases the likelihood of needing to overbid on homes, feeling rushed a bit in making a decision and of course, the disappointment of losing out on the home, or homes, of your dream. It can be rough. Most of the sellers become buyers and feel both ends of the home low inventory issue.
However, the year end real estate data for Highlands Ranch for 2013 is still a very positive result. It is always good to have home prices increasing and demand high. This is a great situation to be in. With interest rates remaining low for the time being, I would suspect demand for Highlands Ranch homes to stay red hot and why not, Highlands Ranch is a wonderful place to live and an excellent place to own a home.
I live and work in Highlands Ranch and have for nearly 20 years. If you are considering a move in Highlands Ranch, you’ll want an agent with experience to help navigate the details in a fast moving market with competing offers. If I can help you with your next move, please get in touch and let’s start the conversation.