Single-family homes in the West Highland continue selling strong while the Highland is going through some market adjustment. The average days on market for a home in West Highland was 128 days with specific areas, such a the Irving St corridor being lower. Highland is around 91 days though we’re seeing final sales prices at 93.2% of original list price. This is likely being caused sellers introducing their homes on the market at a higher price that the market isn’t responding to. Both the Highland and West Highland are closing at about 96.9% and 96.8% sales to list price, respectively. There are about 21 weeks of inventory available in West Highland and 35 weeks in the Highland.
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Single-Family Homes (Sep 2008)
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West Highland
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Highland
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| Active Listings |
76
|
90
|
|
| Under-Contract |
26
|
11
|
|
| Sold |
16
|
11
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| Average Days on Market |
128
|
91
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| Average Sold Price |
$332,365
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$314,309
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| Price per sqft |
$296
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$215
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| Price per finished sqft |
$218
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$202
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| % Sale/List Price |
96.7%
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96.9%
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|
| %Original/List Price |
95.9%
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93.15%
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Since West Highland historically has a lot of single family homes, the condo market isn’t as robust. Of the 32 condos for sale, 5 are under contract and 2 actually sold in September. There are about 70 weeks of inventory on the market at the current selling rate.
The Highland has had a condo boom with the completion of the pedestrian bridge over I-25, extending the Lower Downtown (LoDo) walk corridor further west. With current market conditions, there’s an excess of inventory on the market with some aggressive pricing to get it sold, which should get even better. There are 197 condos on the market, 10 under contract and 6 sold in September at an average price per square foot of $253. There are 142 weeks of inventory on the market, so again, expect to see some decreases in prices to get these homes moving.
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Condo (Sep 2008)
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West Highland
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Highland
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| Active Listings |
32
|
90
|
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| Under-Contract |
5
|
197
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| Sold |
2
|
10
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| Average Days on Market |
20
|
6
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| Average Sold Price |
$222,000
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$303,250
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| Price per sqft |
$252
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$253
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| Price per finished sqft |
$252
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$253
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| % Sale/List Price |
98.9%
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98.4%
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| %Original/List Price |
97.8%
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97.0%
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Contact us at Info@TheShulerGroup.com to get more information on sweet deals in the Highland area or make sure to check our our free VIP Home Search below.
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