November 2018 is in the books. What happened with the real estate market in Westridge Village, Highlands Ranch?
3 New Listings were added to the market in November which equaled the 3 new listings that were added in November 2017. So, no change. In essence, this reflects the seasonal slow down that occurs during the winter months.
There were 6 Active Listings compared to 5 this time last year. A 20% increase over last year, but really the same.
The Median List Price for November 2018 shows a small 1.1% decrease from last November. A reflection of the slowing of appreciation across not only Highlands Ranch, but the Metro Denver area as well. The question is: Will this continue in 2019, or is this a minor blip and we continue higher? I wish I had a crystal ball. I don’t think we see 10% appreciation in 2019, but maybe a more moderate 2-5%.
I will address the sold statistics under the comparisons below.
median list price
The Number Of Homes Sold in November was 7 compared to 5 at this time last year. Two more homes sold which represents a 40% increase over November 2017.
The Median Sales Price has slowed as well as there was a 2.33% decrease from November 2017’s numbers. Appreciation over the last few month has ebbed from what we are used to. Like I asked above – what will happen in 2019? Again, I think we still appreciate, but at a more moderate pace. My best educated guess.
The Average Price Per Square Foot is up 16.13% from last November.
The Average Days On The Market decreased by 61.54% from this time last year. This is quite a difference from even October 2018 where it took over 30 days for a home to sell. This could be a good sign heading into 2019, but we’ll see if this number can stay on the lower end.
The Closing Price Versus The Original Listing Price As A Percentage was 98.5%. A nice increase of 1.65% versus November 2017.
Months Of Inventory is a gauge to let you know if it is a sellers or buyers market. There was no change from this time last year – both months registered 1 Month of Inventory. This still points to a sellers market.
Westridge Village real estate is still selling. Albeit, there are signs of things slowing down.
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