The Highland Woods neighborhood is definitely dealing with low inventory. Both the average and median home prices went up. The median went up 18.3% and the average went up 15.% The number of closed sales, however, went down 38.9%. Pending sales went down 29.4% while new listings went down 16.7% and homes for sale went down 33.3%. The days on market went down for both the median (by 33.3%) and the average (27.8%). The month supply was already low, but dipped down even further 41.2% to a 1 month supply. A balance market needs 6 months and anything under 4 is considered a seller’s market, which this neighborhood definitely is in!
|Highland Woods Market Comparison||2017||2016|
|Number of Sales||18||11|
|Median Home Price||$469,000||$396,500|
|Average Home Price||$496,591||$428,744|
|Average List to Sale Ratio||98.3%||98%|
|Average Dollar Per Square Foot||$327||$272|
|Median Days on the Market||58||87|