Highlands Ranch Real Estate : January 2012 Market Report Condos and Town Homes
As we enter into the new Real Estate sales year, let’s take a look at how the condo / town home market is faring.
Remember, each market is different, as is each community. If you have any questions about the value of your condo or town home in this every changing real estate market, call Kathy of Team Sampron at (303) 931-3780 for your complimentary, personalized market analysis.
All good news here! The number of properties sold in the month of January has remained steady for the last three years.
We’re also seeing a decrease in the number of days on market.
As we’re seeing in the single family home market, the number of active and new listings continues to decrease.
When compared to 2010 the number of active listings this January is down 31% and the number of new listings a dramatic 50%.
The condo and town home market has suffered more than any other in this volatile real estate market. Many sellers are finding their home value is no where near the amount they paid for it just a few years ago. This sellers are waiting out the market in the hopes it will rebound enough to break even or even make a few dollars when the time is right to sell
As I mentioned above, the value of condos and town homes has suffered the most in this market as you can see here. But also remember that each home value is based on that individual property.
The Absorption Rate shows us how long it should take a home to sell in this market. When you consider the number of properties on the market and divide it by the average number of homes that sell each month you come up with this figure.
Whenever you see a decrease it’s good news. We do need to consider that the reduction this year has a lot to due with the reduction in listings in this market.
Hope these figures are helpful. If you have any questions or would like to discuss the real estate market in Highlands Ranch, give Carrie a call at (303) 931-3629.