Highlands Ranch/Lone Tree Real Estate & Homes For Sale
Find your dream home in this neighborhood famous for its historic and extravagant mansions.
Find your dream home in this neighborhood famous for its historic and extravagant mansions.
The Highlands Ranch real estate market is a dynamic and competitive space, offering a range of opportunities for buyers, sellers, and investors alike.
As of July 2023, the Highlands Ranch housing market has seen a modest but positive growth in home prices. The median sale price for homes in the area was $675,000 last month, marking a 1.9% increase compared to the previous year. Additionally, the median sale price per square foot has also risen by 1.6%, now standing at $260.
While the pricing trends are encouraging, the sales data paints a more nuanced picture. A total of 132 homes were sold in July 2023, which is a decline from the 159 homes sold during the same period last year. Furthermore, homes are staying on the market for an average of 10 days, a slight increase from the 9-day average in the previous year.
The Highlands Ranch housing market is notably competitive, with homes typically selling in just 9 days. Many homes receive multiple offers, and some even waive contingencies to accelerate the sale process. On average, homes are selling at around their list price and go pending within approximately 9 days. For homes that generate significant interest—often termed "hot" homes—they can sell for about 1% above the list price and may go pending in as little as 4 days.
Inbound and Outbound Migration
Between June and August 2023, migration patterns in Highlands Ranch were fairly balanced. About 35% of homebuyers were considering moving out of Highlands Ranch, while a majority of 65% were looking to stay within the metropolitan area.
On a national level, 2% of homebuyers were contemplating a move to Highlands Ranch from other metropolitan areas. Miami led the pack in this regard, followed by Colorado Springs and San Francisco.
Popular Relocation Destinations
For Highlands Ranch residents considering relocation, 65% still preferred to stay within the metropolitan area. Among those looking to move beyond the local region, Chicago emerged as the most popular destination, followed by Fort Collins and Breckenridge.
The Highlands Ranch and Lone Tree real estate market is characterized by its competitive nature and stable pricing trends. While there has been a slight decrease in the number of homes sold and a minor increase in the time homes spend on the market, the demand remains strong. The area continues to attract a diverse range of homebuyers, both from within and outside the metropolitan region.
Understanding these market dynamics is crucial for anyone looking to make an informed real estate decision in Highlands Ranch and Lone Tree. As always, consulting with real estate professionals and conducting your own research are recommended steps for successfully navigating this competitive market.
