Highland Park currently shows a neutral housing market, with conditions neither strongly favoring buyers nor sellers. A months of supply figure of 13.2 points to plenty of available homes relative to recent sales. At the same time, a typical home value around $114,937 and a median list price near $118,903 suggest sellers still have room to price with some confidence.
Over the latest rolling three-month period, home values in Highland Park are up sharply compared with a year ago, with the typical home value rising more than 70 percent year over year. Despite this jump in values, activity has cooled, as homes sold are down nearly 25 percent and new listings are also lower than a year ago. Buyers are seeing less pressure to bid aggressively, reflected in an average sale-to-list ratio of 89.2 percent and only about 18 percent of homes selling above their list price.
Speed has shifted notably, with the median days on market dropping to 24 days, far faster than a year earlier, while about 31 percent of homes still go off market within two weeks. Active listings are slightly lower than last year, but combined with slower sales, this has helped push inventory higher. With many moving parts in Highland Park’s market, both buyers and sellers can benefit from Agent Pronto’s help in finding an experienced local agent to guide their decisions.
