Highland Lake's real estate market is experiencing a price correction, with values down 22.3% from last year. Home prices have increased 21.9% in the past month alone. With 2.0 months of supply, Highland Lake's inventory levels remain relatively tight. Properties are selling within just 30 days on average, much faster than the historical norm of 135 days. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Highland Lake market with the affordability index at 10456.9. Market projections suggest continued price appreciation in the coming months as demand outpaces supply.
Highland Lake, AL has a total population of 386 residents. The area is predominantly White (99.2%), The area has a more homogeneous population distribution. The small population size creates an intimate community atmosphere in Highland Lake, AL.
Market predictions for Highland Lake, AL show relatively stable home prices with minimal change (-1.5%) over the recent period. This suggests a gradual price adjustment in the market. The current median home price in Highland Lake, AL is approximately $475,244.506. The stable price trend suggests a balanced market in Highland Lake, AL, suitable for both buyers and sellers.
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