Highland Lakes's real estate market is experiencing a price correction, with values down 27.1% from last year. Home prices have decreased 26.6% in the past month. With 30 active listings, inventory is 67% higher than seasonal norms. Properties are selling within just 36 days on average, much faster than the historical norm of 173 days. Approximately 40.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Highland Lakes market with the affordability index at 512.7. Based on current market indicators, home prices in Highland Lakes are projected to increase by approximately 6.0% over the next month.
Highland Lakes, AL has a total population of 5,973 residents. The area is predominantly White (87.7%), The African American population is 7.4%. The area has a more homogeneous population distribution. The small population size creates an intimate community atmosphere in Highland Lakes, AL.
Market predictions for Highland Lakes, AL show an upward trend in home prices, with values increasing by 7.9%. This indicates a moderate but notable price trend. The current median home price in Highland Lakes, AL is approximately $600,480.304. Based on current trends, home prices in Highland Lakes, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
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