The housing market in Highland Park continues to see strong price appreciation, with values up 213.0% compared to last year. Home prices have increased 58.2% in the past month alone. At the current sales pace, it would take over 9.5 months to sell all available homes in Highland Park, indicating an oversupplied market. Homes are now taking an average of 78 days to sell, significantly longer than the 47 days typical for this market. A significant 23.7% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 50.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Highland Park market with the affordability index at 60.0. Based on current market indicators, home prices in Highland Park are projected to decrease by approximately 9.8% over the next month.