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Just How Crazy Has Highland Park Real Estate Been Over the Last Two Years?

14-809441_5_1The housing in Highland Park has been getting more and more expensive for a while now, but it’s gone nuts enough over the last two years to surprise a lot of people, especially the long-term residents who’ve lived there long enough to remember when it was not so hot at all. In early 2013, listings site Redfin declared HLP was the hottest up-and-coming neighborhood in the country, and by early 2014, prices in the once-modest ‘hood were starting to reach into the million-dollar range. Adaptive Realty founder Moses Kagan has now collected the data and compiled it into helpful charts to show how housing prices in Highland Park jumped in just that one year, from 2013 to 2014. Single-family houses in HLP sold at a median of $445,000 in 2013, but for most of the first half of the year, they were hovering around the $400k range; it wasn’t until the third quarter when the median shot up above $450,000.

After that, it was a more-or-less steady climb up to a robust $531,000—2014’s median sales price for 2014. Has Highland Park peaked, then? Last year saw a new high for median housing sale prices in HLP, but they dropped down ever-so-slightly at the end of the year. No one left to buy those high price in all-cash, maybe?

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