The northwest Denver neighborhood has been experiencing a low inventory of newly built condos. In September, not one new-construction condo was on the Multiple Listing Service.
"There is still a huge lack of inventory," said Paul Tamburello of Red Chair Realty Advisors. "I think the economic downturn didn't hit Highland as bad, so people were still developing. They trusted that the market was coming back."
Somewhat quietly, $1 million-plus homes were being built in Highland.
"What was interesting about it was none of them at the time were spec homes; they were all custom," Tamburello said. "These were families buying land, building a custom for themselves over $1 million - in some cases $2 million, $3 million - all in Highland."
Read more of John Mossman's story in the Denver Post.
(Copyright 2013 The Denver Post)