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The housing market in Cherry Hills Village is highly competitive. Last month, the average sale price for a home in Cherry Hills Village reached $2.3 million, which represents a 28.8% decrease compared to the previous year. Additionally, the average sale price per square foot in Cherry Hills Village now stands at $469, reflecting a 14.8% decrease from the prior year.
Median Sale Price
Median Sale Price per Sq. Ft.
Total Homes Sold
Median Days on Market
In February 2024, the real estate market in Cherry Hills Village witnessed a significant decrease in home prices, with a 28.8% drop from the previous year, bringing the median sale price to $2.3 million. The time it took for homes to sell extended to an average of 86 days on the market, an increase from the 64 days recorded last year, indicating a slowdown in market turnover. Despite the downturn in prices and extended selling periods, the volume of transactions remained stable with 10 homes sold, mirroring the sales figure from the same month last year.
This stability in sales volume amidst declining prices and longer sales durations could suggest that buyers are finding value at the adjusted price points, potentially signaling a market adjustment phase where both buyers and sellers are recalibrating their expectations in response to broader economic conditions.
The real estate market in Cherry Hills Village is intensely competitive, with homes typically going under contract in just 15 days. It's common for properties to receive multiple offers, and some buyers are even waiving contingencies to make their bids more attractive. On average, homes are selling for approximately 2% below the asking price and become pending within the same 15-day span. The most sought-after, or "hot," homes can sell at about their listed price and move to pending status in merely 3 days, underscoring the high demand and fast-paced nature of the market in this area. This dynamic suggests that buyers are highly motivated and ready to act quickly, often in ways that make their offers stand out in a competitive landscape.
For detailed, up-to-date information on buying a house in Cherry Hills Village, including legal considerations and market trends, you can talk to us.
Cherry Hills Village is known for its luxurious homes, spacious properties, and prestigious community atmosphere. It offers a serene and upscale living experience, with ample green spaces and a strong sense of community.
The area boasts a variety of high-end homes, including custom-built estates, contemporary residences, and expansive single-family homes with large lots.
On average, homes in Cherry Hills Village have been selling for about 2% below list price. Nevertheless, highly desirable or "hot" homes may sell for around the list price, indicating a competitive market where some properties are in higher demand.
Generally, homes in Cherry Hills Village sell after about 15 days on the market. However, the most sought-after homes can become pending in approximately 3 days, highlighting the area's demand and market velocity.
Ensuring your home is well-maintained, staging it professionally, and setting a competitive price are key strategies to attract buyers in this high-end market.
Market conditions can vary, but the enduring appeal of Cherry Hills Village often makes it a good time to buy for long-term investment. Sellers can benefit from the competitive market, particularly if their properties are highly desirable.
Whether you're eyeing your dream home or have questions about the competitive landscape, Lisa is your go-to expert. With unparalleled knowledge and dedication, Lisa ensures a seamless journey from browsing to buying. Don't miss out on your perfect property in Cherry Hills Village. Connect with Lisa today and take the first step towards making your real estate dreams a reality!
From scenic beauty to prestigious homes, this guide is your key to exploring all that Cherry Hills Village has to offer. Whether you're considering a move or simply curious about this upscale community, our guide provides insights into the local lifestyle, amenities, and the real estate market. Dive into the heart of Cherry Hills Village and imagine the possibilities.
