This market update contains the current real estate market conditions and statistics for Cherry Hills Village from December 1st, 2013 through December 31st, 2013. The Cherry Hills Village Homes For Sale and Real Estate Market Update is updated monthly.
The highest price home to close in Cherry Hills Village last month was 39 Viking Dr which sold for $3,398,000.
The graph below shows the months of inventory or MOI for Cherry Hills Village Homes For Sale over the last two years. In December of 2011, there was a 20 month supply of inventory of homes for sale. MOI has dropped from this high. In the spring and summer, the MOI averaged around 6 months which is a balanced real estate market. Last month MOI went up to 12 months. This is due to the typical seasonal real estate slowdown. When MOI is over 6 months, the market is a buyers market, when it’s under 6 months, it’s a sellers market. It is currently a buyers market for Cherry Hills Village Homes For Sale. MOI should drop again this spring when buyers start looking for homes again. Spring of 2014 could be a very good time to list your home for sale.
The graph below shows the number of real buyers that closed transactions between 12/1/2013 and 12/31/2013 by price range in millions for Cherry Hills Village Homes For Sale. There were only five closed transactions last month with one closing each in several price ranges.
The graph below shows the number of current listings by price range as of the end of December 2013 for Cherry Hills Village Homes For Sale. There are not currently many homes for sale, making this an ideal time to sell a home in Cherry Hills Village. Call 303.550.8563 today if you’d like a free, no obligation Comparative Market Analysis (CMA) report prepared for your home that will give you an idea of the current value.
The graph below shows the average days on market (DOM) for homes that sold in Cherry Hills Village by price range for December 2013. The DOM is very low at the lower price ranges. Interestingly, the DOM is also fairly low for the highest priced homes in Cherry Hills Village. If you have been thinking about selling your Cherry Hills Village home, contact Metro Denver Luxury Homes today for a free Comparative Market Analysis (CMA) report. I specialize in selling luxury homes in Cherry Hills Village.
The graph below shows the closed sales price as a percentage of list price for Cherry Hills Village Homes For Sale by price range in December 2013. The averages are over 90 percent for all price ranges, which is a good sign of a strong real estate market.
Call 303.550.8563 today or contact a Cherry Hills Village REALTOR® to get started on your Cherry Hills Village Homes For Sale search or to sell a Cherry Hills Village luxury home. We are here to help. We have the experience and the expertise to professionally assist buyers and sellers of Cherry Hills Village luxury homes.