Cherry Hills Village CO Home Sales Jun 09
Cherry Hills Village Home Sales are showing some interesting data this time around. First off, this year over 50% less houses have sold than in 2008. There are houses on the market that have been there for over 1000 days. 57 houses on the market as of Aug 1st, 2009 have been on the market for more than 300 days. Prices are in many instances slashed. Especially with the ones that have been on the market for - well forever it seems. One house in June sold for 43% of the original asking price. 43%! That is the lowest at least since Jan 2006 (that's how far back we are tracking). This year SEVEN houses have sold for less than 70% of the original price, which is about 32%. In 2008, in all of 2008 the number was FIVE or 6% of all houses sold. All but one of those were at the latter part of 2008. 
What does this mean. If the intention is to sell ~ PRICING TO SELL IS VITAL! A few houses that were priced right sold within a few days, while for the others the clock on the market keeps ticking. Obviously condition of the home and location are important factors as well, but PRICING is #1.
For the buyers this is great news! There are many great luxury home deals to be had!
Cherry Hills Village, Arapahoe County, CO
| Apr | May | Jun 09 | |
| Closed Sales | 2 | 8 | 6 |
| Average Sales Price | $998,150 | $1,561,419 | $2,591,908 |
| Median Sales Price | $998,150 | $1,243,500 | $2,074,473 |
| % of Original List Price | 97.9% |
76.7% | 73.0% |
| Average Days on Market | 99 | 361 | 446 |
| Average Price /sq ft | $338/sf |
$305/sf | $340/sf |
| Pending | 10 | 10 | 10 |
| Number of Active Listings | 128 |
139 | 137 |
| New Listings | 14 | 18 | 20 |
Days on Market = total days on market.
Cherry Hills Village Home Sales comparison 2009 vs. 2008
From Jan 1st to June 30th (year-to-date)
| Yearly Comparison | 2009 |
2008 |
| Closed Sales | 22 | 40 |
| Average Sold Price | $1,769,832 | $1,512,495 |
| Lowest Sold Price | $596,300 | $801,900 |
| Highest Sold Price | $6,300,000 | $3,950,000 |
| Average % of Original List Price | 78.8% | 90.2% |
| Lowest % of Original List Price | 43.5% | 70.4% |
| Highest % of Original List Price | 100% | 100% |
| Average Days on Market | 336 | 130 |
| Lowest Days on Market | 3 | 0 |
| Highest Days on Market | 1255 | 551 |
| Average Price per Sq Foot | $314/sf | $363/sf |
| Lowest Price per Sq Foot | $202/sf | $640/sf |
| Highest Price per Sq Ft | $476/sf | $163/sf |
As of Aug. 6th, 2009 there are 147 homes for sale in Cherry Hills Village. Search homes for sale in Cherry Hills Village and find Luxury Foreclosures in Denver area - click on the links below.
Feb 2006 to Jun 2009 Closed Sales in Cherry Hills Village
Feb 06 to Jun 09 Average Sales Price in Cherry Hills Village
Feb 2006 to Jun 2009 Median Sales Price in Cherry Hills Village
Feb 06 to Jun 09 Percent of Original List Price in Cherry Hills Village
Feb 06 to Jun 09 Average Price per Square Foot in Cherry Hills Village
Feb 06 to Jun 09 Average Days on Market in Cherry Hills Village
This Cherry Hills Village Market Report is brought to you by Rita Burke, Kenna Real Estate. The report is for detached residential single family homes only and may not include all sales activity in the area. Figures for sold prices used are NET sold price, price after seller concessions or down payment assistance, if they were offered. This report or any part of it may not be used without permission from Rita Burke.
Brian and Rita Burke
Kenna Real Estate
303.955.4220 Office
303.710.2609 Brian Direct
Homes@kennarealestate.com
*Disclaimer: Data based on information from Metrolist, Inc. for period of 1/1/2007 through 8/1/2009. Metrolist Inc. does not guarantee nor is any way responsible for its accuracy. Content maintained by Metrolist Inc. may not reflect all real estate activity in the market. Information is deemed reliable but not guaranteed. Reported sales were not necessarily listed or sold by Kenna real estate and are intended only to show trends in the area.
Disclaimer: Kenna Real Estate Blog does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
Copyright 2009.© Kenna Real Estate. Rita Burke. All Rights Reserved. Aug 6th 2009. "Cherry Hills Village CO Home Sales Jun 09"
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