Looking back at 2016’s Cherry Hills Village Home Sales

January 23, 2017
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What a year it’s been for Cherry Hills Village home sales! 2016 closed
out with 113 sales, or 114 if you want to include the Cherry Hills
Heights neighborhood. That’s an average of about 9.5 homes per month,
which is positive, especially during an election year. In comparison,
2015 saw a total of 125 home sales. The median home sale price for 2016
was $1,675,000 and the cumulative days on market was 111 days (2015 CDOM
was 95). There were 13 homes that were on the market for less than a
day before going under contract! 

The 2016 Sold vs.
List price was 86% which was a slight decrease compared to 2015’s  91%.
The per square foot averages for the year were: $412 psf above grade,
$289 psf total, and $308 psf finished. The highest recorded sale for
2016 was the beautiful 16 Sandy Lake Road in Buell Mansion with 7
bedrooms, 15 bathrooms, and 21,320 total sq. ft. closing at $6,530,000
and zero days on market. 

The 2017 housing
market for Cherry Hills Village is off to a great start with a healthy
inventory of 38 active homes for sale and four already under contract
within the first few weeks of the new year. Goodbye 2016 and thank you
for giving future home buyers and sellers the confidence in our market
to produce another strong year! Please don’t hesitate to reach out if
you are looking to purchase or sell in 2017.