Cherry Hills Homes for Sale

In September 2024, home prices in Cherry Hills Village experienced a 4.1% increase year-over-year, with a median sale price reaching $3.1 million. This rise suggests sustained interest and demand in the luxury market despite economic shifts. Homes in Cherry Hills Village are selling notably faster, with an average of just 6 days on the market compared to 32 days the previous year. This rapid turnaround highlights the area’s appeal and the competitive nature of its housing market. However, sales volume saw a slight dip, with 7 homes sold this September compared to 8 last year, indicating limited inventory or a more selective buying process at these high price points. This combination of price growth and quick sales reinforces Cherry Hills Village’s status as a coveted area, likely driven by its exclusivity and desirability.

The Cherry Hills Village housing market is highly competitive, with homes typically selling within just 7 days. Many properties attract multiple offers, and some buyers are even waiving contingencies to secure their place in this sought-after community. On average, homes sell for about 4% below the list price, with most going under contract within a week. In the case of particularly desirable "hot" homes, sales often occur at or near the list price, with these homes going pending in as few as 5 days. This rapid market movement and competitive offer environment reflect both the high demand and limited availability in this luxury neighborhood, underscoring its status as a premier residential area.

Nationwide, 1% of homebuyers are looking to relocate to Cherry Hills Village from outside metropolitan areas, highlighting its appeal beyond the local market. Houston leads the list of cities where potential buyers are most interested in moving to Cherry Hills Village, followed closely by Los Angeles and San Francisco. This interest from major urban centers suggests that Cherry Hills Village is attracting high-net-worth individuals seeking the exclusivity, lifestyle, and luxury that the area offers. The strong interest from buyers in these prominent metros may be driven by Cherry Hills Village’s blend of scenic beauty, high-quality amenities, and peaceful suburban charm, making it an attractive option for those seeking a prestigious community outside of bustling city environments.