The real estate market price change map above shows Cherry Creek home sale statistics and Cherry Creek real estate trends for January 2012. In this article I will explain what is happening in the Cherry Creek real estate market.
January 2012 Cherry Creek Real Estate Market Statistics
- The average days on market (DOM) was 120 days for Cherry Creek Denver which is the average time it takes a Cherry Creek home to sell. This is above average Denver neighborhoods but is typical for homes priced over $500,000.
- There was a negative 7% year-over-year price change for Cherry Creek Denver.
- $814,000 is the current average price of Cherry Creek homes for sale as of January 2012.
- 64 homes sold in Cherry Creek Denver from January 2011 to January 2012 .
- There are currently 50 active Cherry Creek homes for sale as of January 2012.
- There are 9.3 months of inventory available in Hilltop Denver. A healthy market has 6 months of inventory or less which means that the Cherry Creek real estate market is unhealthy as of January 2012. The Cherry Creek real estate market appears to be a buyers market at this time.
As you can see from the map above, in the Cherry Creek real estate market, prices have gone down over the past year. It is taking a while to sell a home in Cherry Creek Denver, Colorado, four to five months from listing to sale.
It’s a great time to be a buyer of Cherry Creek homes for sale. Interest rates are at all-time lows and Cherry Creek is a beautiful established Denver neighborhood with very nice, larger older homes and newly built homes. Cherry Creek is conveniently located very close to downtown Denver.