Current Market Trends in Cherry Hills Manor, Colorado

Cherry Hills Manor, a distinguished part of Centennial, Colorado, mirrors the robust and competitive real estate trends of its larger metropolitan area. While focusing on Cherry Hills Manor, it's insightful to note the overarching trends of Centennial to understand the broader market context. In October 2023, the Centennial housing market displayed a marked increase in median home prices, up 5.2% from last year to $653,000. Additionally, the median sale price per square foot rose to $247, reflecting a 2.5% increase.

Homes in Centennial, including those in Cherry Hills Manor, are in high demand, with properties receiving an average of 2 offers and selling typically within 13 days. This brisk selling pace, only marginally quicker than last year's 12 days, signifies a persistently active market.

Market Heat and Competition

The real estate climate in Cherry Hills Manor aligns with Centennial's highly competitive nature. Properties frequently receive multiple offers, sometimes even waiving contingencies, highlighting the urgency among buyers. Homes generally sell for about 1% below the listed price, moving to pending status within an average of 13 days. In hotter scenarios, homes in Cherry Hills Manor, as in the wider Centennial area, can command around 1% above the list price and go pending in as little as 4 days.

Migration and Relocation Trends

In the period from August to October 2023, Centennial experienced significant migration trends, which inevitably influence Cherry Hills Manor. About 31% of homebuyers in the area looked to relocate elsewhere, whereas a substantial 69% sought homes within the metropolitan confines, indicating a strong preference for staying within the region.

Cherry Hills Manor's Appeal

Cherry Hills Manor, nestled within Centennial, draws interest from across the country, with 2% of homebuyers nationally looking to move into the area. This interest primarily originates from metros like Colorado Springs, San Francisco, and Los Angeles. On the other hand, those leaving the Centennial area, including Cherry Hills Manor, often consider destinations like Chicago, Fort Collins, and Breckenridge.

Let Me Help You Get Your Dream Home

Cherry Hills Manor, with its unique charm and community feel, benefits from the vigorous and competitive market of Centennial. If you are considering buying or selling a home in Cherry Hills Manor, understanding these trends and market dynamics is crucial. With my expertise in both Cherry Hills Manor and the broader Centennial area, I am well-equipped to guide you through the intricacies of this market. Reach out to me for personalized service and assistance in navigating the Cherry Hills Manor real estate landscape, ensuring your decisions are well-informed and strategic. Let’s work together to find your ideal home or sell your property in this desirable community.