05 Aug Cherry Creek Neighborhood 2nd Quarter Real Estate Market Update
Here are the real estate market statistics for the 2nd quarter of 2018 for the Cherry Creek neighborhood.
The neighborhood’s median selling price was $323,950 with 20 closed sales and 12 active listings.
Days on market was only 6 days with another 31 days to close. That 6 days on market is super fast considering the Austin area’s overall days on market for this same time period was 36 days with another 33 days to close. So that tells me that buyers are attracted to this neighborhood and also that these buyers were ready to move when the opportunity for the house they wanted came on the market. So they were already pre-qualified and pre-approved or they were able to do this lightning quick.
Months of inventory was only 1.7 months and just to give you some perspective the overall Austin area inventory was 2.3 months in this second quarter.
As far as price distribution, the $300,000 to $400,000 price range is where 75 percent of the sales took place. Then 20 percent took place between $200,000 and $300,000. Home selling between $400,000 and $500,000 took the remaining 5 percent of the sales in this quarter.
Let me know if you have any questions. You can email me here through the contact page on my website or you can direct message me through my Facebook business page. I do personally respond to all my messages.
Have a great week!
Your friendly neighborhood Realtor,