The local housing market is working to continue it’s slow and uneven recovery and this includes Cherry Hills in Southwest Champaign. The information below is taken from MLS data between September 9th and December 9th of this year
There are currently 20 homes listed for sale in Cherry Hills plus 4 pending sales. (Pending sales are homes that have accepted a purchase contract and are working through inspections and appraisals prior to the closing). In the last 6 months we have had 9 closed sales which translates to a 13+ month supply of homes for Cherry Hills. This definitely represents a buyers’ market and a bit of a change from what this Champaign subdivision is used to. (See an older post on Champaign Subdivisions)
There have been 20 closed sales reported in the Champaign County MLS with an average sale price of $264,698 for 2010 (YTD). Sale prices ranged from $360,000 to $177,000 this year with an average of 72 days on the market. Many homes sold as quickly as 2 or 3 days on the market.
2010 Cherry Hills Home Details:
The home sizes ranged from 2050 to 3926sqft with an average of 2673sqft. 19 of the homes were 2 Story properties and one 1 1/2 story. Excluding basement bedrooms, there was one 3-Bedroom home, fourteen 4-Bedroom homes and one 5-Bedroom. Four more homes could claim 5 Bedrooms and one more 4-Bedrooms when including the finished basement space.
Did you know that only 1 of the 20 homes that sold this year featured more than 8 or 9 pictures of the home, its interior and/or backyard? National Association of Realtors statistics clearly show that the more pictures and online tours and videos you post the higher the interest level and number of showings from prospective buyers. If you are thinking of selling, contact me to see our marketing plan and how we work to get your home SOLD!