Cherry Hills Champaign

I've lived in Cherry Hills for almost 10 years and follow sales trends very closely. Since I work with both buyers and sellers, I've seen a lot of homes in our neighborhood and can tell you what is selling for a premium vs what is selling at a discount. Hopefully this page will give you some insight into what our homes are selling for these days.

We compete with several nearby neighborhoods when listing our homes, and I'm working on similar analysis for those neighborhoods. If you're interested in learning more about what your home is worth or what similar homes are selling for in the Meadows, Ironwood, or other subdivisions give me a call or fill our the contact form on my website.

Cherry Hills sales data 3Q2016

 

Address Listing Price Selling Price #Days on Mkt  Age Basement Sqft Total Sqft* $/Sq Ft
2705 CHERRY HILLS DR 229900 225000 88 26 582 1722 131 B
3108 CHERRY HILLS DR 269000 264000 68 20 994 2666 99
3516 CYPRESS CREEK 268000 205000 93 14 1208 2448 84 A
2904 WYNSTONE DR 320000 312000 21 15 865 3261 96
2908 WEDGEWOOD DR 289900 277500 52 27 1095 2851 97
3413 WATERVILLE CT 279413 275000 7 13 1158 2307 119
2608 APPLEWOOD RD 199900 180000 7 28 0 1856 97
3301 WEEPING CHERRY DR 275000 264550 43 12 1769 2314 114
2707 WOODRIDGE RD 250000 247000 9 23 1332 2361 105
2605 WORTHINGTON DRIVE 229900 227500 9 24 0 2154 106
2703 LAKEVIEW 362000 362000 0 26 1994 1994 182 B
2614 WEDGEWOOD 279900 279900 3 21 1320 2332 120
2813 CHERRY HILLS DR 259500 251000 3 25 0 3417 73
3515 CYPRESS CREEK 259900 256900 36 15 1119 2301 112

A - This property was a short sale, which accounts for the low price and steep discount.
B - These were ranch homes with finished basements, which accounts for the increased price per sq ft.

* - MLS excludes basement sq ft from the calculation of total sq ft.

Information deemed reliable but not guaranteed

Cherry Hills sales data 1/1/2016 to 6/30/2016

Some observations about sales in the first half of 2016

  • Selling price is within approx 3% of listing price (you must price your home right!)
  • The average days on market was 33. This is probably NOT because of a shortage of inventory.
  • Only 20% of the homes sold for over $300k
  • The average selling price was $256k

If you look at the facts behind these numbers, one thing is very clear. The homes that sold the fasted were priced well and the homes that took the longest to sell had to go through several price reductions. For instance, the fastest selling home (2501 Applewood) sold for the original list price with no reductions. The slowest selling home (2815 Cherry Hills) had several price reductions and ultimately lowered their price by 15% to get to their final sales price. There is a common saying in sales ... "It's worth what someone is willing to pay for it." This is one reason you really need a realtor to help you sell your home. Our homes are special to us, and it's difficult for us to look at our own home valuations without bias.


Address Listing
Price
Selling
Price
#Days
on Market
Age Basement
Sqft
Total Sqft*
3114 CHERRY HILLS DR 287900 276000 84 18 0 3607
2815 CHERRY HILLS DR 250000 227000 114 25 835 2396
3504 CYPRESS CREEK RD 324900 311000 46 17 0 3400
2501 APPLEWOOD RD 210000 210000 2 29 0 2006
2401 LAKEWOOD DR 225000 211000 21 28 0 2458
2509 CRIMSON 385000 378000 13 13 1764 2866
2409 CHERRY HILLS DR 239900 239000 11 28 0 2696
2506 CHERRY HILLS DR 229900 224000 13 23 0 2421
3115 CHERRY HILLS DR 244900 239000 6 18 0 2463
2706 BAYHILL DRIVE 249900 245000 15 18 0 2482

* - Total sq ft excludes basement

Information deemed reliable but not guaranteed

 

Cherry Hills sales data for 2015

Some observations about 2015 sales ...

  • Homes sold within 3% of their listing price
  • The average days of market was 78 (but there is quite a spread)
  • Only 28% of the homes sold for over $300k
  • The average selling price was $267k
Address Price Listing Price Selling #Days
on Market
Age Basement  Sqft Total Sqft*
3000 WEEPING CHERRY DR $ 389,900 $ 377,000 290 14 1671 3141
2704 WILLOW BEND RD $ 359,000 $ 346,500 35 21 1761 3305
3213 CHERRY HILLS DRIVE $ 359,750 $ 340,000 80 17 1189 3295
3306 WYNSTONE DR $ 349,900 $ 340,000 6 11 1320 2674
3203 CHERRY HILLS $ 355,000 $ 337,500 102 14 1786 3791
3506 CYPRESS CREEK RD $ 347,000 $ 332,500 14 17 0 3932
2503 PINEHURST DRIVE $ 334,500 $ 326,500 111 14 1571 2829
2903 WYNSTONE DR $ 339,900 $ 325,400 223 12 1665 3098
3402 WEEPING CHERRY CT. $ 325,000 $ 312,000 11 12 1360 2517
2516 HALLBECK $ 305,000 $ 298,000 2 14 1144 2501
3213 WEEPING CHERRY DRIVE $ 299,900 $ 293,000 56 12 1212 2459
2702 CHERRY HILLS DR $ 305,000 $ 285,000 34 22 0 3034
3218 CHERRY HILLS DR $ 296,999 $ 284,800 221 14 1347 2626
2805 CHERRY HILLS $ 269,900 $ 267,500 6 24 0 2720
3211 CYPRESS CREEK RD $ 269,000 $ 265,000 3 16 1255 2541
3105 CHERRY HILLS DR $ 264,900 $ 259,900 12 20 0 2534
2813 WOODHAVEN DR $ 258,500 $ 256,500 39 23 0 2858
2518 CRYSTAL TREE DRIVE $ 259,000 $ 255,000 121 11 1179 2309
2412 WATERVILLE DR $ 256,000 $ 249,000 48 13 1093 2267
2908 TIMBERGATE RD $ 249,000 $ 245,000 65 21 1107 2311
2603 COVE CREEK PLACE $ 249,900 $ 240,000 250 20 1050 2312
2804 WOODRIDGE ROAD $ 239,900 $ 237,500 25 22 0 3113
2504 COPPERTREE RD $ 235,000 $ 225,000 0 28 0 2526
2505 CRYSTAL TREE DR $ 229,000 $ 225,000 15 13 0 2034
3404 WEEPING CHERRY CT $ 227,500 $ 221,000 39 11 0 1999
2505 CRYSTAL TREE DR $ 214,500 $ 214,500 5 13 0 2034
2414 CHERRY HILLS DR $ 214,999 $ 209,900 274 27 1073 2585
2803 WOODHAVEN DR $ 214,900 $ 206,000 57 25 0 2051
2404 CHERRY HILLS DR $ 210,000 $ 205,000 189 27 0 2214
2707 CHERRY HILLS DRIVE $ 199,000 $ 195,000 44 25 0 1976
2401 LAKEWOOD DR $ 199,900 $ 194,495 4 27 0 2458
2504 WOODRIDGE RD $ 199,900 $ 190,000 101 27 0 2125

 

* - Total sq ft excludes basement

Information deemed reliable but not guaranteed

Staging Your Home

When you select a realtor to help you get your home sold, wouldn't you like to have someone with an eye for design and appreciation for budget? I'm happy to provide you with a no obligation comparative market analysis and design tips that will help you get your home sold. Contact me today to get started!