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Real Estate Prices & Overview

Cashell Manor / Cherrywood median real estate price is $764,850, which is more expensive than 84.5% of the neighborhoods in Maryland and 82.7% of the neighborhoods in the U.S.

The average rental price in Cashell Manor / Cherrywood is currently $3,425, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.4% of the neighborhoods in Maryland.

Cashell Manor / Cherrywood is a suburban neighborhood (based on population density) located in Olney, Maryland.

Cashell Manor / Cherrywood real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Cashell Manor / Cherrywood neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In Cashell Manor / Cherrywood, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Cashell Manor / Cherrywood is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Olney, the Cashell Manor / Cherrywood neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Cashell Manor / Cherrywood neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

In addition, most neighborhoods are composed of a mixture of ages of homes, but the Cashell Manor / Cherrywood stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 94.2% of the residential real estate here was built in this one time period.

Furthermore, if you love row houses and attached homes, you will probably really like the Cashell Manor / Cherrywood neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 32.4% of the residential real estate here is classified as row houses and attached homes.

Also of note, one way that the Cashell Manor / Cherrywood neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 96.2% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

People

If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 2.1% of America's neighborhoods are wealthier than the Cashell Manor / Cherrywood neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.

Diversity

Did you know that the Cashell Manor / Cherrywood neighborhood has more Russian and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.5% of this neighborhood's residents have Russian ancestry and 2.1% have Portuguese ancestry.

Cashell Manor / Cherrywood is also pretty special linguistically. Significantly, 4.2% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 98.2% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Cashell Manor / Cherrywood neighborhood in Olney are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 97.9% of the neighborhoods in America. In addition, 6.8% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 59.3% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Cashell Manor / Cherrywood neighborhood, 60.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 13.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (13.1%), and 12.7% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Cashell Manor / Cherrywood neighborhood is English, spoken by 66.2% of households. Other important languages spoken here include Spanish, African languages, Korean and Portuguese.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Cashell Manor / Cherrywood neighborhood in Olney, MD, residents most commonly identify their ethnicity or ancestry as Irish (10.2%). There are also a number of people of Asian ancestry (8.8%), and residents who report Russian roots (7.5%), and some of the residents are also of Italian ancestry (6.9%), along with some German ancestry residents (6.5%), among others. In addition, 24.8% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Cashell Manor / Cherrywood neighborhood spend between 45 minutes and one hour commuting one-way to work (34.8% of working residents), longer and tougher than most commutes in America.

Here most residents (62.7%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (5.4%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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