383 Cherrywood Road

Property Overview & Key Characteristics

383 Cherrywood Road is a modern two-storey home in the sought-after Bridgwater Trails neighbourhood. Built in 2019, it offers over 2,000 square feet of living space on a generous 5,496 sqft lot, with an attached garage and an unfinished basement. Its core appeal lies in a compelling blend of relative newness, established community roots, and strong value progression. The home sits on a street-ranked better than 87% of its immediate neighbours for lot size, offering more outdoor space than typical newer builds. While not renovated, its 2019 construction means major systems are likely still under warranty and modern in design.

The property’s history shows a clear and steady appreciation, with sale prices rising from $461k in 2019 to $650k in 2025. This consistent growth, coupled with its current assessed value of $570k being significantly below its last sale price, may indicate perceived upside or a solid investment track record within the area. It would suit first-time buyers looking for a modern, low-maintenance home without the premium of a brand-new build, or value-focused buyers who appreciate a larger lot and see potential in a basement they can customize to their own taste. It’s a practical choice for those who want a home that’s past its initial settling-in phase but is still contemporary, in a mature pocket of a popular community.

Frequently Asked Questions

1. Is the unfinished basement a drawback or an opportunity?
It’s primarily an opportunity. It provides significant storage and the blank slate to add future living space—like a rec room, home gym, or additional bedroom—exactly to a new owner’s specifications without needing to undo previous renovations.

2. How does the 2025 sale price compare to the current assessed value?
The home sold for $650,000 in March 2025, which is notably higher than its $570,000 assessed value. This difference is common and can reflect market dynamics, specific property upgrades not captured in assessment, or the assessed value simply lagging behind recent sale prices.

3. The home was built in 2019. Are there any potential concerns with a house of this age?
A 7-year-old home is past the initial "shakedown" period where most minor construction flaws surface. Major components like the roof, HVAC, and appliances are likely still in good condition but may be nearing the end of manufacturer warranties, so a thorough inspection is always recommended.

4. What does the lot size ranking actually mean for me?
The data shows the lot is larger than 87% of others on Cherrywood Road. In practical terms, this means you likely have more private backyard space, better spacing from neighbours, and more landscaping options compared to many other homes in the immediate area.

5. The sale history shows rapid appreciation from 2019 to 2022. Is that trend sustainable?
While past performance is strong, the more recent sale in 2025 suggests a continued increase in value. The sustainability of future appreciation will depend on broader market conditions, but the home’s established growth pattern within a desirable neighbourhood is a positive indicator.