Greetings from Cherry Creek. As you are probably aware 2015 was a banner year for real estate in Central Denver. From the depths of the Great Recession we witnessed a true market reversal. The Country Club neighborhood continued to witness strong growth concerning prices. Of note, the average sales price was just under $1M, a significant amount within Metropolitan Denver. Below is a recap of 2015 real estate activity from our Multilist Service:
Country Club: 1st Avenue to 8th Avenue, Downing Street to York/University Blvd:
Average Home Sold: 4 Bedrooms/3 Bathrooms)
Average Size: 2,373 SF Above Grade / 3,417 SF Total
Average Days on Market: 41
Average Price: $983,520
Of interest, Country Club is truly a collection of smaller unique sub-neighborhoods. In general homes south of 3rd Avenue and east of Gilpin Street commanded the highest prices due to lot and home size coupled with location.
The homes sold in the 400 and 500 blocks from Downing Street to Gilpin St enjoyed serious equity appreciation with a few sales generating 30%+ appreciation from 2-3 years prior sans renovation or updating.
North Country Club considered the neighborhood between 6th and 8th Avenues from Downing to York St. continued to prove popular providing buyers with larger homes and lots when compared to their south of 6th neighbor’s and generating increasing values. Of note from Williams St east includes the 7th Avenue Historic District. In general Historic Districts command higher prices and resale values.