Feature image: 360 Adams Street, which sold for $1.9 million on Feb. 23.
It’s no secret that the Cherry Creek North real estate market (as with the overall Denver market) is blazing hot. As we head into the spring buying season, I wanted to lay out what the stats say the next few months will be like for our neighborhood and what buyers and sellers should be thinking.
First of all, prices are creeping up and days on market are falling as the already hot sellers’ market shifts favor even more toward the seller side of the scale. In the first quarter, average sale prices inched up 3.6 percent from a year ago to $1.15 million, while days on market plunged approximately a quarter to 62 days from last year.
Buyers and sellers
This means heated buyer demand will continue in the area.
Buyers: know what you want and act quick to secure your Cherry Creek North home this year. Contact me at email@example.com or 720.877.1538 for questions about the market and for how to get the home you want in Cherry Creek North.
Sellers: You have the opportunity to get top dollar on your homes and a great return, especially if you take action and lean into the Cherry Creek North’s ever-growing progressive vibe. This means moving out overstuffed, traditional furniture and staging your main living areas with sleek, modern pieces that showcase the space more than the furniture. Replace the original or ornate dining room chandelier with something youthful. Think Room and Board or Restoration Hardware here.
When it comes time to show, strip the heavy drapes allow natural sunlight to pour into your home. Turn up the speakers and play some fun music for buyers when they tour the home, create a showing experience!
And on the 146th day, there was sale. 360 Adams Street finally sold in the first quarter on February 23 after nearly half a year on the market for $1.9 million. The two-story, four-bedroom, three-and-a-half-bath fully renovated home with attached three-car garage has a superior Cherry Creek location on Adams Street between 3rd Avenue and 4th Avenue.
That’s why I wanted to feature this home — its location. It’s on the northeast edge of the area’s glorious commercial center. One of the reasons the listing languished on the market so long is because the sellers held steady on price and waited for the right noncontingent buyer. The sellers had a point — getting a renovated home in Cherry Creek North under $2 million is hard to find. Also, most Cherry Creek North single-family homes range between 4,500 and 7,000 square feet. So, this home, at 3,777 square feet with no basement, offered a home to a buyer who valued quality over quantity.
It found its buyer, and I’m sure they’ll love having the option to walk to dinner and shopping on a daily basis.
If you would like to learn more about the market or to explore buying or selling in the area, I’d love to talk. Reach out to me at firstname.lastname@example.org or 720.877.1538