February 2016 Market Update for Cherry Creek

Cherry Creek North Market Update:

With the volume of real estate sold in Cherry Creek North increased 288% or from January 2015 to January 2016, the year is off to a strong start.

Three of the sales are attributed to sales at 250 Columbine St. Additionally, 480 Cook St sold for $4.325M.

Now, let’s take a closer look at a few of the notable sales.

480 Cook St (4bd/8ba, 10,026 sq. ft.) half duplex. Built in 2002 by Paul Kobey, the elegant home features 5 fireplaces, elevator, three-car garage, spacious floor plan and over 10,000 sq ft.

250 Columbine St, #601 – $3,273,095. (3 bed / 3.5 bath, 3,361 sq. ft.) is a northwest corner unit with a 1,000+ sq. ft outdoor living patio, western views and three underground parking spaces.

Inventory levels are down year-over-year and I believe 2016 is going to be a repeat of 2015, with homes under $600k moving quickly. $600k will move fast. This is a move-up Buyers market, Buyers are moving up from surrounding areas to live in the Urban Core. Those move-up Buyers now have equity in their homes to support a purchase price in the luxury market and homes price over $800k.

*Not all properties were listed and/or sold by 8z Real Estate. This data is based on content supplied by REcolorado, IRES, PPAR, and/or MLSListings. Content is deemed reliable but not guaranteed. Content may not reflect all real estate activity in the market.

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