Kentwood Real Estate has released the company’s comprehensive real estate statistics for June 2015 for condominiums in downtown Denver, single-family homes, luxury residences, and market data for Greenwood Village, Cherry Hills Village, and the Cherry Creek neighborhood, three of metro Denver’s most desirable neighborhoods. Colorado’s Premier Real Estate Company currently enjoys a leading market share ranging from 18 to 36 percent in most of Denver’s preferred neighborhoods. Following are details for June.
Downtown Denver Condominium Sales Price Jumps 20.1 Percent
Kentwood Real Estate’s latest real estate market data, which is gathered from the most reliable sources in metro Denver, shows that the downtown Denver condominium sales price increased 20.1 percent over the same period last year to $530,024. The number of closed sales dropped two percent from June 2014 to 48.
Closed sales volume was $25,441,160 for June, a drop of 17.7 percent. The highest sold price in June was $1,600,000. The statistics show a total of 51 downtown Denver condominiums under contract in June and a total of 82 condos currently active.
Average days on the market decreased nearly 31.4 percent in June to 48 days compared to June 2014. For those seeking a carefree lifestyle downtown, Kentwood City Properties is conveniently located across from Union Station and visitors are welcome. You can enjoy open houses nearly every week and also enjoy virtual tours on the company’s leading website.
“The downtown condo market remains tight because of no new builds,” said Heather Ehret-Faircloth, a leading Broker Associate with Kentwood City Properties. “Buyers appreciate views, outdoor space, and location, and they are paying top dollar when they can get all three attributes. Unit 2930 at the Four Seasons with 1,940 square feet, recently sold for $1.6 million furnished. A property at the Spire, listed at $749,900, had all three key attributes and went under contract in three days.
“Sellers still need to be realistic, however,” Ehret-Faircloth continued. “If a condo is dated, does not have outdoor space, has parking issues or a less desirable location, it is imperative that it is priced appropriately. Gone are the days of pricing with room to negotiate. Be realistic about any objections, price appropriately, and you will obtain the highest price in this market.”
Market Recap for The Villages Shows Closed Sales Down 22.2 Percent
Kentwood Real Estate has released its latest real estate market statistics for Cherry Hills Village and Greenwood Village for June 2015. Closed sales in June dropped 22.2 percent from June 2014, with the average sold price at $1,481,976. The highest sold price in June was $3,850,000, while the average number of days on the market increased 24.4 percent to 97.
Currently there are 127 residential listings and 36 land listings in Cherry Hills Village and Greenwood Village. Kentwood Real Estate enjoys a 32 percent market share with 52 active listings. Average price per square foot in The Villages decreased 11.9 percent to $353 from the previous year. There are 127 active listings and a total of 36 homes currently under contract.
There were two closed land sales in The Villages in June for a total of $2,970,000, an increase of 375.2 percent over June last year. The average number of days on the market for land sales is 408 year to date.
Average Sales Price for Cherry Creek Neighborhood Increases 15.9 Percent in June
The average residential sales price for homes in Denver’s Cherry Creek neighborhood increased 15.9 percent to $949,321 compared to June 2014, according to data gathered by Kentwood Real Estate. The number of days on the market in June increased 57.6 percent to 52, with closed sales volume totaling $13,290,500 for a 15.9 percent drop from June 2014.
Closed residential sales remained constant at 14, with the highest sold price year to date at $2,000,000. The average sales price last year was $938,051 for a 10 percent increase.
Condominium sales for Cherry Creek increased 37.5 percent over June 2014, with an average sales price of $514,051. The highest sold price was $1,740,019. Closed condominium sales volume was $26,954,703 in June. Average days on the market for June was 83 or a decrease of 6.7 percent from June 2014.
There are currently 61 residential and condominium listings in Cherry Creek and a total of 22 active listings. Kentwood Real Estate has a 36 percent market share in Cherry Creek.
Luxury Market Recap from Kentwood Real Estate Shows a Total of 776 Million Dollar Listings in Metro Denver
Kentwood Real Estate’s June 2015 Luxury Market Recap for residential and condominium properties shows a total of 776 million dollar listings in metro Denver, with Kentwood Real Estate enjoying an 18 percent market share with 138 active million dollar listings.
Closed sales for single-family luxury homes increased 45.2 percent in June 2015 compared to June last year. Average days on the market decreased 2.6 percent to 90, while the average sold priced decreased 13.9 percent to $1,397,969. The highest sold price was $3,850,000, with total sales volume increasing 25.1 percent to $170,552,170. There are a total of 741 active residential listings and a total of 186 million dollar properties under contract.
Luxury condominium sales in June averaged 130 days on the market, which was identical to the same period last year. The highest sold price was $1,740,000, while the average sales price decreased 12.2 percent to $1,386,200. Total sales volume for luxury condos was $6,931,000. There are 35 active listings and 12 currently under contract.
Kentwood Real Estate is dedicated to building on its legacy of being “Colorado’s Premier Real Estate Company” through the highest producing, most knowledgeable, caring and experienced brokers in the country who offer the highest quality customer service experience. Kentwood Real Estate is an innovator known for unparalleled marketing strategies and superior Internet technology that places its clients in the best possible position. The company’s brokers each averaged more than $12 million in sales volume annually, which is ranked number one nationwide by the National Association of Realtors and REAL Trends.
Kentwood Real Estate is comprised of Kentwood Real Estate DTC, Kentwood Real Estate Cherry Creek, and Kentwood City Properties in downtown Denver. For more information, visit Kentwood Real Estate online at www.DenverRealEstate.com