Cherry Creek North - Denver CO Real Estate - 389 Homes For Sale | Zillow (2024)

FAQs

Is it a good time to buy a house in Denver? ›

The data suggests a balanced market, with continued growth but at a slower pace. Factors like a strong job market and desirable quality of life will continue to attract buyers to Denver. However, rising mortgage rates and increasing inventory levels may cool off the market from the frenzied pace seen in previous years.

Denver's median sale price is 40% higher than the national average. Overall cost of living in Denver is 10% higher than the national average. Learn which home features in Denver add value to a home.

Prices Have Been Flat Over the Past Year

According to the latest data from Zillow, the median home price within the Denver real estate market was around $550,000 last month. That's roughly where it was one year ago. This is another trend that could benefit Denver home buyers in 2024.

Cherry Creek is a neighborhood in Denver, Colorado with a population of 6,153. Cherry Creek is in Denver County and is one of the best places to live in Colorado. Living in Cherry Creek offers residents an urban feel and most residents rent their homes.

Denver is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Denver Country Club

With a median home price of $2,949,082 and a median rent of $1,481, Denver Country Club is the most expensive neighborhood on our list. Based on the growth in home prices in Denver Country Club over the last 3 years, it ranks No. 1 among all the neighborhoods in Denver.

From 2010 to 2020, the population of Denver grew by almost 20%. Now, the city is facing both housing and labor shortages. Denver needs more workers to come in and fill job openings, yet it's already short 70,000 homes.

Denver Housing Market Forecast

Housing prices may decline as inventory increases from the historically low supply levels in 2021. Properties in the premier and luxury categories with a listing price above $500,000 will likely see the most significant reductions and remain on the market longer.

Average Home Prices: The average median home price in Colorado is $591,400, up by 8.2% YoY. In 2024, the median sale price will keep increasing marginally due to CO's tight inventory. The sale-to-list price ratio is at 98.1%.

What is the future of Denver real estate? ›

Home prices in Denver are expected to see a modest decline of about 5.1%, and sales growth may decrease by 15.3%. This forecast suggests a possible easing of conditions, potentially unlocking inventory and moderating home-price appreciation, making transactions more feasible for both buyers and sellers.

$574,826. The average Denver, CO home value is $574,826, up 0.2% over the past year and goes to pending in around 13 days.

Cherry Creek is an affluent residential district with a beloved shopping and dining scene.

The cost of living index for housing estimates the cost of housing in Cherry Creek to be 128.8% of the national average. This makes it one of the more expensive cities in the US.

In 2022, Cherry Creek, CO had a population of 11.2k people with a median age of 42.6 and a median household income of $146,583.

In May 2024, 30.2% of homes in Colorado sold above list price, down 5.4 points year. There were only 34.0% of homes that had price drops, up from 30.0% of homes in May last year. There was a 99.3% sale-to-list price, down 0.53 points year over year. …

As expected, starter homes in Denver are more affordable than the average home (all price brackets combined; see methodology for details). In order to afford any median-priced home in the area, you'll need to make $158,187 (as of October 2023).

Denver has been one of the fastest-growing metro areas in the United States for years. It stands out for ranking among the top ten in quality of life, as well. That is reason enough for many potential real estate investors to consider buying Denver investment properties.

During a traditional recession, the Fed will usually lower interest rates. This creates an incentive for people to spend money and stimulate the economy. It also typically leads to more affordable mortgage rates, which leads to more opportunity for homebuyers.