Cherry Creek isn’t for everyone, but it might be perfect just for you. Why do I think so? Well, for starters, there’s a little bit of everything for everyone. While the average list price at the end of 2011 was $912,545, the median price was way down around $490,000. What this tells us is that there are quite a few very expensive luxury homes in the Cherry Creek market, but most of the neighborhood’s properties are much more affordable. Granted, while Cherry Creek’s real estate market is more expensive than most Denver homes for sale, I still believe there is something for everyone.
Another telling statistic is the sharp decrease in median and average home prices over the last few years (currently down 14% and 2.6%, respectively). This has nothing to do with the intrinsic value of the homes themselves, but rather the Denver real estate environment. The houses are great and the prices are going down–this is great news for you and anyone else wanting to make a luxurious Denver, Colorado relocation.