The real estate in Cherry Creek is known for its luxurious properties and surroundings, but that doesn’t mean it’s a neighborhood only the rich can afford to inhabit. There are homes available for families of all different sizes and financial resources. If you aren’t particularly well-to-do, consider this a blessing, as Cherry Creek, Colorado is a perfectly lovely place to live.
Living in Cherry Creek
Cherry Creek, Colorado, is located in south-central Denver, which gives its residents plenty of opportunity to experience the daily pleasures of city life while still being able to tuck in at night in a quiet and peaceful neighborhood.
Cherry Creek is famous for its wealthy denizens and multi-million dollar houses, but there’s more stereotype than truth to that description. In fact, a variety of families are able to live in and afford life in Cherry Creek.
The schools are excellent (learn more about Park Hill schools), the shopping is unbeatable, the land is gorgeous, and the people are decent–what more could you want from your new neighborhood?
Over the last few years, Cherry Creek-area schools have won numerous awards for their excellence in performance and distinction in improvement, including:
- Governor’s Distinguished Improvement Award
- John Irwin Award
- Best of Aurora Award
- High marks on the School Performance Framework
In other words, if you were worried about getting your kids into a good school in Cherry Creek, you can quit it now.
Perhaps more than its wealthy residents and Denver luxury homes, Cherry Creek is most famous for its shopping. The Cherry Creek Shopping Center and Cherry Creek North offer some of the best and grandest shops in the region. You can browse in or buy from such recognizable names as Tiffany & Co., Coach, Louis Vuitton, and a number of other places that are equally spendy or far more thrifty.
Cherry Creek is a tributary to the beautiful South Platte River and it runs right along the neighborhood’s southern border. Denver isn’t in the mountains, but you can still see the gorgeous Rockies from Cherry Creek quite nicely. For those who really love the outdoors, there’s even a 22-mile trail for bikers, skaters, and joggers called the Cherry Creek Path.
The people of Cherry Creek are certainly well-educated and friendly, but they also have a finger on the pulse of today’s best art and recreation. In Cherry Creek North, for instance, there are no less than 320 art galleries, spas, boutiques, restaurants, cafes, and shops. The folks who live here are, above all, cultured.
Cherry Creek Real Estate Trends
The real estate in 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.
For more information regarding real estate in Cherry Creek, contact Brian MacMillan today.