Upscale shopping, fine restaurants, a bustling farmers’ market and a unique blend of residence options make Cherry Creek real estate a special place. Although it has a justifiable fame as one of Denver’s most expensive neighborhoods there are housing options that are considerably less than the $1 million benchmark.
Cherry Creek is one of the most affluent neighborhoods in Denver. It is also one of the most beautiful with quiet tree-lined streets with a mix of condos, townhouses and detached homes. There are many new builds and, as a surprise to many, lots of remnants of the early 20th century. Cherry Creek real estate has an interesting selection of retail and commercial space. This provides for an eclectic neighborhood where walking is possible. According to “Walk Score” it is the 4th most “walkable” neighborhood in Denver. The quiet streets, proximity to parks, the varied shopping and dining alternatives make Cherry Creek a special neighborhood.
Cherry Creek real estate has maintained high prices, but the difference between Cherry Creek values and those of other neighborhoods is falling. The absolute number of available buyers at the top of the market pyramid is obviously less than the broader base and the recent economic difficulties have had a chilling effect on the motivation to buy of this segment.
Because of the distinct segments prevalent in Cherry Creek any analysis must account for them. Pursuant to that end we will look at attached single family homes and detached single family homes in separate analyses.