LIV Sotheby’s International Realty real estate broker Jeff Hendley, has an impressive resume in Denver’s real estate business. In one of the most talked about real estate transactions of 2016, Hendley sold Cherry Creek’s contemporary, 333 Milwaukee Street residence, for a staggering $7,000,000. He has followed that record-breaking transaction with his most recent deal, the $6,500,000 sale of 575 Circle Drive, a Tudor-style home located in Denver’s Historic Country Club neighborhood. Each transaction represents the highest priced home sale in the Denver area – sales achievements Hendley has captured, two years running.
“These are big sales in Denver- and while the high-end is a very small segment of the overall market, they represent continued confidence in the Denver economy,” said Jeff Hendley, LIV Sotheby’s International Realty. “With all the positive energy in Denver right now, booming construction and robust consumer spending, I see no reason why Denver’s prices will not continue upward. I will certainly continue doing everything I can to make that happen.”
As in most major economic sectors, there are distinct trends in the real estate business. In Denver, the real estate market is unique, as it offers Buyers and Sellers a variety of options within a very diverse market.
“Denver real estate offerings are varied; large vs small acreage, historic vs modern homes, styles of traditional vs transitional, in addition to location-driven trends, like suburban vs urban areas,” said Hendley. “Denver seems to be in the heightened stages of embracing the modern looking home trend; homes with sleek lines, large windows, grey colors and a minimalist interior. However, to acquire homes with larger lots, mature trees and privacy, the historic Tudor and English Country architecture continue to trade consistently. A desire for proximity to the city has become more prevalent in recent years with homebuyers gravitating towards smaller homes, less maintenance and walkability.”
According to market data released by LIV Sotheby’s International Realty, six homes traded for over $5,000,000 in 2017, with 575 Circle Drive being the only sale to top $6,000,000. 2016 saw similar activity, with four sales ranging from $5,000,000 to $5,600,000, and then, 333 Milwaukee shattering sales prices with its $7,000,000 price tag.
“Trends in real estate are exciting, especially when we see condos trading over $1,000 per square foot in Cherry Creek and Downtown. It’s another testament to the adage, ‘If You Build It, They Will Come’,” Hendley states. “However, developers, architects and designers must be more thoughtful than ever when it comes to marketing to today’s buyers. Their products have to be high-quality. Builders must strategically focus on the floor plan and cannot sacrifice critically important areas, like master closets. And, homes must be priced correctly. Buyers will pay for what they want, but will see right through the offerings of those that cut corners.”
One of the top brokers at LIV Sotheby’s International Realty, Jeff Hendley consistently ranks among the top of all brokers in the Denver Metro area. He focuses on high-quality property in key locations and has the highest average sales price in Denver, at over $2,500,000.
“It’s no wonder Hendley does such great business,” said a Denver-area broker Katie Hoster, who represented the buyer of 575 Circle Drive. “His clients love him. He has a great personality, is super fun to be around, and not only does he list beautiful and expensive homes, he actually sells them- all while wearing flip-flops. That’s who he is. I love doing deals with him!”
For more information, contact broker, Jeff Hendley, LIV Sotheby’s International Realty, at 303.877.6767. To buy or sell your home with LIV Sotheby’s International Realty, visit www.livsothebysrealty.com or call 303.893.3200.