So far, summer has been hot – and we’re not just talking about the weather. The real estate market in Denver Metro has been heating up ever since the restrictions placed on real estate activity were lifted back in April. Pent up demand from homebuyers accumulating throughout the quarantine period has created an explosion of real estate activity throughout the last few months.
Earlier this summer, pending contracts in Denver Metro were not only up 7.5% from April, but also up an impressive 120.3% from the previous year, according to data from the Metro Denver Market Report compiled by Megan Aller of First American Title. Excited buyers were eager to jump back into the marketplace as soon as they felt it was safe, resulting in many property sales over the last two months.
Consumers have been hungry for homes in the Mile High City. Even the luxury real estate market, defined as homes priced at or over $1 million in the Denver Metro area, has seen success. LIV Sotheby’s International Realty (LIV SIR) was involved in several significant sales of high-priced listings during the month of June.
One of the highest-priced sales that took place last month was the $4,900,000 sale of 14 Village Road. LIV SIR brokers represented both sides of this sale, with Ian Wolfe and Chris Bouc representing the seller and Anne Dresser Kocur representing the buyer. The design of this beautiful, Cherry Hills Village home is inspired by European villas. The backyard provides the perfect pastoral setting to host a summer soiree or simply relax after a long week with its outdoor kitchen, pool, and flower-lined water features that cascade into a pond. Indoors, the home has six bedrooms and grand entertaining spaces including a formal dining room, great room with sky-high ceilings, and a game room with a full bar and billiards table.
In Cherry Hills Village, LIV SIR broker Janet Kritzer represented the sellers of 1701 East Tufts Avenue. This home, which sold for $4,800,000 in June, exudes classic, coastal style, from the cool-toned siding, bright white columns, and stonework accents of the exterior to the abundance of natural light and designer finishes of the interior. Every room of the home is exquisitely engineered to create an elegant and inviting ambiance. In total, there are six bedrooms and nine full bathrooms, including a detached guest cottage that provides plenty of space to host friends, family, and loved ones. The expansive grounds are lush with greenery and offer the ability to keep a horse on the property, making this a truly unique home and living experience.
On the commercial side of the real estate market, LIV SIR brokers Heather Graham, Sean Endsley, and Jon Danton had the pleasure of representing the buyers of 32045 Castle Court, in Evergreen. The property, which sold for $5,600,000 in June, is a 35,930-square-foot of office space that features private balconies, views of the nearby lake, and access to recreation center, areas for fishing, as well as walking and jogging trails.
As the summer progresses, it is likely that consumers will continue to ramp up real estate activity in Denver Metro. For all of your real estate needs, contact LIV Sotheby’s International Realty by calling 303.893.3200 or by visiting livsothebysrealty.com.