Kentwood Real Estate Captures a 33 Percent Market Share in Two of Metro Denver’s Most Desirable Neighborhoods

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1409336445DENVER, CO – Home prices in Cherry Hills Village and Greenwood Village rose significantly year-to-date in July 2014 as buyers scrambled to secure a limited number of premier properties in two of metro Denver’s most desirable neighborhoods, according to statistics released by Kentwood Real Estate. The average sales price in July 2014 was $1,685,166 compared to $1,520,457 in July 2013, an increase of 10.8 percent.

The average number of days on the market for homes in Cherry Hills Village and Greenwood Village declined dramatically from last year, which also reflects the current shortage of homes compared to last year. Homes sold in July 2014 year-to-date were on the market an average of 101 days compared to 189 days for July 2013, a drop of 46.6 percent.

July statistics show that there are currently 107 residential listings in Cherry Hills Village and Greenwood Village. Kentwood Real Estate, Colorado’s Premier Real Estate Company, enjoyed a 33 percent market share with 49 active listings in the two communities in July.

“While the metrics (sales volume, transactions, inventory and days on the market) show signs of year over year improvement, we are cautiously optimistic for the real market to remain stable for the Villages for 2014 and 2015,” said Peter Niederman, Chief Executive Officer of Kentwood Real Estate.

Denver area real estate brokers enjoyed a small reprieve from the dearth of homes in July as the number of homes on the market in all of metro Denver increased 6.5 percent in August, according to data from the Denver Metro Association of Realtors. The market still remains tight, however, due in part to first-time homebuyers coming to the market across the metro area.

About Kentwood Real Estate

Kentwood Real Estate is dedicated to building on its legacy of being “Colorado’s Premier Real Estate Company” through the highest producing, most knowledgeable, caring and experienced brokers in the country who offer the highest quality customer service experience. Kentwood Real Estate is an innovator known for unparalleled marketing strategies and superior Internet technology that places its clients in the best possible position. The company’s brokers each averaged more than $12 million in sales volume annually, which is ranked number one nationwide by the National Association of Realtors and REAL Trends.

Kentwood Real Estate is comprised of Kentwood Real Estate-DTC, Kentwood Real Estate-Cherry Creek, and Kentwood City Properties in downtown Denver. For more information, visit Kentwood Real Estate online at www.DenverRealEstate.com.