Cherry Hills Village vs. Greenwood Village Smack Down

Highline Canal

Highline Canal

OK, you live in Denver, you’re relocating to Denver, or you have just always wanted to live in one of Denver’s prestigious residential communities. So today, employing 2012 and prior years data, let’s have a smack down: which is the most affable, economical and beneficial choice between Cherry Hills Village, and Greenwood Village? Please note Greenwood Village has been divided between Cherry Creek and Littleton School Districts. Cherry Hills is located entirely within Cherry Creek School District.

Additionally, there are many parameters assisting home buyers with their choice matrix. The one’s employed in this analysis are primarily economic centric.

First, let’s look at Cherry Hills Village, Colorado. Cherry Hills have virtually no commercial zoning. As a result, its property taxes are the highest on average. On the other hand, it has very little “tract type” development, so it has the largest average site sizes. This results in the highest average price, and the highest average price per square foot of above grade finished area.

Advantage for Category

CHERRY HILLS VILLAGE

AVERAGE PRICE CHANGE ANALYSIS

   

TRANSACTION

VOLUME COUNT

 

 

   

 

12 MONTHS PRIOR 2012

-5.50%

   

92

12 MONTHS PRIOR 2011

0.80%

   

54

12 MONTHS PRIOR 2010

N/A

   

54

AVERAGE PRICE/SQ.FT.

$288

  AVERAGE PRICE

$1,358,737

AVERAGE SITE SIZE

41,961 SF

  AVERAGE TAXES

$12,930

Next, let’s take a look at Greenwood Village feeding into the Cherry Creek School District. It has the most “tract type” development, and as a result, by far has the smallest average site sizes. Additionally, its average property tax is less than half that in Cherry Hills Village. It is the economical choice.

GREENWOOD VILLAGE SSE

PRICE CHANGE ANALYSIS

   

TRANSACTION VOLUME ANALYSIS

 

 

   

 

12 MONTHS PRIOR 2012

3.50%

   

60

12 MONTHS PRIOR 2011

-1.40%

   

66

12 MONTHS PRIOR 2010

N/A

   

74

AVERAGE PRICE/SQ.FT.

$236

  AVERAGE PRICE

$687,543

AVERAGE SITE SIZE

16,963

  AVERAGE TAXES

$5,598

Last, but clearly not least, a portion of Greenwood Village, Colorado feeds into the Littleton School district. Due to its size, the volume of sales is significantly less than the other two areas surveyed, but there are some important facts to observe. This area has very few “tract style” developments and the average site size is up from the other portion of Greenwood Village.

GREENWOOD VILLAGE SSC

PRICE CHANGE ANALYSIS

   

TRANSACTION VOLUME ANALYSIS

 

 

   

 

12 MONTHS PRIOR 2012

-11.2

   

45

12 MONTHS PRIOR 2011

18.3

   

36

12 MONTHS PRIOR 2010

N/A

   

28

AVERAGE PRICE/SQ.FT.

$280

  AVERAGE PRICE

$1,124,436

AVERAGE SITE SIZE

31,406

  AVERAGE TAXES

$9,271

So, those of you still with me are asking, well? Well, I’ve lived and worked in and around both of these communities for many years. I’ve friends, clients and associates living in both communities, and here’s my answer. If you are a Freegan like me, Greenwood Village wins hands down. Its tax structure from a City Budget having a very diverse source of income will continue to win the battle of tax rates for many years to come. It also has areas of town with very large sites like Cherry Hills, and it has areas with very “affordable” homes very close to employment centers.

On the other hand, Cherry Hills Village has some very special streets and communities clearly setting the standard for high end “Mansion” type living that out stripes Greenwood Village.

All told, it is easy to see why both communities demand their current price levels, attract the following of home buyers constantly working to obtain the status of these addresses and enjoy the lifestyles available to their owners.

So, what’s the answer to this Smack down Question? For me, it would be Greenwood Village, but for you, there might be a more pressing issue in your decision matrix. Let me help you find your dream home.

Advertisements

About Tom & Dee Cryer

Your Friends in the Homeownership Business!
This entry was posted in Cherry Hills Village, Denver Residential Real Estate, Greenwood Village. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s