Cherry Hills: Denver’s most affluent suburb draws high-profile buyers

Cherry Hills Village, a wealthy metro suburb known for its large lot sizes and luxurious homes, provides security and privacy plus quick access to downtown Denver, Cherry Creek, and the Denver Tech Center.

It’s also home to some of Denver’s best-known celebrities, including John Elway, Nuggets center Nikola Jokic, and Rockies third baseman Kris Bryant. Broncos quarterback Russell Wilson and his wife, R&B singer Ciara, set a metro record when they spent $25 million to purchase their Cherry Hills mansion.

“It is the Beverly Hills of the Denver metro area,” says Delroy Gill, a realtor with LIV Sotheby’s International Realty who was named the top Individual Broker on the National Association of Real Estate Brokers (NAREB) Top 100.

Cherry Hills Village was designed and built to focus on luxury homes and keep commercial development out. Consequently, the community has the highest wealth concentration in the Denver metro.

Patti Helm with Helm Weaver Helm lived in Cherry Hills Village while she raised her four kids.

Helm says that security, privacy, high-quality schools, bigger lots, and luxury custom homes appeal to Cherry Hills homebuyers.

“It’s a very serene and peaceful setting,” she says. “It’s more than just a neighborhood. It’s the kind of place where when you go out for a walk at night, your neighbors invite you in for a glass of wine.”

What’s available?

Cherry Hills Village homes are large and carry hefty price tags. The average size is 7,000 square feet, and the median price is $3.25 million.

But even at those prices, most homes sell quickly. In the past year, Cherry Hills Village homes stayed on the market for an average of 40 days.

“It’s an extremely aggressive luxury market,” Gill says. “If the homes are fully remodeled, new construction or have had a modern renovation, they still get multiple offers.”

Who’s moving in?

Cherry Hills Village appeals to move-up buyers in the Denver metro and high-dollar buyers moving in from out of state, chiefly from New York, California, or Texas.

“There’s a lot of new money in Cherry Hills,” Gill says.

Helm says she sees buyers upgrading to Cherry Hills Village from Denver’s Washington Park or Bonnie Brae neighborhoods.

“It’s people upgrading to the next level for their home,” she says. “There’s an ‘Aha, I’ve made it feeling.’”

Cherry Hills Village’s high-quality schools attract families and increasingly younger buyers.

“In my last three transactions, the buyers were mid-40s or below. I had two in the mid-30s,” Gill says.

Younger buyers focus on health and wellness and want saunas, steam rooms, and cold plunge tubs. So, older, traditional homes are getting facelifts before they hit the market.

Buyers also want outdoor amenities, including swimming pools and tennis courts. Increasingly, they also want pickleball courts, Gill says, and are either adding those courts or converting existing tennis courts.

Helm says she also sees buyers drawn by the country club or equestrian lifestyle.

Despite its high profile, Cherry Hills Village remains a hidden oasis.

“Most people have driven past and don’t know it exists. It’s tucked away behind trees, so it’s hidden in plain sight,” Gill says. “But it’s there and it’s thriving.”

The news and editorial staffs of The Denver Post had no role in this post’s preparation.

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