Kentwood: No. 1 in many Denver communities last year

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Highlights:

  • Kentwood Realtors took a big share of the Denver market last year. 
  • Kentwood agents averaged more than $12 million in sales each in 2014.
  • Kentwood agents were involved in 1 of every 4 luxury sales last year.

By John Rebchook

Realtors at Kentwood Real Estate account for fewer than 2 percent of the estimated 10,000 Realtors in the Denver metro area.

Yet, last year, its 185 Realtors had as much as a 41 percent share in some markets, according to an analysis of sales data by the privately held company.

Although Kentwood brokers sell homes in all price ranges, it especially shined when it came to selling luxury homes.

One our of every four luxury transactions last year involved a Kentwood broker. A luxury home is defined as one that sells for $1 million or more.

“Kentwood has very productive agents,” said independent broker Gary Bauer, who does not work for Kentwood, but is very familiar with the organization.

Indeed, last year the company’s brokers each averaged more than $12 million in sales volume annually. That metric ranked Kentwood No. 1 nationwide by by the National Association of Realtors and REAL Trends.

“Kentwood has very high quality brokers, who do a great job,” Bauer added. “That is why they continue to control a big part of the marketplace.”

Kentwood’s 25.4 percent share last year of the luxury market — that is, for homes priced at $1 million or more — topped the market share of any other single company, according to Kentwood’s analysis.

Its market share, by sales volume in 2014, included:

  • Greenwood Village and Cherry Hills Village, 40.7 percent;
  • Cherry Creek, 30.3 percent;
  • County Club, 24.7 percent;
  • And in Downtown Denver, a 15.7 percent market share of homes priced at $300,000 or more.

Kentwood Real Estate also had the highest market share based on total sales volume in Greenwood Village and Cherry Hills Village last year, according to Kentwood’s research.

Peter Niederman is CEO of Kentwood Real Estate.

Peter Niederman is CEO of Kentwood Real Estate.

“Our highly experienced brokers are unmatched in their knowledge of the luxury real estate market, but they all serve the diverse real estate needs of everyone seeking a home in any price range,” said Peter Niederman, CEO of Kentwood Real Estate.

Niederman noted that this year, the luxury housing market is outperforming the overall Denver-area market.

“The luxury market in metro Denver continues strong, with sales of single-family homes priced from $1 million to just under $2 million jumping 53 percent during the first quarter of 2015 compared to the same period last year,” Niederman said

 He said its three “strategically located” offices allows its agents to serve home buyers and sellers througout the metro area. Kentwood has offices in the Denver Tech Center, Cherry Creek, while Kentwood City Properties is in LoDo, across from Union Station.

Have a story idea or real estate tip? Contact John Rebchook at JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.

 

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John Rebchook

John Rebchook has more than 30 years of experience in writing and communications. As the Real Estate Editor for the Rocky Mountain News, he wrote about residential and commercial real estate for 26 years. He has won numerous awards for business stories and columns that he wrote, both as an individual and part of teams. In addition to real estate, he also covered economic development, banking and financing, the airlines, and cable TV for the Rocky. In addition, he was one of the original freelance writers for GlobeSt.com, covering commercial real estate for the Internet publication.

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