Looking at the Ken Caryl Ranch real estate market for 2015 provides some pretty eye-popping numbers. 2015 was a near mirror image to 2014, which is somewhat of a surprise considering all of the talk about Denver being one of the nation’s “hottest” real estate markets. When I review Ken Caryl real estate, I break it down to three very distinct markets: The Ken Caryl Valley (the portion of the Ranch west of c470), The Ken Caryl Plains (often referred to as “the Ranch side,” this is the portion of KCR that is east of c470), and attached homes in the Plains. Here’s a look at how 2015 stacked up against 2014.
Ken Caryl Valley:
- 96 homes sold in 2015
- 97 homes sold in 2014
- Homes were on the market an average of 49 days in 2015 compared to 62 days in 2014.
- $670,596 was the average sales price in 2015 (96% of the original asking price)
- $669,915 was the average sales price in 2014 (95% of the original asking price)
- 2015 sales price range: $389,900-$1,145,000
- 2104 sales price range: $349,200-$1,349,000
Ken Caryl Plains:
- 60 homes sold in 2015
- 57 homes sold in 2014
- Homes were on the market an average of 17 days in 2015 compared to 28 days in 2014
- $372,269 was the average sales price in 2015 (98% of the original asking price)
- $361,029 was the average sales price in 2014 (98% of the original asking price)
- Highest sale in 2015 was $548,000, compared to $656,000 in 2014
Ken Caryl Condos:
- 71 sales in 2015
- 70 sales in 2014
- Condos were on the market an average of 10 days in 2015 compared to 19 days in 2014
- $211,962 average sales price 2015 (100% of asking price)
- $176,934 average sales price 2014 (99% of asking price)
- 76% of all sales in 2015 were at or above asking price
Ken Caryl Ranch Real Estate Summary:
So what do all of these numbers mean? A couple of things jump out at me. 2015 was a remarkably flat year. When the Greater Denver area saw 16% appreciation in price, Ken Caryl Valley saw none, the Plains saw 3%, while Ken Caryl condos saw 16.5%. Sold units were up 5% across the Greater Denver area, while in Ken Caryl they were nearly identical. In the greater scope of things, it is a bit of a concern that our community stayed stagnant while other areas were quite hot
I’m also seeing that investing in condos and townhomes in Ken Caryl would be a great idea. With rental prices continuing to rise and rental inventory being low, having a low-cost rental option is a potentially very smart move.
Finally, the Ken Caryl real estate market is very stable. While it’s exciting to be in a “hot” real estate market, it is also very unsettling because hot markets always cool down. Historically, 2%-4% annual appreciation is considered healthy, and that’s right where we are. Looking over the past several years, the Ken Caryl market is very strong and solid, and our only real concern right now is lack of housing inventory. I guess when you’ve found a place as great as ours, many people just can’t fathom leaving! If you are considering selling your home to downsize or upgrade, or maybe you’d like to explore investment properties in Ken Caryl, please give me a call or text me and I’d be happy to help you create a plan!