Ken Caryl real estate showed the expected surges in 2018, and despite some media claims to the contrary, we are nowhere close to moving back to a stable market or a buyer’s market. A strong desire to live in our neighborhood, combined with still remarkably low inventory of available homes, continues to drive prices up and create a strong selling environment. As we look at the 2018 year in review, remember when I talk about Ken Caryl real estate I divide the neighborhood into three distinct sections: The Ken Caryl Valley (homes west of C470), detached homes in the Ken Caryl Plains (the area east of C470, which many residents refer to as the “Ranch Side,” though the whole neighborhood is the Ken Caryl Ranch), and attached homes (condos and town homes) in the Ken Caryl Plains (I’ll just call condos for ease). Let’s take a look.
Ken Caryl Valley Real Estate
- 5 homes currently for sale
- 5 homes pending sale
- 90 homes sold in the Ken Caryl Valley in 2018
- 5 homes for sale average $892,960 and have been on the market an avg of 51 days
- 5 homes pending sale avg $859,580 and avg 44 DOM
- 90 homes that sold in Ken Caryl averaged $837,321 (97% of asking) and were on the market 37 days
There were 14% more sales in the Valley this year than last, and prices rose 7.2%, down from an 8.1% price appreciation the year before. Days on Market have remained nearly identical the past 3 years, as has the sales price to list price ratio.
Ken Caryl Plains Real Estate
- 3 homes currently for sale
- 4 homes pending sale
- 58 homes sold in Ken Caryl Plains in 2018
- 3 homes for sale average $491,633 and have been on the market an avg of 52 days
- 4 homes pending sale avg $451,225 and avg 12 DOM
- 58 homes that sold in Ken Caryl averaged $490,893 (99% of asking) and were on the market 14 days
There were 59 home sales in the Ken Caryl Plains last year, so that number is nearly identical. Prices rose 5.7% in the past year, again nearly identical to the previous year’s 6% increase.
Ken Caryl Condos For Sale
- 1 condo currently for sale
- 5 condos pending sale
- 61 condos sold in Ken Caryl in 2018
- 1 condo is asking $269,000 and has been on the market 27 days
- 5 condos pending average $272,380 and have been on the market 22 days
- 61 condos that sold in Ken Caryl averaged $297,776 (99% of asking) and were on the market for 14 days
Attached homes in Ken Caryl is where we saw the biggest change. There were 21% fewer condo sales in Ken Caryl this year from last, and prices rose 12.4%, up from 11.9% the prior year.
As we head into 2019, it is clear that prices are still rising at a pace that is double or more the historical average, homes are sitting on the market for the same quick amount of time that they have been, and the number of sales has been pretty steady in most parts of our market. Many people have asked me why it seems like they’re are seeing more price reductions than in the past, and that is a factor of the appreciation rising at a slightly slower pace than it has. Prices rising 7% instead of 8% doesn’t mean that prices are coming down, and yet if a seller prices their home anticipating an 8% appreciation and the market is not keeping up with that, you will see more price adjustments to try and correct the original miss on the price.
If you are wanting to sell your home in Ken Caryl, or simply curious as to what your home in Ken Caryl is currently worth, you can get an estimate on my website or call me for a more accurate valuation. For those of you wanting to buy a home in Ken Caryl, you can search all homes for sale in Ken Caryl on my website or call me for a detailed buyer need analysis.