The Ken Caryl real estate market is a perfect example of statistics not telling the whole story. As you’ll see below, some numbers make it look like homes in Ken Caryl are selling well, while other numbers make you think the Ken Caryl real estate market has crashed. Remember, when looking at Ken Caryl real estate, I divide the neighborhood into three distinct markets: The Ken Caryl Valley (west of C470), the Ken Caryl Plains (the neighborhood east of C470), and attached homes in the Plains (that I’ll refer to as condos though it also includes townhomes).
Ken Caryl Valley Real Estate
- 15 homes currently for sale in the Ken Caryl Valley
- 13 homes currently pending sale in the Valley
- 1 home sold in the Ken Caryl Valley in April
- 15 homes for sale avg $1,059,253 and have been on the market an avg of 43 days
- 13 homes pending sale avg $836,554 with an avg DOM of 12 days
- 1 home that sold was $695,000 and on for 13 days
Ken Caryl Plains Real Estate
- 9 homes currently for sale in the Ken Caryl Plains
- 3 homes pending sale in the Ken Caryl Plains
- 5 homes sold in Ken Caryl in April
- 9 homes that sold avg $558,222 and were on for an avg of 44 days
- 3 homes pending avg $503,967 and 16 DOM
- 5 homes that sold in Ken Caryl avg $464,380 (94% of asking) and 32 DOM
Ken Caryl Condos for Sale
- 3 condos currently for sale in Ken Caryl
- 7 condos pending sale
- 8 condos sold in Ken Caryl in April
- 3 condos for sale avg $321,300 and 39 DOM
- 7 condos pending avg $292,943 and 11 DOM
- 8 condos that sold avg $319,312 (96% of asking) and 21 DOM
There are some really interesting things to note in looking at these numbers. First, it is shocking (and not entirely explainable) that only one house sold in the Ken Caryl Valley in April (there were 14 sales in April ’18). Looking back at homes pending in February and March, that number doesn’t add up. That being said, 13 homes pending sale point to a very strong May (and there have already been 5 sales through the first week of May).
Secondly, 10 of the 15 homes for sale in the Valley are priced over $1M. This has created a bit of a log jam in the Ken Caryl luxury home market, and it will be interesting to see what will cause that jam to break.
Finally, I think it is worth noting that while detached sales in the Plains were even with where they were last year, prices are actually 6.8% lower than last year and days on market were nearly 400% higher. Condo sales were better this April than last, prices were up a bit (5.4%), but days on market were also up over 300% and the sales price to list price was actually 6% lower than last April.
None of these numbers are worth reacting to in and of themselves. Nothing here shows a new trend or a market shift. However, it is something that is worth filing away in the back of your mind and something to watch moving forward. If you’re thinking of selling your home in Ken Caryl, you can get a free valuation estimate on my website, or contact me and I’d be happy to provide a more accurate valuation for you. You can also view all Ken Caryl homes for sale on my website and contact me for private tours of any of these homes.