As we look at the Ken Caryl real estate market for August 2018, one of the main comments I hear is “It seems like the market is slowing a little bit.” I addressed this a little bit last month, and the trend is the same. Yes, things are slowing a bit…kind of. We really have two markets right now: Sellers who are serious about selling and getting over asking in a matter of days, continuing to frustrate buyers; and sellers who are “testing the market” and sitting for months and trying several price adjustments. I divide Ken Caryl into three distinct real estate markets: The Ken Caryl Valley (the portion of the Ranch west of C470), the Ken Caryl Plains (often referred to as the Ranch side, homes east of C470, including the homes behind King Soopers and Chatfield Senior High), and attached homes in the Plains (some condos, some town homes).
Ken Caryl Valley Real Estate
- 9 homes currently for sale in the Ken Caryl Valley
- 10 homes pending sale
- 8 homes sold in the Ken Caryl Valley in August
- 9 homes for sale avg $1,003,767 and have been on the market an avg of 40 days
- 10 homes pending avg $960,600 and have a DOM of 86
- 8 homes that sold avg $826,500 (97% of asking) and were on the market 14 days on average
Ken Caryl Plains Real Estate
- 3 homes currently for sale in the Ken Caryl Plains
- 7 homes pending sale
- 8 homes sold in the Ken Caryl Plains in August
- 3 homes for sale avg $642,967 and have been on the market an avg of 110 days (including one for over 2yrs)
- 7 homes pending avg $510,357 and have a DOM of 28
- 8 homes that sold avg $530,375 (98% of asking) and were on the market 12 days (5 were under a week, the same 5 that sold for over asking)
Ken Caryl Condos and Town Homes for Sale
- 6 condos currently for sale in Ken Caryl
- 8 condos pending sale
- 7 condos sold in Ken Caryl in August
- 6 condos for sale avg $339,800 and have been on the market an avg of 38 days
- 8 condos pending avg $307,925 and have a DOM of 29
- 7 condos that sold avg $327,700 (98% of asking) and were on the market 18 days on average
Looking at the monthly numbers gives a good glimpse of what is happening now, and I think looking at this year’s numbers vs last year YTD gives a better sense of what the Ken Caryl real estate market is truly doing.
Home Sales YTD ’18 vs ’17
- Valley + 19%
- Plains + 7%
- Condos -25%
Home Prices YTD ’18 vs ’17
- Valley + 2.7%
- Plains + 6.2%
- Condos + 14.3%
The overall summary remains the same. Ken Caryl, like the rest of the greater Denver area, remains in a heavy seller’s market. There are simply way more buyers than there are homes to buy. The gut feeling that things are slowing a bit is evidenced in the price appreciation and the number of days on market of homes still for sale. As you look at home appreciation, 3-5% is considered a “healthy” annual appreciation. Ken Caryl remains a neighborhood that people really want to enter, and yet the entry level homes are pricing further and further out of entry level numbers. Move up buyers, and luxury home buyers, have a bit more flexibility, and they are getting “better deals” than the entry level buyers are.
If you would like to know what this means for you and your home, you can get a free home value estimate on my website or contact me and I am happy to give you a more accurate valuation at no cost or obligation. If you are looking at homes for sale in Ken Caryl to buy for yourself or an investment, please contact me and I’ll be happy to help you in that search as well.