The Ken Caryl real estate market showed a little renewed life in February, which wasn’t much of a surprise. Most of the local real estate news is talking about a shifting market, but the reality is that seasonality is simply moving up a little bit to try and keep up with demand. When I look at the Ken Caryl real estate market, I divide the neighborhood into 3 distinct areas: The Ken Caryl Valley (homes west of C470), the Ken Caryl Plains (homes east of C470, often referred to as “The Ranch Side”) and attached homes (town homes and condos) in the Ken Caryl Plains.
Ken Caryl Valley Real Estate
- 8 homes currently for sale
- 4 homes pending sale
- 6 homes sold in the Ken Caryl Valley in February
- 8 homes for sale avg $1,106,613 and have been on the market an avg of 19 days
- 4 homes pending avg $792,475 with an avg DOM of 39 days
- 6 homes that sold avg $777,000 (97% of asking price) and were on the market 44 days
Ken Caryl Plains Real Estate
- 6 homes currently for sale
- 0 homes pending sale
- 3 homes sold in Ken Caryl in February
- 6 homes for sale avg $535,633 and avg 53 DOM
- 3 homes that sold avg $445,333 (99% of asking) and were on for 18 days
Ken Caryl Condos For Sale
- 5 condos currently for sale
- 6 condos pending sale
- 5 condos sold in Ken Caryl in February
- 5 condos for sale avg $369,300 and avg 17 DOM
- 6 condos pending avg $293,983 and 13 DOM
- 5 condos that sold avg $302,050 (99% of asking price) and 15 DOM
Looking at these numbers can be a bit confusing, primarily because monthly numbers really don’t tell all that much information. Consider that in February 2018, the Ken Caryl Valley only had 2 home sales. While we could say home sales have increased 200%, that’s not painting an accurate picture.
In real estate, I believe that the month’s supply of inventory is the single best indicator of a market’s overall health. This number shows us how many months it would take, using our current sales rate, to sell off all of the inventory on the market. A “balanced” real estate market should have 4-6 months of inventory. Anything over that is indicative of a “buyer’s market,” and anything less than 4 months is a “seller’s market.” Take a look at the graph below, and you’ll see we are barely even dealing with months, but rather weeks, of inventory. The Ken Caryl housing market is still deep in a seller’s market.
Looking over the past 3 years, you can see that this hasn’t changed much at all.
If you have any questions regarding your home’s current value, you can get an estimate on my website, or contact me for a more accurate valuation. If you are looking to buy a home, you can search all homes for sale in Ken Caryl on my website or I’m happy to chat with you and find out exactly what you’re looking for so that I can help you find the right home, even if it is not on the market