Ken Caryl real estate started off 2018 with a whimper. In some cases, I literally have nothing to report. Like, there are no condos or town homes for sale right now, and there were no detached home sales at all in the Plains. Reminder when I look at Ken Caryl real estate, I divide the neighborhood into three distinct real estate markets: The Ken Caryl Valley (west of C470), the Ken Caryl Plains (area east of C470, often referred to as the Ranch side, though the whole neighborhood is the Ranch), and condos and town homes in the Plains. Let’s take a look at how home sales in Ken Caryl looked in January.
Ken Caryl Valley
- There are 4 homes for sale in the Ken Caryl Valley currently
- There are 6 homes pending sale in the Valley
- 6 homes sold in the Ken Caryl Valley in January
- The 4 homes for sale average $797,225 and have been on the market an average of 70 days
- The 6 homes pending average $888,150 and were on the market 106 days
- The 6 homes that sold averaged $933,629 (98% of asking) and were on the market 43 days
Ken Caryl Plains
- There are 2 houses for sale in the Ken Caryl Plains
- There are 6 homes pending sale in the Plains
- 0 homes sold in Ken Caryl Plains in January
- The 2 homes for sale average $527,000 and have been on the market 33 days
- The 6 homes pending average $452,975 and have been on the market 34 days
- The 0 homes that sold….oh, nevermind
Ken Caryl Condos/Town Homes
- There are 0 attached homes for sale in Ken Caryl
- There are 9 attached homes pending sale
- 5 condos/town homes sold in Ken Caryl in January
- 9 condos pending average $245,417 and were on the market 7 days
- 5 condos that sold average $268,600 (100% of asking) and were on the market 8 days
So, this is seasonal right? Not really. Yes, the Ken Caryl real estate market is seasonal, and these winter months tend to be our lowest months. But we are low even for the season. The number of sales isn’t down, in fact, it’s actually up a little bit. It is the number of homes for sale in Ken Caryl that is concerning. We have 36% fewer homes for sale in Ken Caryl now than we have the previous 2 January’s, and 72% fewer homes for sale than the January prior to that. When inventory is down that much, and sales are actually increasing, it points to a housing crisis.
3 of the 6 homes that sold in the Valley in January sold for over $1M, so the luxury market is certainly moving. The average home price in Ken Caryl continues to rise, and you’ll notice the median price actually dipped a little in 2017. As our inventory lays low while demand remains in tact, it makes sense that the prices will continue to rise.
So what does this mean if you’re looking to sell your home in Ken Caryl? Don’t wait! I often hear that people are going to wait for the spring season to kick in. That’s just another way to say, “I don’t want to get the most for my house. I’ll wait til prices get soft again, then I’ll settle for less.” There is no competition right now! The buyers are still there and ready to go, and there is no competition for the sellers! Come spring, we can guess there will be more homes for sale in Ken Caryl, giving the buyers more choices and a bit more leverage. It’ll still be a strong seller’s market, but now is as strong as you’ll ever see!
If you’d like to know what your home is worth in Ken Caryl, you can check my valuation tool on my site or contact me for a more accurate valuation.