I’m going to use the “S” word to describe Ken Caryl real estate. That’s right, I’m going to claim a real estate market shift in Ken Caryl. We have not shifted from a seller’s market to a buyer’s market, and we have shifted from an out of control seller’s market to a healthy market. 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
- 13 homes currently for sale
- 11 homes pending sale
- 7 homes sold in the Ken Caryl Valley in July
- 13 homes for sale average $959,415 and have been on the market an avg of 51 days
- 11 homes pending sale avg $887,518 and avg 50 DOM
- 7 homes that sold in Ken Caryl averaged $805,571 (94% of asking) and were on the market 61 days
Ken Caryl Plains Real Estate
- 8 homes currently for sale
- 6 homes pending sale
- 4 homes sold in the Ken Caryl Plains in July
- 8 homes for sale average $590,462 and have been on the market an avg of 60 days
- 6 homes pending sale avg $580,167 and avg 19 DOM
- 4 homes that sold in Ken Caryl averaged $449,975 (94% of asking) and were on the market 39 days
Ken Caryl Condos For Sale
- 4 condos currently for sale in Ken Caryl
- 4 condos pending sale
- 4 condos sold in Ken Caryl in July
- 4 condos for sale avg $263,100 and have been on the market 26 days
- 4 condos pending average $309,100 and have been on the market 23 days
- 4 condos that sold in Ken Caryl averaged $291,000 (97% of asking) and were on the market for 27 days
So why am I calling this a shift? Look at Ken Caryl’s home sales this July vs last July. We saw 53% fewer sales in the Valley, nearly 3x fewer sales in the Plains, and half as many sales in condos as we saw last year. Prices were down in all 3 areas as well, though only slightly. Days on market was 83% higher in the Valley, 74% higher in the Plains, and 85% higher for condos this July vs last. Last July, 63% of homes that sold in the Plains sold at or over asking price, and 88% of condos sold at or over asking price. This July homes in the Plains only received 94% of asking while condos got 97% of asking (homes in the Valley got 2% less this year vs last).
The whole year has felt a bit sluggish. July saw the brakes slammed on. In a long term perspective, this is still a very good healthy real estate market. Compared to what we have gotten used to the past few years, it is much slower. Hence, I’m calling the “S” word.
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.