The Ken Caryl real estate market is looking remarkably strong. June was a good month across the board for home sales in Ken Caryl, and there are a few interesting highlights in the statistics. Remember, when I talk about Ken Caryl real estate, I divide it into three distinct markets: The Ken Caryl Valley (homes west of C470), The Ken Caryl Plains (homes east of C470, often referred to by locals as the “Ranch Side”), and condos/townhomes in the Ken Caryl Plains.
Ken Caryl Valley Real Estate
- 12 homes currently for sale
- 15 homes pending sale
- 6 homes sold in the Ken Caryl Valley
- 12 homes for sale average $1,069,288 and have been on the market for an average of 89 days
- 15 homes pending average $928,887 and were on the market an average of 75 days
- 6 homes that sold in June averaged $716,833 (96% of asking price) and were on the market 29 days
Ken Caryl Plains Real Estate
- 5 homes for sale in Ken Caryl Plains
- 4 homes pending sale
- 9 homes sold in the Ken Caryl “Ranch” last month
- 5 homes for sale average $486,600 and have been on the market 112 days
- 4 homes pending sale average $477,225 and have been on for 10 days
- 9 homes that sold averaged $421,600 (101% of asking) and were on for 7 days
Ken Caryl Condos
- 7 condos for sale in Ken Caryl
- 7 condos pending sale
- 7 condos sold in Ken Caryl last month
- 7 condos for sale average $257,043 and have been on the market 20 days
- 7 condos pending average $248,264 and were on the market for 8 days
- 7 condos that sold averaged $275,679 (102% of asking) and were on the market 11 days
It seems remarkable that homes for sale in the Ken Caryl Valley average over $1M, yet the homes pending sale average nearly $1M! There are 4 homes over $1M pending sale, and 7 of the 15 homes that are pending in the Valley were on the market less than 1 week.
Of the 5 homes for sale in the Ken Caryl Plains, 2 are agent-owned and have been on the market for well over a month, and 1 is a home with many issues that has been on the market for 13 months. So really, only 2 houses are really trying to be sold, while 3 aren’t priced in the market to sell (the 2 agent owned homes have had a combined 8 price reductions, so they are trying to find the sweet spot and no doubt will soon). 8 of the 9 homes that sold in Ken Caryl in June lasted less than 1 week on the market.
It is obvious that Ken Caryl remains one of the most desired housing markets in the Denver Metro area, and the demand from buyers is still greatly outpacing the supply from sellers. A “stable” real estate market has between 6-9 months of inventory; Ken Caryl has a 1 month supply and hasn’t seen even a 4 month supply since early 2014. Despite that shortage, so far in 2017 prices are still a bit down from where they were last year. I believe that the luxury home market in the Ken Caryl Valley will soon change that trend.
You can visit my website to get a free report on how much your home is worth. If you have any questions about the Ken Caryl real estate market, or would like to tour any of the homes for sale in Ken Caryl, please give me a call.