The Ken Caryl real estate market remains very strong, despite what may “feel” like a slow down. Lots of news reports pointing to shifts, recessions, and buyer markets, but that’s not the true story. Yes, we are almost certainly headed for a technical recession. No, that really won’t hurt the housing market much. Here in Ken Caryl, home sales remain strong, and we remain in a deep seller’s market. 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
- 13 homes currently for sale
- 11 homes pending sale
- 8 homes sold in the Ken Caryl Valley in June
- 13 homes for sale avg $1,020,631 and have been on the market an avg of 56 days
- 11 homes pending avg $885,336 with an avg DOM of 60 days
- 8 homes that sold avg $914,875 (98% of asking price) and were on the market 19 days
Ken Caryl Plains Real Estate
- 10 homes currently for sale
- 2 homes pending sale
- 4 homes sold in Ken Caryl in June
- 10 homes for sale avg $643,180 and avg 57 DOM
- 2 homes pending avg $532,450 with an avg DOM of 52 days
- 4 homes that sold avg $4475,250 (97% of asking) and were on for 18 days
Ken Caryl Condos For Sale
- 4 condos currently for sale
- 4 condos pending sale
- 7 condos sold in Ken Caryl in June
- 4 condos for sale avg $260,100 and avg 19 DOM
- 4 condos pending avg $293,100 and 16 DOM
- 7 condos that sold avg $337,250 (97% of asking price) and 17 DOM
There is nothing too exciting or alarming about the Ken Caryl real estate numbers this month. Inventory is rising (up 11% over last June), sales are slightly down (16% from last June, and 8.5% fewer home sales in Ken Caryl YTD), and homes under contract are actually up (6.3%). We are still measuring inventory in weeks, not months (currently 7 weeks of inventory). Keep in mind a “buyer’s market,” as now defined by the National Association of Realtors, is 3 months of inventory so we are still deep in a seller’s market.
If you are looking to buy a home in Ken Caryl, you can expect a few more homes to choose from than the past few years, but we are still hovering around a 1:1 ratio for sales to listings. If you are hoping to sell your home in Ken Caryl, prepare for a longer time on market and maybe less of a price spike than you had hoped (median price is actually down 5.5% YTD).
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.