Ken Caryl real estate had a very strong month in May, and that may or may not point to any long term trend. Many economists are predicting that we will head into another recession sometime in the next 12 months. What does that mean for homes in Ken Caryl? Tough to tell. For the time being, let’s take a look at what happened with real estate in Ken Caryl this past month. 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
- 17 homes currently for sale
- 11 homes pending sale
- 14 homes sold in the Ken Caryl Valley in May
- 17 homes for sale average $1,054,924 and have been on the market an avg of 54 days
- 11 homes pending sale avg $870,764 and avg 15 DOM
- 14homes that sold in Ken Caryl averaged $857,630 (98% of asking) and were on the market 9 days
There were more than double the number of sales in the Valley this May compared to last, and prices were up 9%. This was a fairly predictable increase if you look at the previous months’ posts. For some reason home sales in the Ken Caryl Valley just took a bit longer to get ramped up this year than in the past. Interestingly, 64% of all homes for sale in the Valley are listed over $1m, while only 29% of sales are over $1m.
Ken Caryl Plains Real Estate
- 7 homes currently for sale
- 6 homes pending sale
- 4 homes sold in Ken Caryl Plains in May
- 7 homes for sale average $694,986 and have been on the market an avg of 30 days
- 6 homes pending sale avg $462,317 and avg 21 DOM
- 4 homes that sold in Ken Caryl averaged $482,000 (97% of asking) and were on the market 14 days
Home sales in the Plains has remained very steady, as have home prices. There simply aren’t enough homes available to meet the demand in the starter price range. When the average asking price is more than 30% higher than the average sales price, it’s pretty clear that there is a discrepancy between what people want and what is available.
Ken Caryl Condos For Sale
- 3 condo currently for sale
- 5 condos pending sale
- 6 condos sold in Ken Caryl in May
- 3 condos for sale are asking $302,233 and have been on the market 11 days
- 5 condos pending average $315,760 and have been on the market 35 days
- 6 condos that sold in Ken Caryl averaged $307,967 (99% of asking) and were on the market for 12 days
Attached homes in Ken Caryl have picked back up after a few months of slower sales. The supply is keeping up with the demand, keeping things fairly stable.
It is possible that we are heading into a recession like some experts are predicting. It also seems likely that this time it will be the housing market that pulls us out, rather than what is the cause. Demand is still out pacing supply, and interest rates are heading way back down after a promised increase. Currently, Ken Caryl real estate is very healthy and strong.
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.