The Ken Caryl real estate market was predictably flat in October. As we enter the winter months, there’s no question that the real estate market cycles, but just who that favors is up for discussion. Reminder as I look at Ken Caryl real estate, I look at three distinct markets: The Ken Caryl Valley (homes west of C470), detached homes in the Ken Caryl Plains (the area east of C470 often referred to as “The Ranch Side”), and condos/townhomes in the Ken Caryl Plains.
Ken Caryl Valley Real Estate
- 9 homes currently for sale in the Ken Caryl Valley
- 10 homes pending sale
- 6 homes sold in October
- 9 homes for sale average $966,556 and have been on the market an average of 48 days
- 10 homes pending average $851,480 and have been on the market an average of 126 days
- 6 homes that sold averaged $837,117 (97% of asking) and were on the market 38 days
Ken Caryl Ranch Real Estate
- 5 homes currently for sale in the Ken Caryl Plains
- 2 homes pending sale
- 5 homes sold in October
- 5 homes for sale average $506,780 and have been on the market for 48 days
- 2 homes pending average $563,750 and have been on the market for 30 days
- 5 homes that sold averaged $456,300 (97% of asking) and were on for 17 days
Ken Caryl Caryl Condos For Sale
- 1 condo currently for sale in Ken Caryl
- 6 condos pending sale
- 4 condos sold in October
- 1 condo for sale is $339,973 and has been on the market for 5 days
- 6 condos pending avg $251,817 and have been on the market 41 days
- 4 condos sold averaged $283,625 (100% of asking) and were on the market for 12 days
It’s important to put these numbers into proper perspective as there is really nothing here that is surprising or indicative of any kind of change. Comparing October of this year to October of last year, the Valley had the exact same number of sales, and a 10.6% price increase. 175% fewer condos sold in Ken Caryl this October vs last, and prices rose 17.1%. Home sales in the Ken Caryl Plains dropped 40%, and prices saw a minuscule (2%) increase. Comparing these numbers to the 7 County Denver Metro area, Ken Caryl real estate is doing well. Denver Metro saw a 3.8% decrease in number of sales, and a 9.4% price increase.
These graphs are one of my favorite illustrations of why knowing the market by sub-markets is so imperative. Take a look at this first graph, and you’ll see that home prices in Ken Caryl have actually dropped this year. Yet when you look at the next three graphs that break out the Valley, the Plains, and condos, you’ll see all three sub-categories have actually seen significant increases in price. So if all three have increased, how can the total decrease? Number of sales by category. The Valley is having a very slow year in number of sales, so there are far fewer high priced homes selling, while condo sales are already more than double where they were just 5 years ago, with 2 months left to go, meaning more low priced homes have sold, thus bringing the overall home values in Ken Caryl down.
If you would like a free valuation of what your home in Ken Caryl is worth, you can get an estimated home valuation on my website or contact me for a free, no obligation accurate valuation. If you are looking to purchase a home and would like to discuss what these numbers mean to you, please contact me and I’d be happy to meet!