Not much new in the Ken Caryl real estate market for the month of September. Stop me if you’ve heard this one before, as prices are up and inventory is down. As we’ll see, it is not simply seasonal either. When I look at Ken Caryl real estate, I look at three distinct markets: The Ken Caryl Valley (west of C470), detached homes in the Ken Caryl Plains (east of C470, often referred to as “The Ranch Side”), and condos/town homes in the Plains.
Ken Caryl Valley
- There are currently 10 homes for sale in the Ken Caryl Valley
- There are 11 homes pending sale
- 7 homes sold in the Ken Caryl Valley in September
- The 10 homes for sale average $1,075,070 and have been on the market an avg of 158 days
- 11 homes pending average $892,727 and have been on the market 26 days
- 7 homes that sold averaged $841,286 (90% of asking) and were on the market 45 days
Ken Caryl Plains Real Estate
- There are 2 homes for sale in the Ken Caryl Plains
- 7 homes are pending sale
- 4 homes sold in the Ken Caryl Plains in September
- 2 homes for sale average $519,500 and have been on the market an average of 86 days
- 7 homes pending sale avg $532,671 and have been on the market 30 days
- 4 homes that sold in Ken Caryl averaged $444,950 (98% of asking) and were on the market for 36 days
Ken Caryl Condos & Town Homes
- 2 condos for sale in Ken Caryl
- 6 condos are pending sale
- 5 condos sold in Ken Caryl in September
- 2 condos for sale average $289,750 and have been on the market 89 days
- 6 pending sale average $240,133 and have been on the market 15 days
- 5 condos that sold averaged $282,760 (99% of asking) and were on the market for 18 days
There are some interesting facts worked into these numbers as well. Of the 11 homes pending sale in the Ken Caryl Valley, 4 were on the market less than 1 week. Those 11 homes range between $625,000-$1,350,000. There were 3 homes listed above $1M that sold in September, but they only fetched 82% of their asking price. In the Plains, even though the average Days On Market was 36 for the sold homes, 3 of the 4 lasted less than 1 week…the 4th was an agent-owned home that lasted 4 months.
As we look at these numbers, a few things stand out. Luxury homes in the Valley are selling, but they’re not getting anywhere close to their asking price for the most part. The Ken Caryl Plains is considered a “move up” neighborhood, but with prices accelerating so quickly, it is harder for the move ups to move out, because fewer people can afford to move in.
As for the argument that things are always slower this time of year, consider the following. Compared to September 2016, the Ken Caryl Valley saw 30% fewer sales, days on market was 55% longer, and prices were up 17%. Home sales in the Ken Caryl Plains dropped 55%, days on market were an astonishing 86% longer, and prices rose 5.6%. There were 58% fewer condo sales in Ken Caryl, days on market were 72% longer, and prices rose 23%. Those numbers suggest far more than a seasonal lull.
So the real estate dilemma in Ken Caryl remains the same. Lots of people want in. Few people are willing to move out. If you would like to know what your home is worth in today’s market, you can get a free estimate on my website. You can also view all of the homes for sale in Ken Caryl on my website.