Ken Caryl real estate began showing some signs of a slight market correction in September. The news that you may be hearing about prices falling, or the market shifting are simply not true. The truth is that the market is beginning to stabilize a bit, and home sales in Ken Caryl showed that this past month. As we look at real estate in Ken Caryl, I divide the neighborhood into 3 distinct areas: 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 attached homes in the Plains.
Ken Caryl Valley Real Estate
- 12 homes currently for sale in the Ken Caryl Valley
- 12 homes pending sale
- 4 homes sold in the Ken Caryl Valley in September
- 12 homes for sale average $911,408 and have been on the market an avg of 41 days
- 12 homes pending average $1,003,625 and average 48 days on the market
- 4 homes that sold in Ken Caryl avg $858,950 (88% of asking) and had an avg 64 DOM
Ken Caryl Plains Real Estate
- 3 homes currently for sale in the Ken Caryl Plains
- 4 homes pending sale
- 5 homes sold in the Ken Caryl Plains in September
- 3 homes for sale average $614,600 and have been on the market an avg of 128 days
- 4 homes pending average $576,850 and average 24 days on the market
- 5 homes that sold in Ken Caryl avg $455,400 (96%) and had an avg 24 DOM
Ken Caryl Condo Sales
- 6 condos currently for sale in Ken Caryl
- 3 condos pending sale
- 5 condos sold in Ken Caryl in September
- 6 condos for sale average $309,483 and have been on the market 31 days
- 3 condos pending average $336,600 and average 16 days on the market
- 5 condos that sold in Ken Caryl avg $322,960 (94%) and had an avg 50 DOM
The real key points here are the longer days on market and the relatively low sales price to list price ratio. I can say confidently that there is no real shift, because the inventory remains remarkably low and the demand is not waning (the active listings and under contract homes are essentially a 1:1 ratio). You can look at the chart below to see that home prices are continuing to rise, and I believe they will continue to rise for years to come. The rate at which prices are rising is slowing down, but until our ratio of available homes to home buyers changes dramatically, we should not see prices decline.
If you would like to know the value of your home, you can get a rough idea of your home’s value on my website or I’m happy to provide a free, accurate valuation for you. If you are looking to buy a home in Ken Caryl, I am happy to chat and share with you how I can assist at no cost to you.