Ken Caryl real estate is supposed to take off in the spring, just like every where else. April ushered in spring, and the home sales in Ken Caryl did what you’d expect. They sprouted, bloomed, whatever spring like adjective you’d like to insert here. As I look at Ken Caryl real estate, I divide the neighborhood into three distinct markets: The Ken Caryl Valley (homes on the west side of C470), the Ken Caryl Plains (often referred to as “The Ranch side” which is east of C470), and condos/townhomes in the Plains.
Ken Caryl Valley Home Sales
- 11 homes for sale in Ken Caryl Valley
- 18 homes pending sale
- 7 homes sold in the Ken Caryl Valley in April
- The 11 homes for sale average $998,300 and have been on the market an avg of 112 days
- The 18 homes under contract avg $773,039 and have been on for 45 days
- The 7 sales averaged $770,857 (100% of asking price) and were on for 7 days on average (6% price increase from April 2016)
Ken Caryl Plains Home Sales
- 3 homes for sale in the Ken Caryl Plains
- 10 homes pending sale
- 5 homes sold in the Ken Caryl Plains in April
- 3 homes for sale average $507,667 and have been on the market an average of 126 days
- 10 homes under contract avg $437,880 and have been on for 6 days
- 5 sales averaged $523,380 (98% of asking) and were on for 20 days (20.5% price increase over April 2016)
Ken Caryl Condo Sales
- 6 condos for sale in Ken Caryl
- 8 condos are pending sale
- 7 condos sold in Ken Caryl in April
- 6 condos for sale average $272,000 and have been on the market an average of 2 days
- 8 condos under contract avg $263,925 and have been on for 4 days
- 7 condos that sold averaged $256,286 (99% of asking) and were on for 5 days (17% price increase over April ’16)
There are a couple of interesting side notes to these numbers.
- Only 2 homes for sale in the Ken Caryl Valley are listed for less than $830,000
- 5 of the homes under contract in the Valley are listed over $950,000, 2 of those over $1M
- 5 of the 7 homes that sold in the Valley were on the market less than 1 week, 3 never hit the market
- 70% of the homes under contract in the Plains were on for less than 1 week
- 4 of the 5 sales in the Plains sold for over their original asking price
- All 8 of the condos that are pending were on the market less than 1 week.
None of this is surprising, none of this is something that we wouldn’t expect. What it is however is a sign of an unhealthy real estate market that is creating a lot of frustrations for people. If you’re looking to buy a home in Ken Caryl, at nearly any price point, you have to be fast and you probably have to make some concessions you’d rather not make. For those wanting to sell their home in Ken Caryl, the good news is that you’ll most likely sell in less than one week, and you’ll most likely get what you want or more. The bad news is that more and more contracts are falling out than ever before. I’ve got 2 theories on why that is…you’ve got buyers who are putting in offers on multiple properties, hoping that they’ll get one of them, and you’ve got a slew of inexperienced real estate agents allowing their buyers to do that and agents who simply don’t have the skill to hold a deal together through the whole process. Real estate is an easy industry to enter, an even easier industry to maintain your license, and in “hot” markets like these, the agent pool is over flowing.
If you are wanting to buy a home, I can’t recommend waiting as prices continue to soar and there’s no indication that they’ll do anything but rise in the extended future. For those wanting to sell, there are all sorts of safe guards you can put in place to ensure you’re not left homeless and to ensure that your home actually sells for top dollar. For those who love where they live and still want to take advantage of this market, I’m happy to do a free Equity Check Up so you can use the equity in your home to purchase an income producing property or a fun vacation home.
You can find out your home’s value for free on my website, or contact me for your free Equity Check Up.