Canyon Creek Subdivision in NW Austin Real Estate Activity January 2015
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January 2015 Real Estate Market Results in Canyon Creek
Are you wondering if it is the right time to sell or buy a home? This report reviews the current market conditions and expectations as we finished the first month in the first quarter of 2015.
Canyon Creek is one of the most desired neighborhoods in NW Austin. It’s a prestigious master planned community that boasts several parks, a Junior Olympic pool, tennis courts, nature trails, top notch public schools, close proximity to our lakes, extensive entertainment and dining options. Canyon Creek offers homes from the mid $300,000’s to the mid $600,000’s and includes 2 gated sections offering detached garden/condo home living options.
Active Listings in Canyon Creek
As of February 4, 2015 the inventory in Canyon Creek shows 1 resale home on the market. There is a less than a month’s supply of inventory thus Canyon Creek enjoys a true seller’s market. If you are thinking of selling in Canyon Creek now is an excellent time to list your home. If you are priced and staged well your home will attract buyers looking to make offers. If you’re a buyer I have several new listings coming on market so give me a call for details.
Pending Sales in Canyon Creek
There are currently 6 pending resale homes in Canyon Creek. This demonstrates buyers are making offers but have taken their time to find the right home to meet their needs. Buyers are resisting a continued increase in prices. The rush to buy ebbed due to the shortage of quality inventory and an alarming increase in the price per square foot. Canyon Creek sellers who price their homes according to current market conditions will benefit with the opportunity to sell. Many buyers are looking for a win-win transaction for their money.
Homes Sales in January 2015
There were 2 closed resale home sales in Canyon Creek Subdivision in January 2015 equal to the 2014 home sales (typical for this time of year). These homes enjoyed a 94% list to sell ratio (down from home sales in 2014). Homes stayed on market an equal length of time and sold prices were up 25% from January 2014. However price per square foot went down 20% because of buyers quest in December to find those end of year bargains! Inventory is almost non-existent while demand is high. Buyers are more selective in their home buying choices and are not racing to make an offer. The frantic pace of the spring 2014 market jaded many buyers pushing them to rentals. But stand by that could change as the spring market heats up! Austin is a leader in the nation for job growth so demand is still high with over 100 people a day moving to Austin.
The natural slowdown of the holiday months was exacerbated by the lack of quality listings. The investors were out to take advantage of year end savings and they found bargains as sellers made the decision to cut their losses and move on. Last year the small homes in the gated section closed in January…..this year larger homes that had been on the market were sold at discounted prices.
Looking at the Pending Properties pricing is weaker versus the higher prices in the spring of 2014. There is a short sale in the mix and a corporate owned property which is dragging down the average. Many sellers are waiting to come on the market later in first quarter after recuperating from the holiday season and sprucing up their homes. Sellers need to remember that with the numbers of buyers moving to Austin and the need for housing, it might be a good time to list your home while inventory is so low.
Canyon Creek Real Estate Summary
Bottom line: The current Canyon Creek real estate market exists with a slower more controlled pace and a low inventory of homes. The recent lower sold data will affect pricing on new listings coming on the market. It will be a balancing act to determine the right price and that is where I can help you. Handling the demand, offers and dialogue with appraisers requires a seasoned professional like myself with systems and processes in place to obtain fairly, the highest and best price for sellers. The demand continues to increase exponentially with the growth of the population of Austin. We have many listings coming on market and are carefully preparing them to meet the expectations of the buyers.
Homes For Sale in Canyon Creek
Please check out a complete list of available Canyon Creek homes:
Search for homes in Canyon Creek
All data is derived from the Austin MLS System. If any Canyon Creek home traded hands without a Realtor involved, then it won’t be reflected in this report.
This market report is for general information only and does NOT replace a comprehensive market analysis. Each home and its amenities can range dramatically; please consult with me to determine your specific values. Put my expertise to work for you, call me at 512-346-1799 for a free comparable market analysis on your home.
Check my other posts on the market in Canyon Creek:
Canyon Creek 2014 Year End Market Report for 2014
Canyon Creek Fourth Quarter Market report for 2014
Please visit the interactive website we provide for the community: CanyonCreekNews.com.
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