Canyon Creek Market Report May 2018 - Austin TX
Home sales for Canyon Creek are in for May 2018! If you’re wondering if it is the right time to sell or buy a home…The answer is definitely yes! There is a 3+ months plus supply of inventory in Canyon Creek which is still a seller’s market and buyers are waiting for fresh properties to come on the market.
Buyers seeking jobs in Austin should consider living in the Canyon Creek Subdivision because of its rolling hills topography, broad tree-lined streets, neighborhood diversity, excellent schools, location to Lake Travis and major arteries to reach employers.
Canyon Creek is one of the most desired neighborhoods in NW Austin. It’s a prestigious master planned community that contains two parks, a Junior Olympic pool, tennis courts, nature trails, close proximity to extensive entertainment and dining options. Canyon Creek offers homes from the high $300,000’s to the mid $600,000’s and includes 2 gated sections offering detached garden/condo home living options
Here are the most up-to-date stats on the Canyon Creek neighborhood...
Homes Sold in May
Active Listings in Canyon Creek
As of May 31, 2018 there are 21 Active and Active Contingent resale homes in Canyon Creek priced from a low of $367,500 to a high of $610,000 with average cumulative days on market of 73 days. There is a 3+ month’s supply of homes.
Pending Sales in Canyon Creek
As of May 31, 2018 there are 10 homes under contract waiting to close with an average of 26 cumulative days on market.
Homes Sales in May 2018
As of May 31, 2018 in Canyon Creek 9 homes closed in May, down 25% from May 2017. The 9 sold homes enjoyed a 98.6% List to Sell Ratio (of the last list price) slightly less 2017 and days on market were up 115% compared to May, 2017.
A note to sellers in Canyon Creek:
Sellers must travel farther to meet expectations of buyers.
Today’s buyers are savvy about current home values and available inventory. They are concerned about rising interest rates and resist overpriced listings. The current active homes are seeing elevated days on market and price reductions. In Canyon Creek homes under $500,000 and smaller square footage homes are the most sought after in today’s market. Any property in good condition and priced well between $350,000 and $450,000 often are receiving multiple offers.
Canyon Creek Real Estate Summary
Bottom line: May 2018 home sales in Canyon Creek decreased by 25% and the sold price decreased by 7%. However the price/square foot of homes sold in May 2018 increased by 9%. The square foot size of the homes sold was 13% lower than in 2017. Out of the nine homes sold in May in Canyon Creek 6 of them were under $500,000 and sold faster than 3 larger homes priced from $520,000 - 610,000. Some buyers are choosing smaller homes with interest rates rising and loss of buying power. The desire is still to buy in Canyon Creek but for some they will have to settle for less to move into the community.
Preparation is the key to presenting your home in its best light coupled with listing at market price. If you’re considering selling your home allow me to partner with you in determining the right price. Handling the demand, offers and dialog with appraisers requires a seasoned professional with systems and processes in place. As a Canyon Creek resident since 1994 I know the intricacies of our community and our hyper-local real estate market. Procuring the maximum dollar for your home in any market is always my goal. You need a full service real estate agent who has a long-standing history of doing just that!
Hiring the right Canyon Creek Realtor® is critical in your home selling success. I’m a business manager providing World Class Service.
Homes in Canyon Creek Subdivision in NW Austin, TX that are selling the quickest have several characteristics in common:
- They are well maintained
- Reasonably updated
- Clean and uncluttered
- Priced according to the current market conditions
Meeting these conditions, your home has an excellent opportunity to be seen and sold in advance of others in the Canyon Creek Real Estate Market!
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, 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 influence the up or down price in the market dramatically; please consult with me to determine your specific value.
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