Many are asking is our market slowing down or cooling off? Just like the majority of Austin, CANYON CREEK’S incline in home prices is not as steep as they were in the spring. We are still undergoing low inventory (slightly more than the spring) but not lower buyer demands. Buyers experienced “bidding fatigue” and are just coming out of the dog days of summer and back from much needed time off on vacations.
August was a big closing month up 100% over last August. Homes listed in July were quickly scooped up which caused record home sales.
30% of sales featured pools and the square footage difference was negligible. Buyers continue to look for larger homes to spread out with the continued threat of COVID. Sales will continue to be robust going forward even with the ongoing disruptions in so many areas of our lives.
Real estate in Austin as well as in Canyon Creek has been undervalued for years. We’re in the process of a price shift as more, great jobs and people move to our area. Real estate sales came out of COVID stronger than expected with a market pressed for inventory. It will take several years to catch up.
With only a handful of properties to choose from buyers are finding the market incredibly challenging with the dramatic appreciation in prices. Austin and Canyon Creek is finding itself among the least affordable areas due to such strong demand for shelter. Canyon Creek is a phenomenal master planned community and we are fortunate to have a strong HOA Board who is committed to making a difference in holding the community to high standards.
ACTIVE LISTINGS:
FIVE homes for sale out of 1,300+ homes
PENDING LISTINGS:
ELEVEN homes Under Contract
SOLD LISTINGS:
TWELVE homes SOLD
Looking at pending properties in Canyon Creek gives us an indication of what the traffic will bear and level of the buyer’s appetite. More hopeful buyers are accelerating their home buying timelines. Building equity is more important as most consumers want to swap volatile monthly rents with steady monthly mortgage payments.
Thinking of selling or making a move? Even in this market there is a strategy and method to selling. We can help you over the hurdles with no stress, just candid, reliable advice. We listed and sold 30% of the sales in August in Canyon Creek. Our passion lies in exceeding your expectations while helping you achieve your goals. Let’s see how we can help YOU!
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