US Expansion slows yet Austin and submarkets continue to outperform the region and the nation. I’m often asked if our market is 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, but inventory is low and homes are selling!
September sales were up 33% over 2020 sales. Late last summer our market started gaining traction after a 2-3 month pause due to COVID. We are still undergoing low inventory (slightly more than spring) and plenty of buyer demand with 150 people a day moving to Austin.
Buyers have more options in certain communities and it feels like we are moving into a more seasonal cycle of the market, certainly not retreating. Buyers have more time to make a decision rather than in hours like last spring. Homes coming on the market are still receiving multiple offers, but not every listing.
The average sold price in Canyon Creek is up 35% compared with last September and days on market is up 240%. The sold price per square foot is up 36%.
Sales continue to be robust even with the ongoing disruptions in so many areas of our lives. Foreclosures are a nonevent in most of Texas due to the strength of our market. It continues to be a seller’s market.
Real estate in Austin as well as in Canyon Creek has been undervalued for years. Real estate sales came out of COVID stronger than expected with a market pressed for inventory. It will take several years to catch up.
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 our community to high standards.
ACTIVE LISTINGS:
THREE homes for sale out of 1,300+ homes
PENDING LISTINGS:
EIGHT homes Under Contract
SOLD LISTINGS:
EIGHT homes SOLD
We have less than a month’s inventory of homes. 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. 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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