Are you familiar with Canyon Creek ? It’s one of the most desired neighborhoods in NW Austin. It’s a prestigious master planned community containing two parks (Canyon Creek Park and Trailhead Park), a Junior Olympic pool, tennis courts, nature trails, close proximity to extensive entertainment and dining options. Homes range from the mid $300,000’s to the mid $600,000’s.
It includes 2 gated sections offering detached garden/condo home living options: The Villas of Canyon Creek, and The Enclave. There are another 47 single family homes built by David Weekley in a section called Canyon Creek West.
Home sales for Canyon Creek are in for March 2019. If you’re wondering if it is the right time to sell or buy a home…the answer is definitely yes! There is only 2 months’ supply of inventory in Canyon Creek. It’s the spring market and buyers are waiting for new listings to hit the market. If they are priced and stage right they are making offers quickly.
Active Listings in Canyon Creek
As of March 31, 2019 there are only 5 Active resale homes in Canyon Creek. There are 1,330+ homes in the community so inventory is a tiny fraction of homes! They are priced from a low of $472,900 to a high of $595,000 with average cumulative days on market of 64 days.
Pending Sales in Canyon Creek
As of March 31 2019 there are 7 Contract Pending homes. With 5 Active and 7 Contract Pending homes buyers are making offers on market priced, well staged homes. The average days on market for these 7 homes are 6 days! We need inventory for buyers looking….sellers are you listening?
Homes Sales in March 2019
As of March 31, 2019 in Canyon Creek, only 2 homes closed, down from March 2018 by 67%. The 2 sold properties were 22% smaller in size than in 2018. Buyers were attracted to smaller square footage with quality upgrades. The days on market in March were down 93% compared to 2018.
A note to sellers in Canyon Creek:
Today’s buyers are savvy about current home values and available inventory. They are concerned about rising interest rates, resist overpriced listings and many young relocating millennials are looking closer in to be where the action is in Austin. The 78741 zip code (East Riverside) is where most relocating buyers are making offers.
However with the expansion of Apple there is renewed interest in homes close to the new campus and there is limited resale opportunities. There are new communities close to the campus that are seeing record sales because they can offer new construction options at affordable prices.
Canyon Creek Real Estate Summary:
Bottom line March 2019 Canyon Creek Homes sales:
- Number of homes sold decreased by 67%
- List price down 11%
- Sold price decreased by 9%
- List price per square foot up 13%
- Sold price per square foot increased by 14%
- Number of days on market decreased by 93%
- Average square footage decreased by 22%
Please note smaller homes closed in March 2019 thus the average price went down but look at the price per square foot price! Smaller homes always garner a higher price per square foot price and especially single story homes.
We need Inventory… We are in the spring market! Are you considering selling in the near future? Are you curious about your home’s value or how to prioritize updates/repairs before selling? Let’s have a no pressure conversation to discuss your home/situation. It makes a difference when the agent you hire keenly follows neighborhood trends and market dynamics.
Hiring the right Canyon Creek Realtor® is critical in your home selling success.
Homes in Canyon Creek Subdivision in NW Austin, TX that are selling the quickest have several characteristics in common:
- 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!
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.