Home sales in Canyon Creek for February 2020 are out!
In February 2020 the average sold price increased year over year by 16% to $480,000
The number of home sales decreased by 50%!
In February 2019, 4 homes sold and in January 2020 - 2 homes sold (there was no inventory). New listings started to hit the market in February with 6 homes going under contact in an average of 2.5 days with multiple offers! It’s a double edged sword….Good news for sellers if you got in early your home has increased in value. Bad news for buyers trying to purchase their forever home or just a place to call home before prices becomes unachievable.
Buyers need housing and are anxious to take advantage of the current low interest rates and are looking for well cared and updated properties.
Even the Wall Street Journal named Austin as the hottest market in the U.S (second year in a row)!
Austin and surrounding areas never really experienced the recession like the rest of the country. The quality of life, weather and diversified economy draw companies to Austin with new residents moving here in droves.
Active Listings in Canyon Creek
As of February 29, 2020 there are only 3 active resale homes in Canyon Creek out of 1,330+ homes in the community.
Pending Sales in Canyon Creek
As of February 29, 2020 there are 6 homes under contract. Buyers are anxiously waiting for new listings....... so many are in need of housing we just can't keep up with the demand!
Homes Sales in February 2020 The 2 sold properties were up 16% in sold price. The days on market in February 2020 was down 59% and sold price/square foot prices was up 2% from February 2019. Larger SF homes sold in 2020 with an increase of 17%. Usually small homes command a higher price/SF but the tide turned and larger homes kept pace and sold slightly higher, as demand soared.
A note to sellers in Canyon Creek:
Today’s buyers are knowledgeable with facts in hand and want a home that is well maintained and they are looking in many areas of Austin and beyond for the best value.
February 2020 has been another record year for home values in Canyon Creek. Values are increasing and so far in 2020 the number of homes sold is steady with last years numbers. I will be checking to see if First Quarter numbers follow the same pattern.
More jobs are coming to Austin which translates to more folks headed our way! As long as jobs keep coming this way there are extra innings in Austin's bullish market.
If you’re considering listing your home the spring market is in full swing and you need to partner with me 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've been a neighborhood specialist and actively involved in the market with first-hand knowledge of inventory fluctuations and home values in our community. Procuring the maximum dollar for your home is always my goal. You need a full service real estate agent who has a long-standing history of producing results! Drop me a line or give me a call to discuss. No pressure, just honest and reliable advice.
Melissa Stout is my daughter, grew up in NW Austin and had been with the NW Austin Coldwell Banker office for over 4 years. She can help you too!