Fourth quarter home sales are down by 38% but inventory played the biggest factor. It’s hard to produce record home sales with so few homes on the market.
The good news is the average sold price increased by 29%! Buyers purchased smaller homes (2,774 square feet average) thus the price per square foot shot up 45%!
The end of fourth quarter showed an uptick in activity by those focused buyers looking for a home with less competition. Many tried to beat the looming increase in interest rates and the rush of the anticipated spring market.
The days on market in fourth quarter decreased by 58%! We have less than a month’s inventory of homes folks and buyers are looking for fresh, well presented properties!
Canyon Creek Fourth Quarter 2021
There are 2 Active homes found on December 31, 2021 (out of 1,330+ homes) and 4 Contract Pending homes.
Home Sales decreased 38%
SOLD prices increased 29%
SOLD Price/Square Foot increased 45%
2022 will continue with high demand for housing as Austin continues down the path of leading the nation in robust job growth and economic expansion. UPTOWN ATX, a project in the Domain shows where the second downtown Austin is centered and Canyon Creek is 15 minutes away! Canyon Creek Elementary was ranked, according to US News and World Reports, as #7 in the state of Texas! Astonishingly four schools in the RRISD ranked in the top 15!
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. Remember whatever home you look at today will either be gone or more expensive tomorrow!
All Sold Information is derived from the Austin MLS system. If any Canyon Creek area home traded hands without a Realtor® involved; then it won't be reflected in this report.
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