November 2022 Market Review in Canyon Creek Austin, TX 78726

By
Real Estate Agent with Coldwell Banker Realty ~ 512.750.6899

 

November 2022 Market Review in Canyon Creek Austin, TX 78726

Latest news in Canyon Creek Home Sales in November 2022

What you need to know……

How it impacts you……..

We don’t have a crystal ball, but we do have experience, data and understanding of how to interpret the data. What we do know it’s frustrating to be positive when you’re bombarded with such negative headlines like “alarming inventory levels.” We have been looking at weeks and sometimes days of inventory and now are looking at months. In Canyon Creek we are experiencing 1 month of inventory. That is significantly lower than the 6 months which is considered a balanced market.

November sales were a result of homes that languished on the market (124 days) after considerable price reductions because they were not priced correctly when entering the market.

We must acknowledge prices are not going to continue to escalate like in the past 2 years. The market has shifted; however, we are still in a robust housing market in Texas. Pending sales are a good indicator of future sales. We can expect to see the same sales closing in December.

Homebuyers are frustrated by higher interest rates, home prices, inflation, and economic uncertainty. The holidays are upon us so many buyers are on hold but they will stop and look at an exciting property hitting the market. I listed a spectacular home on 9616 Cinnabar Trail the week-end before Thanksgiving. Melissa held an open House with 18 interested families in attendance and received multiple offers going over list price. Our Canyon Creek market is not dead!

In 2021 from Jan. 1 – Nov. 30th 72 homes closed. In 2022 45 homes closed, which is 38% fewer homes sales. However, the sold price increased by 12% in 2022 and both years, 5 properties sold for $1million or more and in 2022 there will be another closing over a million in December, making that 6 homes in 2022!

7 properties over the last 90 days have removed their home from market because of lack of showings and excitement. There are ways to correct this with proper pricing, show condition, networking and extensive marketing.

   

ACTIVE LISTINGS:

Three homes out of 1,300+ homes  

PENDING LISTINGS:

THREE homes

SOLD LISTINGS:

Three homes

 Navigating the market is evolving on a weekly basis. Sellers’s the more you do to prepare your home for market the stronger your position will be to attract an offer.  Stand out from the crowd! Nothing like fresh paint, stellar curb appeal and spectacular photos to catch the eye of the buyer. Remember the eye buys!

Pricing a home correctly is key! The “right” price brings buyers, fewer days on market and higher prices. The number of price reductions is up considerably so don’t fall into that trap by overpricing!

We serve our clients by arming them with strong market knowledge and seasoned experience. Want to know what a buyer would pay for your home? We stay on top of the data to make sure we are at the forefront of the market to best serve our sellers and buyers! Call us for a conversation on how the shifting market might impact your plans. Let’s see how we can help YOU!

 

Posted by

Austin TX Canyon Creek Real Estate Agent

(512) 750-6899
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Canyon Creek Neighborhood

I specialize in Listing and Selling homes in the NW Austin Area. I use my experience to guide clients through the process, whether selling or buying. It’s a beautiful thing when your career and a passion come together. I love what I do!

Comments (19)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Dorie. While you confess to not having a crystal ball you have an unsurpassed track record in Canyon Creek. Nuff said. Enjoy your day.

Dec 03, 2022 04:59 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

I agree with Wayne, we do not have a crystal ball.  However, your presentation is very detailed. Bill 

Dec 03, 2022 05:27 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Good information for people looking to buy or sell in the Canyon Creek area of Austin TX

My crystal ball hasn't worked right since I took it in to be serviced and they gave it to an experienced technician

Dec 03, 2022 05:28 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Dorie, nice market update for Canyon Creek, and your days on market are sure increasing.

Dec 03, 2022 06:37 AM
Roy Kelley
Retired - Gaithersburg, MD

Families on the move will love your outstanding local real estate reports.

Dec 03, 2022 07:14 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Dorie your statement:

"We don’t have a crystal ball, but we do have experience, data and understanding of how to interpret the data."

Was very well put.  A Buyer and Seller can't expect more than this when it comes to sharing market conditions with their clients.

Dec 03, 2022 09:28 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Dorie, I'm surprised to read the days on the market totals for Canyon Creek. The market is certainly changing!

Dec 03, 2022 09:35 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Dorie- My SiL's niece and her husband are still eyeing something to purchase in Austin!!! I think they've spoken with John. DOM surprised me. 

Dec 03, 2022 11:52 AM
Emily Medvec
eXp Realty LLC - Santa Fe, NM
Broker | Realtor | Serving Santa Fe & Northern NM

Dorie I think your knowledge and experience is better than any crystal ball for buyers and sellers seeking to learn about real estate and homes in the Canyon Creek area of Austin TX!

Dec 03, 2022 12:16 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Dorie... for the size of a community like Canyon Creek, I'd say your inventory remains razor-thin.

Dec 03, 2022 12:26 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

I am certain the buyers and sellers of homes in Canyon Creek appreciate your market perspective, Dorie.

Dec 03, 2022 11:50 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Thank you Wayne Martin 

Dec 04, 2022 05:41 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Thank you Bill Salvatore - East Valley 

Dec 04, 2022 05:41 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

It's amazing how that works Ed Silva 

Dec 04, 2022 05:41 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Hi Joan Cox ..;days are increasing for the homes that were over priced to begin with. Price them right and they go under contract in a reasonable length of time.

Dec 04, 2022 05:42 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Thank you Roy Kelley 

Dec 04, 2022 05:49 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I agree George Souto !

Dec 04, 2022 05:49 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Hi Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400,

Days are increasing for homes that were over priced. Price them right and they go under contract in a reasonable length of time.

Dec 04, 2022 05:50 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Kathy,

Hopefully they find something soon! Days are increasing for homes in Canyon Creek that were over priced. Price them right and they go under contract in a reasonable length of time.

Dec 04, 2022 05:51 AM