Latest news on the Canyon Creek Real Estate market in May 2023….
What you need to know now…..
What it means for you…..
♦ Canyon Creek real estate in May 2023 saw an increase in Home Sales of 350% from May 2022!
♦ Days on market in May were up 33% compared to the year before but down slightly from April.
♦ Home prices increased slightly month-over month, and decreased year-over-year by 23%.
♦ The list to sell ratio was 99% in May.
♦ Inventory continues to be a challenge.
Canyon Creek HOUSING MARKET HIGHLIGHTS: May 2023
My takeaway for May is we are seeing stabilization in home values. Canyon Creek sales is giving us solid data on what the market is supporting, which is giving buyers confidence.
However, many home buyers remain frustrated by higher interest rates, rising home prices, and economic uncertainty. Consequently, mortgage applications have fallen since last year as buying "power" declines.
If inventory continues to be a challenge we will see fewer sales in the summer months, which will impact home price appreciation.
SIX homes out of 1,380+ homes
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!
Don’t fall into the trap of overpricing! My four April listings were priced right, staged right, marketed heavily and all closed in May! Everyone needs a place to call home and these 4 buyers are thrilled they have a new home!
We serve our clients by arming them with strong market knowledge and seasoned experience. Are you curious about listing your home now? Do you have questions? Let’s chat about your goals/intentions and figure out if 2023 is the right time for you to make a move.