Latest news on the Canyon Creek Real Estate Market in July 2024….
What you need to know now…..
What it means for you…..
As we head into August and prepare for the start of the school year in two weeks, the Canyon Creek market data reveals trends we anticipated. While sales are down year-over-year and inventory is up, we're not seeing a dramatic drop in home values.
Current Market Snapshot:
uActive Listings: 7 homes, averaging 58 days on the market.
uUnder Contract: 2 homes, averaging 66 days on the market.
uBoth active and under-contract properties have experienced multiple price reductions.
Notable Sales: Two homes closed in July with an average list to sell ratio of 96.5% and 54 average days on market (one was on 103 days).
Market Dynamics: Buyers currently have more options and hold a strong position in negotiations. Some sellers are feeling anxious and are eager to make deals. Sellers need to price their homes correctly and remain patient. Condition, updates, and presentation are crucial, and keeping a close eye on the competition is essential. Prices have adjusted since the first quarter of this year, so planning accordingly is vital.
An interesting look back from July 2017 to June 2024! Canyon Creek has come a long way in homes appraising!
Market Insights:
uAccurate Pricing: Essential for attracting offers quickly.
uProperty Condition: Well-maintained and updated homes have a competitive edge.
uEffective Marketing: Properly presented properties are more likely to receive compelling offers and expedite the contract process.
Making a strong first impression is key to capturing buyer interest. If you're considering listing your home or have questions, I invite you to discuss your goals with us. Together, we can determine if now is the right time for your next real estate move. Let's connect and navigate this evolving market landscape together.
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