Latest news on the Canyon Creek Real Estate market in August 2024….
What you need to know now…..
What it means for you…..
As we head into September 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 drop in home values but we are seeing a drop in price/SF.
Current Market Snapshot:
uActive Listings: 7 homes, averaging 84 days on the market.
uUnder Contract: No homes
uActive Listings have experienced multiple price reductions.
Notable Sales: Two homes closed in August with an average list to sell ratio of 99% and 70 average days on market.
Market Dynamics: As we move further into the second year of our market correction since May of 2022, we're seeing some great homes at good values, with sellers becoming more reasonable. Traditionally, the Fall/Winter season slows down, but potential rate reductions might inject some much-needed energy into the market. We've seen some movement, but the question remains, is it enough to make a real impact?
In Austin, some submarkets are performing better than others, but Canyon Creek is currently experiencing a slowdown. Only 25 homes have closed in 2024, compared to 39 in 2023 and 47 in 2022. For sellers, pricing your home correctly and being patient is crucial. The condition, updates, and presentation of your home are more important than ever, and keeping a close watch on the competition is essential. Prices have adjusted since the first and second quarters of this year, so it's vital to plan accordingly.
An interesting look back from July 2017 to August 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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