As we close the chapter on 2024, the Canyon Creek real estate market reflects a notable transformation. Over the past two years, the number of homes sold has decreased by 40%, while sales prices have softened by 13%. These shifts reflect a broader market recalibration following the unprecedented highs of 2021 and 2022.
Despite the challenging landscape, there are reasons for optimism. In November, I listed a Canyon Creek home that was competitively priced and thoughtfully prepared for the market. The timing aligned with post-election activity, sparking renewed buyer interest. Following active open houses and steady showings, the home received an offer after just 21 days on the market and became the first sale to close in 2025 in Canyon Creek! This success underscores the importance of strategic pricing, expert preparation, and a keen understanding of buyer behavior in today's market.
Reflecting on Trends: 2022–2024
The Canyon Creek market’s trajectory has been dynamic, driven by various factors:
- Market Activity: Home sales experienced a significant 66% decrease from 2022 to 2024, as buyer activity slowed.
- Price Adjustments: While 2024 sold prices were only 1% lower than 2023, they marked a 13% decline from the peak of 2022.
- High-End Market: The highest sale price in 2024 was $980,000, a 25% drop from the $1,300,000 high in 2022.
External factors also played a role in shaping the 2024 market. Inflation concerns, economic uncertainty, geopolitical events, and cautious buyer sentiment influenced decisions. Many buyers took a “wait-and-see” approach, prioritizing favorable mortgage rates over immediate purchases.
Current Market Snapshot
As of December 31, 2024:
- Five homes remain active out of 1,338+ properties in Canyon Creek.
- One home is under contract.
These figures highlight the importance of well-priced and visually appealing listings. As I always say, “The eye buys.” Presenting your home at its best remains crucial to attracting motivated buyers.
Looking Ahead to 2025
The stabilization of prices in 2024 suggests we may see increased activity in early 2025. Sellers in Canyon Creek still benefit from prices that are 42% higher than pre-COVID levels, which is a strong foundation for the market’s next phase.
With over 33 years of real estate experience, I’ve guided clients through the ebbs and flows of Canyon Creek’s housing market since 1991. My daughter, Melissa Stout, brings her local knowledge and expertise to our team. Having grown up in NW Austin and graduated from Westwood High School and UT, she’s been a trusted partner in our Coldwell Banker office for over nine years. Together, we are committed to providing our clients with deep market insights and expert guidance tailored to their unique goals.
Let’s Plan Your Next Move
If you’re considering buying or selling in 2025, now is the time to strategize. Let’s discuss your goals and explore whether this is the right moment to make your move. Ready to find out what a buyer would pay for your home? Let’s chat!
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