The sky is not falling in Canyon Creek! This is a community that is holding its own even through the turbulence of the economy.
Why are the prices not falling drastically in this community? This master planned community is located in the RRISD and students enjoy excellent schools. Canyon Creek Elementary is located in the heart of the community and enjoys an exemplary status. Westwood High School is #78 in the nation and has an IB program. The 57 acre City of Austin Trail Head Park rests in the center of the community and is used for many community events. Canyon Creek Park sports 2 tennis courts, a Junior Olympia pool, a basketball court and playground. The community is conveniently located close to churches, shopping and main highways to major employers. Look at the statistics to see the trend over the last 3 years:
2006 ~~ 137 homes sold ~ 58 average days on market
$318,398 average list price
$312,357 average sold price
$103.17 average sold price/square foot
2007 ~~ 97 homes sold ~ 32 average days on market
$345,550 average list price
$340,794 average sold price
$113.66 average sold price/square foot
2008 ~~ 66 homes sold (as of December 4,2006) ~ 51 average days on market
$348,411 average list price
$338,831 average sold price
$111.59 average sold price/square foot
There may be lower numbers of homes sold in Canyon Creek and they make take longer days to sell but there is only a 1.82% reduction in the sold price per square foot from 2007 to 2008 and the 2008 homes sold are getting 97.25% of their asking price! At the end of December 2008 I will add those homes that sell to revise the numbers. In making a home buying decision Canyon Creek looks like the community that makes good sense to make a purchase.
Check for weekly stats for Canyon Creek on: http://www.canyoncreeknews.com an interactive website provided by Dorie & Gene for the Canyon Creek community. Also check out http://www.dillardreloaustin.com for Dorie & Gene's listings.
Dorie and Gene are residents of Canyon Creek and they are "YOUR COMPETITIVE EDGE!"