Canyon Creek Market Report September 2017

Canyon Creek Market Report September 2017

It’s hard to believe the third quarter is over and we’re into the final countdown of 2017! If you’re wondering if it is the right time to sell or buy a home…The answer is definitely yes! The Texas economy has hit a snag with the massive destruction of Hurricane Harvey but as always Texas is pulling together and showing the world what team work and caring about each other can do in the face of adversity!

After the outstanding performance of Austin’s real estate market in August everyone is asking “Now what”? No one has the magic answer but I depend on our local economists to give me insight coupled with my experience working daily in our real estate market. Read my post on my blog in September for my take on our Austin Real Estate.

Buyers seeking jobs in Austin will always consider living in the Canyon Creek Subdivision because of its rolling hills topography, broad tree lined streets, neighborhood diversity and excellent schools. Canyon Creek is where you’ll find neighbors are friends; streets are safe and the nights quiet.

Canyon Creek is one of the most desired neighborhoods in NW Austin. It’s a prestigious master planned community that boasts several parks, a Junior Olympic pool, tennis courts, nature trails, top-notch public schools, close proximity to our lakes, extensive entertainment and dining options. Canyon Creek offers homes from the high $300,000’s to the mid $600,000’s and includes 2 gated sections offering detached garden/condo home living options. Many who live in Canyon Creek lived here for years and bought and sold more than one home in the community. We are excited about the bath renovation at the community pool and added activity center on tap for construction in late 2017.

Here are the most up-to-date stats on the Canyon Creek neighborhood…

Active Listings in Canyon Creek

As of September 30, 2017 there’s 17 Active resale homes (at this time no condos or garden homes) in Canyon Creek priced from a low of $425,000 to a high of $600,000 with average days on market of 74 days. Five of these homes have been on market for over 125 days. There is a 2+ months supply of homes.

Pending Sales in Canyon Creek

As of September 30, 2017 there are 5 homes under contract waiting to close with an average of 41 cumulative days on market. Buyers are looking for well-priced and well-presented listings and are ready and willing to make offers.

Homes Sales in September 2017

Only 3 homes closed in the Canyon Creek Subdivision in September, 57% less than September 2016. The 3 sold homes enjoyed a 98% List to Sell Ratio (same as 2016) (of the last list price) and days on market were down 17% compared to September 2016.

Sellers need to travel further to meet the expectations of buyers.

Today’s buyers are savvy about current home values and inventory and are concerned about rising interest rates. They are resisting overpriced listings. The current active homes are seeing elevated days on market and price reductions. Presenting your home in its best light coupled with listing at market price is the key to going from Active to Sold.

Canyon Creek Real Estate Summary

Bottom line: September 2017 home sales in Canyon Creek decreased by 57% over 2016. Sold prices decreased by 9%. The price/square foot of homes sold in September 2017 increased by 10%. The size of the homes sold decreased by 17% thus we saw smaller homes sell for a higher price/square foot which is the standard rule of thumb. Well-presented and priced properties received offers in an average of 41 days.

Our fall market usually picks up in the middle of September and this year it might be a tad later due to the aftermath of Hurricane Harvey and those preparing their income taxes. Be on the lookout for properties I’m listing that are being carefully prepared to meet the expectations of buyers.

If you’re considering selling your home allow me to partner with you in determining the right price. Handling the demand, offers and dialog with appraisers requires a seasoned professional like me with systems and processes in place. As a Canyon Creek resident since 1994 I know the intricacies of our community and our hyper-local real estate market. Procuring the maximum dollar for your home in any market is the key to being a successful seller. You need a full service real estate agent who has a long-standing history of doing just that!

Homes in Canyon Creek Subdivision in NW Austin, TX that are selling the quickest have several characteristics in common:

* They are well maintained

* Reasonably updated

* Clean and uncluttered

* Priced according to the current market conditions

Meeting these conditions, your home has an excellent opportunity to be seen and sold in advance of others in the Canyon Creek Real Estate Market!

Homes For Sale in Canyon Creek

Please check out a complete list of available Canyon Creek homes: