How were October 2018 Homes Sales in Canyon Creek?
Canyon Creek is one of the most desired neighborhoods in NW Austin. It’s a prestigious master planned community that contains two parks (Canyon Creek Park and Trailhead Park), a Junior Olympic pool, tennis courts, nature trails, close proximity to extensive entertainment and dining options. Canyon Creek offers homes from the high $300,000’s to the mid $600,000’s.
It includes 2 gated sections offering detached garden/condo home living options, The Villas of Canyon Creek, The Enclave and Canyon Creek West (47 single family homes built by David Weekley.)
Buyers moving to Austin often consider living in the Canyon Creek Subdivision because of its rolling hills topography, broad tree-lined streets, neighborhood diversity, excellent schools, location to Lake Travis and major arteries to reach employers. It’s conveniently located on Hwy 620 between Anderson Mill Road and Hwy 2222. HOA dues are a reasonable $400 a year (unless living in the 2 gated sections) and the property tax rate for 2018 is 2.3268 per $100 valuation.
Home sales for Canyon Creek are in for October 2018. If you’re wondering if it is the right time to sell or buy a home…The answer is definitely yes! There is a 1 month supply of inventory in Canyon Creek which is a strong seller’s market. Buyers are waiting for fresh properties to come on the market and are willing to wait for the right home to fit their criteria.
Active Listings in Canyon Creek
As of October 31 there are only 7 Active resale homes in Canyon Creek. There are 1,330+ homes so this is less than .o5% of the homes! They are priced from a low of $370,000 to a high of $555,500 with average cumulative days on market of 152 days.
Pending Sales in Canyon Creek
As of October 31 there are only 3 Contract Pending homes on the market. With only 7 Active, and 3 Pending homes it’s not a wonder now is a good time to list your home! Only 2 new listings came on in October and 3 homes went contract.
Homes Sales in October 2018
As of October 31 in Canyon Creek 5 homes closed in October, down 37.5% from October 2017. The 5 sold homes enjoyed a 99% List to Sell Ratio (of the last list price) the same in 2017. However days on market increased by 64% compared to the previous October. It is taking longer to receive an offer and our rainy weather hasn’t helped. Canyon Creek is still on track to sell more homes in 2018 than in 20117.
A note to sellers in Canyon Creek:
It’s still true, “Sellers must travel farther to meet expectations of buyers.”
Today’s buyers are savvy about current home values and available inventory. They are concerned about rising interest rates (it is impacting their ability to purchase), are resisting overpriced listings and willing to explore other options like moving out farther to find homes that fit their criteria. They love new construction homes.
The current active homes are seeing elevated days on market (average 152 days). We’ve seen many price reductions as we head into November. Only two new listings came on the market in October in Canyon Creek.
The three homes under contract are priced from $402,500 -$449,000 and around the 3,000 Square foot mark. Buyers are opting for less square footage to get into the community in their desired price point.
Canyon Creek Real Estate Summary
Bottom line in October Canyon Creek Homes sales:
- Number of homes sales decreased by 37.5%
- List price increased by 2%
- Sold price increased by 3%
- List price per square foot decreased by 5%
- Sold price per square foot increased by 4%
- Number of days on market increased by 64%
Let me assist you identify your short and long term housing needs. With home sales and interest rates rising along with decreasing inventory now is the time to make your move. Preparation is the key to presenting your home in its best light coupled with listing at market price. 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 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 always my goal. You need a full service real estate agent who has a long-standing history of doing just that!
Hiring the right Canyon Creek Realtor® is critical in your home selling success
Homes in Canyon Creek Subdivision in NW Austin, TX that are selling the quickest have several characteristics in common:
- 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!
All data is derived from the Austin MLS System. If any Canyon Creek home traded hands without a REALTOR® involved, it won’t be reflected in this report.
This market report is for general information only and does NOT replace a comprehensive market analysis. Each home and its amenities influence the up or down price in the market dramatically; please consult with me to determine your specific value.
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