Canyon Creek was on track to have a record breaking year in 2018 for home sales until the fourth quarter slide. Final numbers proved 2018 exceeded 2017 by 7% but the average sold price, average price/square foot all ended up negligibly different from 2017. No gain..no loss. Days on market were up 69%.
So what happened? Austin is a hot market but not all over Austin. We may be the city of choice but many buyers want to live in the inner city locations and are buying downtown and in East Riverside. They love new construction being built.
With only a two months supply of inventory in Canyon Creek buyers are anxiously waiting for fresh properties to come on the market. We need inventory so if you’re considering selling I can provide you with a free market analysis. Reach out to me and let’s talk!
Are you familiar with Canyon Creek in NW Austin? 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 mid $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 $440 a year (unless living in the 2 gated sections) and the property tax rate for 2018 is 2.3268 per $100 valuation.
79 residential homes sold in Canyon Creek in 2018 (up from 74 in 2017) and they came in a wide range of sizes, styles and values.
To sum up the home sales in 2018 in Canyon Creek:
A question I’m often asked is: “Have the sold prices in Canyon Creek real estate market gone down?” The answer is no but they haven’t risen either. Our market traveled at lightning speed and the suburbs moved from a sizzling housing market to a controlled market. Keeping perspective is the key. Many sellers fell into the trap of “imagination pricing” and found buyers perceived their homes were not a good value when compared to other communities with better amenities and new construction.
Current inventory is staying on the market longer as buyers resist continued increase in prices. There are currently only 5 Active homes on the market. That is a minsule number out of the 1,300 + homes in the community. Sellers, it’s time to list but important to be realistic about your pricing and understand you have to travel farther to meet the expectations of the buyers!
With close proximity to the new Apple campus there is a desire for homes in CC that are priced and presented well.
Presenting your home in its best light coupled with listing at market price is the key to going from Active to Sold.
PS: If you are considering a move to NW Austin please check out Canyon Creek, a premier master planned community. To learn more about Canyon Creek visit my website provided for the neighborhood.
If you’re a property owner interested in knowing current market trends…reach out to me at 512-346-1799 or dillard@reloaustin.com Let’s talk! I’m happy to provide you with data to make an informed decision whether buying or selling and provide you with award winning service!
