It’s the same song…. CANYON CREEK’S home prices are continuing to push new boundaries as buyer demand continues. Its simple economics… our demand for housing is greater than our supply. It’s fueled by SOLID job creation, low interest rates and compared to other parts of the country, undervalued housing.
Buyers and sellers are finding the market incredibly challenging with the dramatic appreciation in prices. In April, 5 listings closed with an average SOLD price increase of 46% compared to last year.
To put things in perspective there was one house closed over an astounding $1,000,000. Many buyers experiencing fatigue made a decision, as last resort, to throw out an offer a seller can’t refuse. Not every buyer can accommodate this practice and some are calling it quits as they grapple with losing out in bidding wars time and again.
Many buyers are forced to renew their leases and vowing to take a break from the “mad” searching for a home. Summer is approaching and a much needed vacation is being planned. The demand is still high but we just might see a reduction in the “frenzy” of the market and not as many offers as we saw first quarter. It might be just the opportunity for buyers with grit and determination to stay the course.
ACTIVE LISTINGS:
THREE homes for sale out of 1,300+ homes
PENDING LISTINGS:
SEVEN homes pending
SOLD LISTINGS:
FIVE homes pending
Canyon Creek homes are appreciating so quickly, sold comparable data more than a month old are not relevant. We have less than a month of inventory.
Looking at pending properties in Canyon Creek gives us an indication of what the traffic will bear and level of the buyer’s appetite. I am utilizing a listing strategy to ensure homes will bring the highest price in this record low level of inventory and highly competitive atmosphere.
Thinking of selling or making a move? If you want to grab top dollar for your home Let’s talk. Even in this market there is a strategy and method to selling. We can help you over the hurdles with no stress, just candid, reliable advice. Our passion lies in supporting you and exceeding your expectations.
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