CANYON CREEK’S home prices are not in a bubble. Prices are rising for the right reasons. Inventories are at record lows, developers and builders cannot build quick enough to meet demand and interest rates are still low! Lending parameters are strict and there are more credit-worthy borrowers because they are equity and savings rich. Post COVID lifestyles are driving up values. Real estate in Austin as well as in Canyon Creek has been undervalued for years. We’re in the process of a price shift as more, great jobs and people move to our area.
Buyers and sellers are finding the market incredibly challenging with the dramatic appreciation in prices. In June, 5 listings closed with an average price increase of 67% compared to last year. The average price/square foot was up 58%. The average square footage remained unchanged as more buyers purchased larger homes so they could spread out.
ACTIVE LISTINGS:
THREE homes for sale out of 1,300+ homes
PENDING LISTINGS:
THIRTEEN homes Under Contract
SOLD LISTINGS:
FIVE homes SOLD
Our homes are appreciating 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. More hopeful buyers are accelerating their home buying timelines. Building equity is more important as most consumers want to swap volatile monthly rents with steady monthly mortgage payments.
Thinking of selling or making a move? 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 exceeding your expectations while helping you achieve your goals. Let’s talk!
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