I’m often asked if our market is slowing down or cooling off. Just like the majority of Austin, CANYON CREEK’S incline in home prices is not as steep as they were in the spring, but inventory is low, and homes are selling!
Buyers have more options, and it feels like we are moving into a more seasonal cycle of the market, certainly not retreating. Buyers have more time to decide to make an offer rather than in hours like in the spring.
We are now experiencing more truth in the market with new sold comparable prices justifying the asking price. Homes appraised closer to asking prices in the Third Quarter 2021. Not every listing is receiving multiple offers, it all depends on price and condition.
The average sold price in Canyon Creek is up 42%, days on market is up 38% and sold price/per square foot is up 39%. Last year at this time we were seeing prices begin to escalate due to low inventory.
Canyon Creek Third Quarter 2021
There are 3 Active homes found on September 30, 2021 (out of 1,330+ homes) and 8 Contract Pending homes.
Homes Sold
Home Sales increased 94%
SOLD prices increased 42%
SOLD Price/Square Foot increased 39%
Sales continue to be robust even with the ongoing disruptions in so many areas of our lives. Foreclosures are a nonevent in most of Texas due to the strength of our market. It continues to be a seller’s market.
We have less than a month’s inventory of homes. 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.
Real estate in Austin as well as in Canyon Creek has been undervalued for years. Real estate sales came out of COVID stronger than expected with a market pressed for inventory. It will take several years to catch up. There is not a better time to buy!
All Sold Information is derived from the Austin MLS system. If any Canyon Creek area home traded hands without a Realtor® involved; then it won’t be reflected in this report.
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. Let us see how we can help YOU!
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