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October 2022 Market OverView in Canyon Creek Austin Latest news in Canyon Creek Home Sales in October 2022

What you need to know……

How it impacts you……..

We don’t have a crystal ball, but we do have experience, data and understanding of how to interpret the data. What we do know is it’s frustrating for you to be positive when you’re bombarded with such negativity. The headlines are stating “alarming inventory levels” but remember we have been looking at weeks and sometimes days of inventory and now are looking at months. In Canyon Creek we are experiencing 1.25 months of inventory. That is significantly lower than the 6 months which is considered a balanced market.

     

October sales were a result of homes coming on the market in September. Two of the four sales were my listings. Why did my listings receive offers? They were staged well and priced to current market values, and both sold for full price.

We must acknowledge prices are not going to continue to escalate like in the past 2 years. The market is re-balancing; however, we are still in a robust housing market in Texas. Pending sales are a good indicator of future sales. We can expect to see fewer closed sales in November.

Homebuyers are frustrated by higher interest rates, home prices, inflation, and economic uncertainty. But look at the opportunities available to secure a home:

♦ Prices have stabilized

♦ Sellers are more negotiable and even willing to buy down interest rates

♦ There is less competition.

 

ACTIVE LISTINGS:

FIVE homes out of 1,300+ homes  

PENDING LISTINGS:

THREE homes

SOLD LISTINGS:

FOUR homes 

Navigating the market is evolving on a weekly basis. Sellers’s the more you do to prepare your home for market the stronger your position will be to attract an offer.  Stand out from the crowd! Nothing like fresh paint, stellar curb appeal and spectacular photos to catch the eye of the buyer. Remember the eye buys!

Pricing a home correctly is key! The “right” price brings buyers, fewer days on market and higher prices. The number of price reductions is up considerably so don’t fall into that trap by overpricing!

We serve our clients by arming them with strong market knowledge and seasoned experience. Want to know what a buyer would pay for your home? We stay on top of the data to make sure we are at the forefront of the market to best serve our sellers and buyers! Call us for a conversation on how the balancing in our market might impact your plans. Let’s see how we can help YOU!