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Latest news in Canyon Creek Home Sales for February 2023

What you need to know……  How it impacts you…….. 

In February Austin was hit with an ice storm that impacted all communities in Austin. Our trees were severely damaged with the freezing temperatures and all the ravages of the storm played havoc in our real estate market! Homes I planned on listing and presenting to the market have been put on hold as sellers are busy scheduling landscape and tree companies to clean up their properties! Those businesses are thriving and trying to get them scheduled has been an undertaking.

We do know we are seeing continued cooling of our market thus stabilizing home prices. Home buyers are making peace with fluctuating mortgage rates and are calling wanting to see when new properties are coming on the market. The sellers I’m talking with are more realistic in their expectations and willing to list to current market conditions.

February sales included only 1 home listed by Open Door. It was priced low to reflect their need to liquidate their overpriced inventory. When comparing the ultra-competitive first half of 2022, the numbers in 2023 don’t look good. However now that our storm is over and new listings will be entering the market, March will give a better indication of what to expect. Lenders are saying February is showing increases in loan applications, open houses are busy, pending sales in Austin (where there is inventory)is up, so we are starting to see more activity as buyers re-enter the market!

Sellers don’t get crazy thinking we are going back to the frenzy of the first half of 2022.  That is not happening!! You have to prep your home for success, have a proper marketing strategy and by all means price correctly! Prices are not going to continue to escalate like in the past 2 years. Our Canyon Creek market is not dead but we need good saleable inventory!

ACTIVE LISTINGS:

Two homes out of 1,380+ homes  

PENDING LISTINGS:

Three homes

SOLD LISTINGS:

One home

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. Don’t fall into the trap of overpricing! I have several listings coming on the market in March and my sellers have been busy preparing their homes for success!

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? Let’s chat about your goals/intentions and figure out if 2023 is the right time for you to make a move.