Most frequently hired Realtor® in Canyon Creek - YOUR TRUSTED RESOURCE.

     

Latest news on the Canyon Creek Real Estate market in June 2023….

What you need to know now…..

What it means for you…..

In May 2023 we increased sales by 350% and in June we decreased by 89%. How can that be? We had many Under Contract homes in April so it stands to reason we had a higher percentage of closings in May.

In June we finally started to see homes go under contract after 47 average days on market and many price reductions. With 5 Under Contract homes heading into July we can anticipate a higher number of closings.

Pricing homes correctly is crucial in our current market. Listing at what current homes have recently sold is the key, if you expect to obtain an offer. Buyers are not accepting inflated list prices.

It was a year ago our market started to shift and buyers took to the sidelines with rapidly rising interest rates.

♦ Canyon Creek Real Estate in June 2023 saw a decrease in Home Sales of 89% from June 2022!

♦ Days on market in June was down 71% compared to the year before, with the one property sold that was priced at market value.

 ♦ Home prices increased 13% month-over month (remember only 1 home closed in June), and decreased year-over-year by 8%. 

♦ The list to sell ratio was 98.9% in June.

♦ We need fresh inventory!

     

Canyon Creek HOUSING MARKET HIGHLIGHTS: June 2023

My takeaway for June is; after a full year, we are seeing stabilization in home values. The home sales are giving us solid data on what the market is supporting, which is giving buyers confidence and helping them gain some negotiation power. Sellers are adjusting to pricing their homes more accurately (a least some are), and not hanging on to last year’s values. Sellers can’t dispute the most recent sales data and are digesting today’s values. Buyers already have taken a year to accept the new norm in interest rates. Both sides are taking a more realistic approach to move forward to the return to a healthier, more stable environment.

ACTIVE LISTINGS:

EIGHT homes out of 1,380+ homes  

PENDING LISTINGS:

FIVE homes

SOLD LISTINGS:

ONE home

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!

We serve our clients by arming them with strong market knowledge and seasoned experience. Are you curious about listing your home now? Do you have questions? Let’s chat about your goals/intentions and figure out if 2023 is the right time for you to make a move.