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Latest news on the Canyon Creek Real Estate Market in June 2024….

What you need to know now…..

What it means for you….

Despite increased inventory, home sale prices in Canyon Creek have remained stable year-over-year (YoY) in June 2024. The list-to-sell ratio stands at an impressive 102%. There is some positive news: interest rates have fallen slightly in recent weeks, although they remain more than twice as high as pre-pandemic levels.

However, many listings are now viewed as stale, with properties sitting on the market for 40 days or longer without going under contract. Currently, there are eight active listings with an average market time of 41 days. Notably, one listing recently went off the market after 89 days. In contrast, the two properties that sold this month were only on the market for four days, indicating that well-priced, desirable homes are still receiving quick offers.

As we enter the Dog Days of Summer in Austin, some buyers might be distracted by travel or leisure activities, while anxious sellers are eager to make a move. Despite the high housing costs, my advice to buyers is to stay in the hunt; you might find a gem while others are not looking.

There are signs that price growth could lose momentum. The share of sellers dropping their list price is at its highest level since November 2022, and asking-price growth has already slowed. Homes that need work or aren’t in the most desirable locations can be a good opportunity for today’s buyers, as they’re selling under asking price in some cases—if they sell at all.

Inventory is up, the number of sales increased by 100% YoY. Presently, the market comprises eight active homes, averaging 41days on the market, which appears to be the new norm as we head into summer. There is currently one home pending. The median sales price is the same YoY.

My report emphasizes the importance of accurately pricing homes, maintaining optimal property conditions, and executing effective marketing strategies to attract offers swiftly. Properties adhering to these principles stand a greater chance of securing offers and accelerating the contract process.

ACTIVE LISTINGS

EIGHT homes out of 1,388+ homes  

PENDING LISTINGS

ONE homes

SOLD LISTINGS

TWO homes

It’s crucial for sellers to understand that the effort put into preparing a home significantly influences its appeal to potential buyers. Making a strong first impression is essential for capturing buyer interest and eliciting compelling offers.

An interesting look back from June 2017 to June 2024! Canyon Creek has come a long way in homes appraising! No question homeownership is a great investment!

Whether you’re considering listing your home or have lingering questions, I invite you to discuss your objectives and goals. Together, we can evaluate whether now is the right time for you to embark on the next phase of your real estate journey. Let’s connect and navigate this changing market landscape together.