Canyon Lake Real Estate Sees ‘Variable Changes’
Canyon Lake saw variable changes in its real estate market between summer 2019 and this fall, according to LakeHomes.com’s 2019 Fall Lake Real Estate Market Report, released last week by the Alabama-based, multi-state real estate brokerage.
To read the entire report, click here. This information applies only to lakefront or lake-adjacent properties.
Canyon Lake’s overall real estate market, which is valued at roughly $95 million, decreased by about three percent over the summer. The total number of lake homes for sale and land listings in and around Canyon Lake decreased by less than two percent, down from 454 properties to 446.
The addition of two homes to the fall 2019 residential inventory resulted in a six-percent increase in home-market value, the report said. This quarter, the market’s 132-home listings have a combined market value of $57 million.
The market’s average list price increased by seven percent to about $443,000, which LakeHomes.com analysts speculate might be due to the fact that homes presently for sale are listed, on average, at higher price points than those homes on the market at the beginning of summer.
Residential listings priced below $250,000 represent 30-percent of Canyon Lake homes for sale this fall. Those priced between $250,000 and $500,000 represent 50-percent.
Properties in the $500,000 to $1 million range account for 15-percent of the lake’s residential inventory. Summer Lake Real Estate Market Report data shows homes listed at these prices represented 19 percent of the market.
Five percent of current Canyon Lake home listings are priced at $1 million and higher.
Last quarter, Canyon Lake reported only 2 percent of homes for sale were listed between $1 million and $2 million, with no homes priced above $2 million.
Land for sale in Canyon Lake decreased by five listings this quarter, which resulted in a 9% decrease in the lake’s land market value. Land listings total $38 million in value.
Canyon Lake Quick Facts:
Overall Market Value = $95,350,012
Home Market Value = $57,154,796
Land Market Value = $38,195,216
Average Home Price = $442,701
Total Properties for Sale = 446
Homes for Sale = 132
Land for Sale = 314
Summer 2019 to Fall 2019 Comparison