It looks like 1720 Canyon Run has finally sold. Really this time.
We've followed this home for quite a while so it is interesting to see the price where it settled: $395,000.
But what I decided to do was to graph the last sales price of all 36 homes on the block given that most are very similiar. As you can see after a flurry of activity after construction was complete (1999 and 2000), very few sales pushed prices up in the neighborhod.
This last sale confirms that the trend is heading back down. I doubt we're done yet.
(Note: To clarify the presentation of the data, 12 sales in 2000 means that of the 36 homes on the Canyon Run block, currently 12 had their most recent sale in the year 2000. More than 12 homes could have sold in 2000, but these would have been flipped and sold at a later date. Example: If a home sells for $270,000 in 1999, sells again in 2003 for $423,000, then in this chart its 2003 data is used.)
So the most recent sale is 35% off peak. Wow. So everyone who bought at peak or since is probably underwater, and those who bought before may be also if they HELOC'd their equity away.
ReplyDeleteCongratualtions to the agent and seller are in order.
ReplyDelete