Is Canyon Lake, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Canyon Lake is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Canyon Lake was a Seller's Market.

Key Takeaway

Canyon Lake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Canyon Lake, TX

How much do homes in Canyon Lake, TX cost?

Median Sold Price

$458,410

$227/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$56,534(-11.0%)

Key Takeaway

Homes in Canyon Lake have sold for 11% less than they did a year ago.

Summary: The median home sold price in Canyon Lake was $458,410 in March 2024, down 11% from last year, and the median price per square foot was $227.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $172.5K$235K
+36.2%
2 $280K$306K
+9.3%
3 $457.6K$421.5K
-7.9%
4 $670.9K$575K
-14.3%
5+ $775K$529.4K
-31.7%

Summary: Canyon Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.2%, 2 bedroom homes increased by 9.3%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 31.7%.

Median Sold Price Compared To Nearby Cities

San Antonio North
+1.2%
Bulverde
0.4%
Spring Branch
0.2%
Canyon Lake
-11.0%

Housing Supply in Canyon Lake, TX

How many homes are available in Canyon Lake, TX?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
858985+14.8%

Summary: The Canyon Lake real estate market had 985 homes for sale in March 2024, a 14.8% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1516
+6.7%
2 5262
+19.2%
3 415499
+20.2%
4 291310
+6.5%
5+ 8598
+15.3%

Summary: The Canyon Lake housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 19.2%, 3 bedroom homes increased by 20.2%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 15.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
105112+6.7%

Asking Price vs. Sold Price

64 Homes Were Sold
Under Asking

33 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Canyon Lake, you may be able to get a good deal. 57.7% of homes here sold below asking price last month.

Summary: A total of 112 homes were sold or pending in Canyon Lake in March 2024, up by 6.7% month-over-month. Of the 111 sold homes, 58% were sold under asking, 30% were sold at asking, and 13% were sold over asking.

Days on Market for Canyon Lake, TX

How long does it take to sell a home in Canyon Lake, TX?

Average Sale Time

Mar 2023Mar 2024CHANGE
67 Days104 Days+54.2%

Summary: Homes in Canyon Lake had an average of 104 days on market in Mar 2024, up by 54.2% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

31 Homes Were Sold
In 30 - 90 Days

56 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Canyon Lake are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During March 2024, 112 homes were sold in Canyon Lake; 22% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Canyon Lake, TX

Nearby Markets to Canyon Lake, TX

What housing markets are near Canyon Lake, TX?