Canyon Lake Real Estate Market Update for 2018

Last year had the least amount of homes sold with 258 since 2008 when there were only 229 homes that sold, though the average sales price was up 4.3% to $491,613 compared to last year at $470,872. It took less time to sell a home in 2018 with an average of 55 days compared to last year at 71 days, and 101 days in 2016. The difference between list price and sales price was on average only 2.5% apart compared to 3.1% in 2017, which played a factor in homes selling quicker. Canyon Lake’s average sales price was 32% higher in 2018 compared to Riverside County at $371,700 and steady with California at $488,400.

Waterfront homes took the biggest hit with the amount of homes sold at 45 compared to 62 in 2017, and 52 in 2016 however, the average sales price was up almost 9% over last year and a whopping 25% since 2016. Golf Course homes were down to 4 sold homes compared to 7 the previous year, but the average sales price was also up 16% from last year and 19% in the last 2 years. Only 17 lots sold last year compared to 33 in 2016 and 20 in 2015, though the average sales price was up 29% from last year, and it took on average 95 less days to sell a vacant piece of land in Canyon Lake compared to 2017. For more information about the #CanyonLake #RealEstate #Market, visit us at Remax-Now.com or Check out The Keith Report at http://www.kerrykeithrealestate.com/canyon-lake/real-estate-market/