Austin MLS August One Minute Tour by ALEX.realestate

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This report includes all single family sales reported to the Austin Board of Realtors (ABOR). In about a minute know more about the ABOR real estate than almost anyone! ALEX provides agents, brokers and their clients with deep intelligence and genius real estate knowledge. ALEX is the only source of (1) Net Sale Price Statistics (Net Sale Price = Sale Price LESS Repairs LESS Seller Contributions to Closing Costs) and (2) ABOR Specific Seasonal Trend Model (Seasonal Trend) applied to monthly sales.

AUGUST 2023 INSIGHTS

Seasonal Trends: Based on Seasonal Trend, we expected a slight decrease in sales compared to July. But it was up 3%. That is a great indicator.

Luxury Insights: The luxury segment showed mixed signals. The highest net sale price decreased by 7% from the same month last year, but the highest net sale $ per square foot remained stable.

Positive Highlights: Increase of 3% in number of sales. Just a 7% decrease in median net sale price from the same month last year, the highest net sale $ per square foot remained unchanged, indicating some resilience in this segment.

Areas of Concern: The market saw a decline in the number of sales (7%) and total net sales (14%) from the same month last year. Additionally, the highest list price decreased by 5%, and the median discount from list price to net sale price increased, indicating potential negotiation challenges.

AUGUST 2023 SOLD STATISTICS

Market Overview

Total Sales: 2,703 sales, a 3% increase from July but a decline of 7% from August 2022.
Total Net Sales Volume: $1,590,999,753, a 1% increase from July and a decrease of 14% year-over-year (YOY).

Days from Listing to Contract

Median Cumulative Days on Market: 34 days, a 13% increase from July and a 113% increase from August 2022.
Average Cumulative Days on Market: 60 days, a 1% increase from July and showing an increase of 131% YOY.

Net Sale Price Per SF

Median Net Sale $ per Square Foot: $226, no change from July and a decrease of 9% YOY.
Average Net Sale $ per Square Foot: $260.57, a 1% increase from July and a decrease of 9% YOY.

4. Net Sale Price

Median Net Sale Price: $455,666, no change from July but reflecting an 8% decrease YOY.
Average Net Sale Price: $583,336, a 1% decline from July and an 8% decrease YOY.

5. High-End Market

Highest Net Sale Price: $6,998,000, a 22% increase from July but a significant decrease of 7% from August 2022.
Highest Net Sale $ per Square Foot: $1,971, a 58% increase from July but no change YOY.

List Prices

Median List Price: $475,000, no change from July but decreasing by 6% YOY.
Median List Price per Square Foot: $233, no change from July and a 9% decrease YOY.
Average List Price: $607,576, down 1% from July and a decrease of 6% YOY.
Average List Price per Square Foot: $271, up 1% from July and down 8% from August 2022.

Discount from List Price to Net Sale Price

Median % Discount from List Price: 4.4%, a 10% increase from July and a 111% increase from August 2022.
Average % Discount from List Price: 6.9%, no change from July and a 57% increase from August 2022.

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ALEX currently publishes 41 Stat Packs in the Greater Austin area. For August, we added 6 new geographies: Bell County, Dripping Springs, Jarrell; and North, South and West Round Rock. If you are interested in area we are not currently publishing or have any question, contact me. I’m always available! Diane

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If you have any questions, I am always here. Just call, text or email me.

Diane Hart Alexander, MBA, MHA, CEO, Broker
Alexander Tiffany Southwest dba ALEX.realestate
Chairman, ALEX Cares
v 713.591.9902
o 713.918.9951
e diane@alex.realestate

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PS – If you are an Agent or Broker in the Greater Austin Area and want to be one of the few armed with the best research, analysis, marketing and White Glove Service for your clients and for you contact me! Diane

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SUMMARY TABLE