Austin One Minute Tour by ALEX.realestate

by swpre-chime-me

In about a minute know more about Austin 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 Net Sale Price Statistics (Net Sale Price = Sale Price – Repairs – Seller Contributions to Closing Costs.)

Let’s dive into the Austin real estate market data for July 2023.

INSIGHTS & TRENDS

Seasonal Trends: Historically, real estate activity can experience some slowdown during the peak summer months, which could explain the month-over-month decline.
Significant Changes: The considerable increase in the average and median days on the market compared to last year indicates properties are taking longer to sell. This may be reflective of a cooling market or buyers becoming more selective.
Pricing Patterns: The decline in both average net sale price and listing price suggests a market shift, perhaps with buyers showing resistance to higher price points or an increase in inventory allowing buyers to negotiate better.

KEY FINDINGS

Number of Sales: 725 homes were sold in July, a decrease of 13% from June and a modest decrease of 3% from July 2022.
Total Net Sales Volume: Sales totaled $589.6 million, a 17% decrease from last month and 12% lower than the same month last year.
Median Days to Escrow: Properties were on the market for 22 days, marking a 29% increase from June and a significant 144% from the previous year.
Median Net Sale Price: The median net sale price stood at $625,000 (a 3% dip from June and 9% from last year) with a median net sale price of $307 per square foot.
Median List Price: Median was $649,000 a nominal 1% reduction from June 2023. $314 per square foot was a 3% reduction from June and a 9% reduction year-over-year.
Median Net Sale Price Discount from List Price: 4.1% marking a 15% increase from June.

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Download this or any July 2023 Stat Pack

ALEX currently publishes 36 Stat Packs in the Greater Austin area. If you are interested in area we are not currently publishing or have any question, contact me. I’m always available! Diane

I’M ALWAYS HERE

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

PS – If you are an Agent or Broker in Austin 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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