Bastrop One Minute Tour by ALEX.realestate

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Bastrop is about 33 miles east of Downtown Austin.In about a minute know more about Bastrop 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 Bastrop real estate market data for July 2023.

Bastrop July 2023 Insights

Summary: while the Bastrop real estate market remains active, the significant rise in the number of days properties remain on the market and the drop in prices indicate that buyers might have the upper hand in negotiations.
Seasonal Trends: Historically, summer months tend to be busier in real estate, and the increase in sales from June to July aligns with this trend.
Significant Changes: The surge in cumulative days on the market, both average and median, suggests that properties are taking longer to sell compared to the previous year. This could be due to various factors, possibly a saturated market or more selective buyers.
Positive Trends: Despite the longer days on market, there’s notable growth in both the number of sales and total net sales, indicating a still-active market.
Negative Trends: There’s a clear downward trend in both sale and list prices, which suggests that buyers might be looking for more affordable properties or that sellers are adjusting prices to meet market demand.

Bastrop July 2023 Sold Statistics

1. Market Overview:

Number of Sales: There were 70 sales in July 2023, up 23% from June 2023 and a significant 32% jump compared to July 2022.
Total Net Sales: The overall net sales reached $29,852,605, a growth of 24% from June 2023 and an 18% increase year-over-year.

2. Time on Market:

Average Days From Listing to Escrow: Properties took an average of 109.67 days to sell, a 14% rise from the prior month.
Median Days From Listing to Escrow: The median duration was 42.50 days, which is 21% faster than the previous month.

3. Sales and Listing Prices:

Average Net Sale Price: The average net sale price in July was $421,282, stable from the previous month, but it’s down by 11% from July 2022.
Median Net Sale Price: The median sale price was $389,495, reflecting a 5% growth month-over-month and a 10% decrease from last year.
Highest Net Sale Price: The highest-priced property sold for $800,000, a 30% decrease from the prior month and down by 32% year-over-year.

4. Price per Square Foot:

Average Net Sale Price per SF: The average price per square foot was $206, showing no monthly change but declining 16% from July 2022.
Median Net Sale Price per SF: This metric stood at $200/SF, a 1% growth month-over-month but a 15% decrease year-over-year.
Highest Net Sale Price per SF: The most expensive sale on a per square foot basis was $361/SF, down 26% from June 2023 and a significant 41% drop from the prior year.

5. List Price:

Average List Price: The average list price remained unchanged month-over-month but decreased 11% year-over-year.
Median List Price: Up 5% compared to June 2023 and a 9% drop compared to July 2022.
The highest listed property that sold was priced at $948,900, marking a 17% drop from the previous month and down 28% from the previous year.

6. Net Sale Price Discounts from List Price:

Average Discount: On average, properties sold for 9.6% less than the listed price, which is a 33% larger discount compared to June 2023 and a 9% larger discount compared to July 2022.
Median Discount: The median discount from the list price was 6.3%, a 44% greater discount month-over-month and showing no change from last year.

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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

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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 Bastrop 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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