Luling One Minute Tour by ALEX.realestate

by swpre-chime-me

Luling is about 44 miles southeast of Downtown Austin. In about a minute know more about Luling 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 LESS Repairs LESS Seller Contributions to Closing Costs.)

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

SUMMARY

In July 2023, the Luling real estate arena demonstrated varied dynamics. There was a revival in the number of sales and the total net sales value month-over-month. Yet, juxtaposed to July 2022, the annual outlook revealed a downtrend. A slump in top-tier property transactions, reveals a transitioning market. The increasing disparity between listing and final sale prices suggests heightened negotiation leverage for buyers.

JULY 2023 INSIGHTS

Seasonal Trends: Although summer traditionally sees bustling real estate activity, the mild boost in sales from June to July is overshadowed by a pronounced annual decrease, indicating unpredicted market swings this year.

Significant Changes: Homes were observed staying longer on the market, hinting at a possible buyer’s market or potentially overvalued listings. The widening chasm between listing and sale prices further supports this indicator.

Positive Highlights: Amidst the challenges, the market displayed resilience with slight monthly upticks in both average and median sale values, hinting at some market equilibrium.

Areas of Concern: The upper price segment appears under stress, given the marked drops in the top-tier sale prices and rates per square foot. This underscores turbulence in this market segment.

JULY 2023 SOLD STATISTICS

Market Overview
- Total Sales: 4 sales, showcasing a leap of 100% from June 2023 but a plunge of 43% from July 2022.
- Total Net Sales Volume: $1,138,500, marking a surge of 126% month-over-month (MOM) but a sharp contraction of 65% year-over-year (YOY).
Days from Listing to Sale
- Median Cumulative Days on Market: 80 days.
- Average Cumulative Days on Market: 99 days.
Net Sale Price
- Median Net Sale Price: $298,750, indicating a 21% ascent MOM but a drop of 18% YOY.
- Median Net Sale $ per Square Foot: $214, presenting a growth of 16% MOM but a minor 5% dip from July 2022.
- Average Net Sale Price: $278,375, a 12% increment MOM, yet a decline of 39% YOY.
- Average Net Sale $ per Square Foot: $169, registering a 8% dip MOM and a decrease of 38% YOY.
High-End Market
- Highest Net Sale Price: $439,000, denoting a reduction of 50% YOY.
- Highest Net Sale $ per Square Foot: $237, with a dip of 51% YOY.
List Prices
- Median List Price: $290,000, showcasing a 13% upswing MOM and a dip of 21% YOY.
- Median List Price per Square Foot: $209, recording a 10% ascent MOM and a modest 3% decline YOY.
- Average List Price: $279,750, depicting a 9% uplift from the prior month and a 40% downtick YOY.
- Average List Price per Square Foot: $168, signaling a 12% decline MOM and a drop of 39% compared to July 2022.
Discount from List Price to Net Sale Price
- Median % Discount from List Price: 18.5%.
- Average % Discount from List Price: 19.5%.

ALEX REAL ESTATE STAT PACKS

About Stat Packs
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

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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 Luling 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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