West Georgetown One Minute Tour by ALEX.realestate

by swpre-chime-me

West Georgetown (zip code 78628) is about 34 miles northwest of Downtown Austin. In about a minute know more about West Georgetown 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 West Georgetown real estate market data for July 2023.

SUMMARY

In July 2023, the real estate market experienced a decline in both the number of sales and total net sales compared to the previous month. While the average and median net sale prices saw minimal changes, the high-end market witnessed significant growth. The time properties spent on the market remained relatively stable, and the gap between listing and sale prices showed variations.

JULY 2023 INSIGHTS

Seasonal Trends: The decline in the number of sales and total net sales is counter to seasonal trend that projects higher sales in July than June.
Luxury Insights: The high-end market showed a significant growth, with the highest net sale price and net sale $ per square foot increasing by 38% and 59% respectively from the previous month.
Positive Highlights: The median and average net sale prices per SF saw a slight increase of 1% from the previous month, indicating stability in this segment.
Areas of Concern: Two issues. The first is related to volume. The significant decline in the number of sales and total net sales from the previous month raises concerns about the market. The second is the 47% increase in median discount from list price now at 8.2%

JULY 2023 SOLD STATISTICS

1. Market Overview

Total Sales: 95 sales, marking a decline of 34% from June 2023.
Total Net Sales Volume: $56,016,710, showing a decrease of 34% month-over-month (MOM).

2. Days from Listing to Sale

Median Cumulative Days on Market: 42 days, a 14% decrease from the previous month.
Average Cumulative Days on Market: 87 days, showing no change from June 2023.

3. Net Sale Price

Median Net Sale Price: $486,500, reflecting a 4% drop from the previous month.
Median Net Sale $ per Square Foot: $217, showing no change MOM.
Average Net Sale Price: $583,138, which is a slight 1% decrease MOM.
Average Net Sale $ per Square Foot: $225, an increase of 1% MOM.

4. High-End Market

Highest Net Sale Price: $3,145,000, a significant increase of 38% from the prior month.
Highest Net Sale $ per Square Foot: $712, a significant increase of 59% MOM.

5. List Prices

Median List Price: $504,950, decreasing by 4% MOM.
Median List Price per Square Foot: $224, a slight 1% increase MOM.
Average List Price: $611,209 holding steady with no change from last month.
Average List Price per Square Foot: $236 up 1% from last month.

6. Discount from List Price to Net Sale Price

Median % Discount from List Price: 8.2% a significant 47% increase from last month.
Average % Discount from List Price: 9.7% up 15% from last month.

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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 West Georgetown 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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