Deep Dive into Kyle TX Real Estate Market - June 2023

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KYLE MARKET SUMMARY – JUNE 2023

SUMMARY TABLE - June 2023 KYLE TX Real Estate Stat Pack - by ALEX Labs, ALEX Studios and ALEX.realestate — SUMMARY TABLE – June 2023 KYLE TX Real Estate Stat Pack – by ALEX Labs, ALEX Studios and ALEX.realestate

* Net Sale Price = Sale Price
LESS Seller Paid Repairs to Meet Buyer Demands
LESS Seller Paid Buyer Closing Costs like interest rate buy downs

Sales Volume Decrease:

The number of sales has declined both month-over-month and year-over-year, with a decrease of 21% from May 2023. This indicates that the housing market is cooling down with fewer transactions happening compared to previous periods.
Reduced Total Net Sales Volume:

Total net sales also fell, with a decrease of 17% compared to the previous month and 30% compared to the same month last year.

This suggests that less money is changing hands in the housing market, possibly due to fewer high priced homes being sold, higher interest rates or buyer economic concerns.
Increased Market Time:

Homes are staying on the market longer. The average cumulative days on the market increased by 14% from the previous month.

This could be due to higher interest rates, lower buyer demand or prices being set too high.
Slight Rise in Average Net Sale Price*and Median Net Sale Prices*:

The average Net Sale* Price of homes and the median net sale price increased by 5% compared to the previous month, although they were down 12% and 10% year-over-year, respectively.

The median Net Sale* Price per square foot also rose slightly.
Decrease in High Sales:

The highest Net Sale Price* and the highest Net Sale Price* per Square Foot decreased by 8% and 14% month-over-month respectively.
Increase in Discounts from List Price:

On average, homes Net Sale Price* was 7.1% less than their list price, a decrease of 19% from the previous month. The median decrease was even steeper.

This could indicate that sellers are having to reduce their prices to attract buyers, further suggesting a cooling market.

I’M ALWAYS HERE

Feel free to 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 – Why ALEX? If you are an Agent or Broker and want to be a Kyle real estate genius, contact me! Best. Diane

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