Spicewood One Minute Tour by ALEX.realestate

Spicewood is about 35 miles west of Downtown Austin. In about a minute know more about Spicewood 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 Spicewood real estate market data for July 2023.

SUMMARY

In July 2023, the Spicewood real estate market saw an increase in both the number of sales and total net sales value compared to June 2023, but a decline from July 2022. Properties were selling faster month-over-month. A significant observation was the robust growth in the high-end segment month-over-month but a decline from the previous year. Additionally, sellers seemed more willing to negotiate, as evidenced by the greater discounts from listing to sale prices.

However, keep in mind with a limited number of sales monthly swings are common. ALEX Labs advocates focusing on median statistical indicators to minimize the impact of both very small and very large transactions.

JULY 2023 INSIGHTS

Seasonal Trends: The summer months typically witness a surge in real estate activity in July. This trend was observed.
Significant Changes: A sharp decrease in days on market from June implies properties are selling more quickly.
Positive Highlights: There’s an evident momentum in the high-end segment, with significant growth month-over-month. This might suggest Spicewood is gaining traction as a luxury destination.
Areas of Concern: None specifically identified.

JULY 2023 SOLD STATISTICS

1. Market Overview:

Total Sales: 19 sales, showcasing an increase of 36% from June 2023 but a decline of 10% from July 2022.
Total Net Sales Volume: $17,566,030, marking an increase of 86% month-over-month but declining by 20% year-over-year.

2. Days from Listing to Sale:

Median Cumulative Days on Market: 22 days, reflecting a 66% decline from the previous month and an increase of 47% year-over-year.
Average Cumulative Days on Market: 47.11 days, a decrease of 39% from June 2023, but up by 13% compared to July 2022.

3. Net Sale Price:

Median Net Sale Price: $790,470, indicating a 19% growth from June 2023 but a decline of 6% year-over-year.
Median Net Sale $ per Square Foot: $292, growing by 14% month-over-month but declining by 9% year-over-year.
Average Net Sale Price: $922,988, a 38% rise month-over-month, but decreasing by 11% year-over-year.
Average Net Sale $ per Square Foot: $321, an increase of 24% month-over-month but a decline of 12% year-over-year.

4. High-End Market:

Highest Net Sale Price: $2,100,000, a significant 76% rise from June 2023 but a slight 4% decline year-over-year.
Highest Net Sale $ per Square Foot: $599, marking an 81% increase month-over-month but decreasing by 8% from July 2022.

5. List Prices:

Median List Price: $777,260, increasing by 12% from June 2023 but decreasing by 14% year-over-year.
Median List Price per Square Foot: $302, showing a 13% growth month-over-month and a slight 5% decline year-over-year.
Average List Price: $951,789, reflecting a 33% rise from June 2023 but declining by 12% year-over-year.
Average List Price per Square Foot: $331, marking a 19% increase month-over-month but a 12% decline year-over-year.

6. Discount from List Price to Net Sale Price:

Median % Discount from List Price: 4.6%, which decreased sharply by 55% from June 2023 but increased by 25% year-over-year.
Average % Discount from List Price: 7.0%, reflecting a significant 39% reduction from June 2023 but increasing by 18% from July 2022.

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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! Aaron

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Aaron Alexander, BA, CLHMS
Senior Partner ALEX.realestate
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PS – If you are an Agent or Broker in Spicewood 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! Aaron

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