Northwest Georgetown One Minute Tour by ALEX.realestate

Northwest Georgetown (zip code 78633) is about 38 miles northwest of Downtown Austin. In about a minute know more about Northwest 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 Northwest Georgetown real estate market data for July 2023.

SUMMARY

In July 2023, the Northwest Georgetown real estate market witnessed a decline in both the number of sales and total net sales compared to the previous month and the same month in the prior year. Properties were on the market longer. Additionally, the gap between listing and sale prices widened, suggesting increased buyer negotiation power. There was was a notable increase in the top net sale price and the median net sale price per SF maintained its June number.

JULY 2023 INSIGHTS

Seasonal Trends: Despite the summer months typically being active for real estate, the decline from June to July suggests a potential decrease in demand or other market factors at play.
Luxury Insights: The highest net sale and listing prices showed growth from both the previous month and year, indicating that premium properties are still in demand and fetching higher prices.
Positive Highlights: The median net sale price per SF maintained remained unchanged from June. The median discount from list price to net sale price only increased by 2%.
Areas of Concern: Market decline contrary to seasonal trend expectations of increased sales in July compared to June.

JULY 2023 SOLD STATISTICS

1. Market Overview

Total Sales: 68 sales, marking a decline of 17% from June 2023 and a decrease of 8% from July 2022.
Total Net Sales Volume: $37,653,370, showing a decrease of 16% month-over-month (MOM) and a decline of 14% year-over-year (YOY).

2. Days from Listing to Sale

Median Cumulative Days on Market: 49.50 days, a 19% increase from the previous month and a substantial 421% increase compared to July 2022.
Average Cumulative Days on Market: 69.91 days, decreasing by 16% from June 2023 but up by a significant 306% from July 2022.

3. Net Sale Price

Median Net Sale Price: $430,793, reflecting a 13% drop from the previous month and a significant 15% decline YOY.
Median Net Sale $ per Square Foot: $237, showing no change MOM and a decrease of 10% YOY.
Average Net Sale Price: $550,199, which is a slight 1% increase MOM but down by 6% YOY.
Average Net Sale $ per Square Foot: $241, a decrease of 1% MOM and 10% YOY.

4. High-End Market

Highest Net Sale Price: $1,800,000, a significant increase of 41% from the prior month but up by 11% YOY.
Highest Net Sale $ per Square Foot: $417, a slight decrease of 1% MOM but down by 3% YOY.

5. List Prices

Median List Price: $450,000, decreasing by 14% MOM and 15% YOY.
Median List Price per Square Foot: $241, a slight 1% decline MOM and 8% YOY.
Average List Price: $568,117, a slight 1% increase from the prior month but down by 4% YOY.
Average List Price per Square Foot: $249, marking a 1% decrease MOM and 7% decline YOY.

6. Discount from List Price to Net Sale Price

Median % Discount from List Price: 5.2%, showing a slight increase of 2% compared to June 2023 and no change from July 2022.
Average % Discount from List Price: 7.2%, which increased by 8% from the previous month and a significant 234% 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! Diane

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Alexander Tiffany Southwest dba ALEX.realestate
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PS – If you are an Agent or Broker in Northwest 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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