East Georgetown One Minute Tour by ALEX.realestate

East Georgetown (zip code 78626) is about 40 miles north of Downtown Austin. In about a minute know more about East 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 East Georgetown real estate market data for July 2023.

SUMMARY

In July 2023, the real estate market experienced several shifts. The number of sales decreased by 15%, and the total net sales dropped by 14% compared to the previous month. The average and median net sale prices saw slight increases of 2% and 4%, respectively. The high-end market, however, experienced a decrease in the highest net sale price by 20%. The time properties spent on the market decreased, with the average cumulative days on the market dropping by 17% and the median by 15%. The gap between listing and sale prices varied, with the average net sale price showing a 2% discount from the list price.

JULY 2023 INSIGHTS

Seasonal Trends: Typically, July is expected to have higher sales than June. However, this year saw a decline in both the number of sales and total net sales, which is contrary to the usual seasonal trend.
Luxury Insights: Despite the overall market decline, the high-end segment showed resilience. The highest net sale price decreased by 20%, but the net sale $ per square foot increased by 17% compared to the previous month.
Positive Highlights: The average and median net sale prices per square foot both increased by 3%, indicating a stable demand in the market. Additionally, the average net sale price saw a 2% increase.
Areas of Concern: The significant decline in the number of sales and total net sales from the previous month is concerning.

JULY 2023 SOLD STATISTICS

1. Market Overview

Total Sales: 62 sales, marking a decline of 15% from June 2023.
Total Net Sales Volume: $27,889,746, showing a decrease of 14% month-over-month (MOM).

2. Days from Listing to Sale

Median Cumulative Days on Market: 41 days, a decrease of 15% from the previous month.
Average Cumulative Days on Market: 67.82 days, a decrease of 17% from June 2023.

3. Net Sale Price

Median Net Sale Price: $405,500, reflecting a increase of 4% from the previous month.
Median Net Sale $ per Square Foot: $209, showing an increase of 3% MOM.
Average Net Sale Price: $446,424, which is a slight 2% increase MOM.
Average Net Sale $ per Square Foot: $219, an increase of 3% MOM.

4. High-End Market

Highest Net Sale Price: $1,100,000, a decrease of 20% from the prior month.
Highest Net Sale $ per Square Foot: $475, a significant increase of 17% MOM.

5. List Prices

Median List Price: $421,250, increasing by 3% MOM.
Median List Price per Square Foot: $214, a slight increase of 3% MOM.
Average List Price: $458,952 holding steady with a slight increase of 2%.
Average List Price per Square Foot: $225 up 3% from last month.

6. Discount from List Price to Net Sale Price

Median % Discount from List Price: 3.7% a 51% decrease from last month.
Average % Discount from List Price: 5.7% down 43% from last month.

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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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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 East 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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