Travis County One Minute Tour by ALEX.realestate

Travis County is the home of Austin. In about a minute know more about Travis County 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 – Repairs – Seller Contributions to Closing Costs.)

Let’s dive into the Travis County real estate market data for July 2023.

INSIGHTS & TRENDS

Seasonal Trends: July tends to be a transition month in real estate, often bridging the hot spring market and the slightly slower-paced summer. A decline from June to July isn’t atypical, though the magnitude may vary.
Significant Changes:The striking change has been the time properties spent on the market, witnessing a 200%+ increase compared to last year. This suggests that properties aren’t selling as quickly.
Net Sale Price Discount from List Price: The notable increase in average discounts from listed prices also indicates a potential shift towards a buyer’s market or sellers becoming more negotiable.
General Outlook: With declining prices both in terms of listing and sales, along with increased days on the market, sellers might need to be more strategic and flexible. For buyers, this could be a good time to negotiate and get a favorable deal.

KEY FINDINGS

Sales: Sales volume decreased by 14% to 1,016 and total net sales dollar volume was down by 15% to $760,926,462. The total net sales volume decreased by 10% since last July.
Time from Listing to Escrow: On average, properties stayed on the market for 50.55 days, a drop of 3% from the previous month. The 26.5 median days on market increased by 26% from June.
Net Sale Price: The average net sale price decreased slightly by 1% to $743,299, and per square foot, it went down 3% to $319. The $561,259 median net sale price decreased by 1% while the median net price per square foot remained stable at $277. Average net sale prices decreased by 10% and median sale prices fell 12% YOY. The price per square foot declined 13% for both average and median YOY.
High Net Sale: At $5,725,000 it was a 22% increase from June and the $1,214 per SF was an 8% increase. The highest net sale price declined by 24% and 33% on a per-square-foot basis YOY. The highest list price of a home sold in July was $5,950,000 up 19%, and the $1,369 per square foot was up 4%.
List Price: The average list price saw a minor decline of 1% to $773,747, and a 3% decline to to $331 per SF. The median listed price declined by 1% to $580,000, with no change in the per-square-foot price at $285. YOY the average and median listing prices fell by 7% and 11% respectively.
Net Sale Price Discount from List Price: Properties sold on average at 7.2% below the listed price, a significant increase of 7% from June. The median discount was 4.1%, up by 15% from June.

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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 Travis County 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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