May 2023 Results
See online at www.SunCity https://www.ruggrealty.com/sun-city-tx-real-estate-market-reports/
|
|
May-23 |
May-22 |
|
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
|
Low |
$275,000 |
$345,900 |
-20.5% |
|
High |
$798,600 |
$805,000 |
-0.8% |
|
Average |
$422,853 |
$513,649 |
-17.7% |
|
Median |
$400,000 |
$506,000 |
-20.9% |
|
Units Sold |
47 |
46 |
2.2% |
|
Days on Market |
68 |
7 |
871.4% |
|
|
May YTD 23 |
May YTD 22 |
|
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
|
Low |
$275,000 |
$285,000 |
-3.5% |
|
High |
$798,980 |
$869,990 |
-8.2% |
|
Average |
$446,314 |
$481,472 |
-7.3% |
|
Median |
$406,000 |
$457,500 |
-11.3% |
|
Units Sold |
171 |
224 |
-23.7% |
|
Days on Market |
63 |
10 |
530.0% |
Data gathered from ACTRIS MLS June 2, 2023
Month of May 2023 – Unit sales of 47 edged out last year’s 46 by one unit. Pricing continues to decline. Average home price is down $90k vs last year, a 17.7% reduction. Median home price is down $106K, more than a 20% reduction. Time on market continues to increase, now taking 68 days on average. On a cost per sq ft basis homes averaged $234.2/ft and Median was $232.9/ft. Current inventory is 121 resales available at this writing. Looking ahead to June 2023, there are 40 re-sale homes currently contingent or under contract/pending. We will be very close to last June’s sales of 42 units.
May YTD – Unit volume of 171 is a 24% decline vs 224 one year ago. Not surprisingly, prices are down across the board in all categories. One bright spot on the horizon is that May’s average price per sq ft of $234.2 improved slightly from the YTD Average of $233.9.
The Sun City Texas Real Estate Report is an analysis of sales activity for consumers who have an interest in Sun City Texas home values. Its use is not intended to value a specific property or predict future valuations. If you find this report of value, please Follow Us on Facebook. For more information contact Brian Rugg 512-818-6700.
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