Sun City Texas Real Estate Report© & Home Sales Summary Jan 2014

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Sun City Texas Real Estate Report© & Home Sales Summary

January, 2014 Results 

See online at www.SunCityTexasRealEstateReport.com 

 Data gathered from ACTRIS MLS February 7, 2014  

Month of January 2014 – Happy New Year! Sales are off to a mixed beginning this year with some interesting developments.  Prices continue to move up in all price ranges.  Average prices have jumped from the $220k range all the way to the $275 range, a 25.3% increase over prior year.  Median prices also took a big jump, up 34% vs. one year ago. The biggest movement is the jump in high-end homes, which nearly doubled over this time last year.  To be fair, it is important to point out the new high water mark in Sun City was a custom home re-sale.  Rugg Realty is proud to have brokered that transaction which went under contract in just three days.  However, one troubling indicator is the poor total number of sales recorded at only 24, a 23% decrease from the year ago total of 31.This adds to a four month trend where the volume of sales does not match the prior year’s totals.   Furthermore, there are only 24 homes currently pending, compared to 41 pending sales last year at this time. This inevitably will mean that matching last year’s February total unit sales volume will be impossible. 

The Inventory of homes to sell remains at historically low levels, with just 30 re-sale homes available. An additional 13 new homes are included in the current MLS numbers bringing the total to 43 homes available.  This is less than a two months supply at the current absorption rate. 

Since it is the beginning of a new year, it may be helpful to remind readers of the methodology used for assembling the Sun City Texas Real Estate Report.  This report is deliberately focused on market activity for re-sale homes in Sun City Texas only.  New home sales are reported independently by Pulte, the owner of Del Webb.