Sept. 2016 Sun City Texas Real Estate Report
& Home Sales Summary
Text Version
Sun City Texas Real Estate Report© & Home Sales Summary
September 2016 Results
See online at www.SunCityTexasRealEstateReport.com
|
September-16 |
September-15 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$182,000 |
$156,450 |
16.3% |
High |
$511,000 |
$429,000 |
19.1% |
Average |
$298,543 |
$263,624 |
13.2% |
Median |
$287,500 |
$237,750 |
20.9% |
Units Sold |
37 |
42 |
-11.9% |
|
Sept YTD 16 |
Sept YTD 15 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$167,500 |
$156,450 |
7.1% |
High |
$855,000 |
$529,000 |
61.6% |
Average |
$284,052 |
$274,490 |
3.5% |
Median |
$265,000 |
$260,000 |
1.9% |
Units Sold |
336 |
347 |
-3.2% |
Data gathered from ACTRIS MLS October 2, 2016
Month of September 2016 – The most striking thing about September’s sales results is that prices jumped up across the board. Every sales category had double digit increases compared to last year, with the average sale price coming in at $298.5k a 13.25% increase. Median sale price was up 21% to $287.5k. One has to search for anything contrary to say, so it may not seem like a big deal to report unit volume was down 12% based on 37 sales vs 42 one year ago. Unit volume has been erratic all year, and one month’s shortfall is clearly not a trend. With just 90 properties on the market, as Active or Active Contingent, there is only a 2.4-month supply of inventory. If this continues prices will inevitably keep rising. Looking ahead to October 2016, there are 56 re-sale homes currently Contingent or Under Contract/Pending compared to last year’s 33 sales in October 2015. We should see unit volume sales in excess of last year.
September YTD 2016- Prices are up across the board in all categories. Average sale price is up 3.5% and Median sale price is up 1.9%. Unit volume is down just 11 sales vs. one year ago, a 3.2% shortfall. Reminder – a custom home sale is skewing the high-end sale results.
The Sun City Texas Real Estate Report is an analysis of sales activity for use by 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. For more information contact Brian@RuggRealty.com or call 512-818-6700.
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