Aug 2020 Sun City Texas Market Report & Home Sales Update
Presented By Rugg Realty
Text Version
Sun City Texas Real Estate Report© & Home Sales Summary
August 2020 Results
See online at www.SunCity https://www.ruggrealty.com/sun-city-tx-real-estate-market-reports/
|
August-20 |
August-19 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$204,000 |
$180,000 |
13.3% |
High |
$545,000 |
$429,000 |
27.0% |
Average |
$323,725 |
$284,001 |
14.0% |
Median |
$290,000 |
$273,000 |
6.2% |
Units Sold |
38 |
57 |
-33.3% |
Days on Market |
58 |
71 |
-18.3% |
|
Aug YTD 20 |
Aug YTD 19 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$188,000 |
$180,000 |
4.4% |
High |
$909,000 |
$920,000 |
-1.2% |
Average |
$320,967 |
$297,803 |
7.8% |
Median |
$293,500 |
$280,000 |
4.8% |
Units Sold |
296 |
350 |
-15.4% |
Days on Market |
60 |
81 |
-25.9% |
Data gathered from ACTRIS MLS September 4, 2020
Month of August 2020. Unit volume of 38 was down 33% from last year’s total of 57. At first glance they be nonsensical with such high demand. The explanation is that number of available homes in inventory is so low right now that is has the effect of choking off high sales volume. This is verified by the Average Sale Price increasing by 14% vs prior year to $323.7K. Median Sale price was also up 6.2% to $290k vs one year ago. Even entry level homes saw a big jump to $204k, a 13.3% increase. Even on a cost per sq. ft basis the Average Sale Price was $170.1 per foot, an 6% increase over one year ago. As one might expect, the length of time on market shrank more than 18% to just 58 DOM. Looking ahead to September 2020, there are 56 re-sale homes currently contingent or under contract/pending vs last September’s total of 37.
August YTD 2020. Average Sale Price & Median Sale Price are up 7.8% and 4.8% respectively. Day On Market (DOM) is down 26% to just 60 days on average. Many homes are selling the same day they hit the market and multiple offers are not uncommon. This phenomenon is extraordinarily rare in Sun City Texas.
Rugg Realty offers Zoom Tours in the Sun City Texas Market. This will allow any buyer the opportunity to see a property in live, real time, streaming video from the comfort of their own home. Call for details how to arrange a tour.
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@RuggRealty.com or 512-818-6700.
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