February 21 Sun City Texas Real Estate Report by Rugg Realty
Text Version
Sun City Texas Real Estate Report© & Home Sales Summary
February 2021 Results
See online at www.SunCity https://www.ruggrealty.com/sun-city-tx-real-estate-market-reports/
|
February-21 |
February-20 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$222,300 |
$188,000 |
18.2% |
High |
$650,000 |
$909,000 |
-28.5% |
Average |
$363,797 |
$366,726 |
-0.8% |
Median |
$332,000 |
$341,000 |
-2.6% |
Units Sold |
27 |
36 |
-25.0% |
Days on Market |
27 |
82 |
-67.1% |
|
Feb YTD 21 |
Feb YTD 20 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$200,000 |
$188,000 |
6.4% |
High |
$650,000 |
$909,000 |
-28.5% |
Average |
$341,810 |
$344,488 |
-0.8% |
Median |
$329,000 |
$310,000 |
6.1% |
Units Sold |
69 |
71 |
-2.8% |
Days on Market |
32 |
73 |
-56.2% |
Data gathered from ACTRIS MLS March 4, 2021
Month of Feb. 2021 – Lack of inventory continues to plague the re-sale market. It is also driving up prices for what little inventory is available. Multiple offers, over asking price, and short time on market have become commonplace. On an absolute basis prices look flat with the average sale price of $364k compared to $366.7k one year ago. However, on a price per sq, ft. basis, prices have jumped 15.8% to $190.4 per foot, vs $164.4 one year ago. Additionally, Average Days on Market have dropped to just 27 days a 67% reduction from 82 days this time last year. Looking ahead to March 2021, there are 47 re-sale homes currently contingent or under contract/pending. It seems we will meet or exceed last March’s total of 43.
Feb. YTD 2020 – The numbers speak for themselves. The “story” lies in the cost per sq. ft., up 10.5% on Average and 9.2% Median to $184.1 & $181.4, respectively. One Year ago, this was a quote from my monthly report, “One cannot help but wonder what effect the Coronavirus will have on real estate. With historically low interest rates and the securities markets’ vulnerability, perhaps real estate will be the safe haven? Time will tell.”
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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