June 22 Sun City Texas Real Estate Report
by Rugg Realty
TEXT VERSION
Sun City Texas Real Estate Report© & Home Sales Summary
June 2022 Results
See online at www.SunCity https://www.ruggrealty.com/sun-city-tx-real-estate-market-reports/
|
June-22 |
June-21 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$331,000 |
$262,000 |
26.3% |
High |
$866,000 |
$925,000 |
-6.4% |
Average |
$510,467 |
$430,716 |
18.5% |
Median |
$476,000 |
$407,500 |
16.8% |
Units Sold |
41 |
74 |
-44.6% |
Days on Market |
6 |
7 |
-14.3% |
|
June YTD 22 |
June YTD 21 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$285,000 |
$200,000 |
42.5% |
High |
$869,990 |
$925,000 |
-5.9% |
Average |
$485,958 |
$378,895 |
28.3% |
Median |
$465,000 |
$357,000 |
30.3% |
Units Sold |
265 |
290 |
-8.6% |
Days on Market |
9 |
14 |
-35.7% |
Data gathered from ACTRIS MLS July 3, 2022
Month of June 2022 – Unit sales volume of 41 was a 45% decline vs last year’s 74 homes sold. Normally we would think of 41 homes sold as a good month. Average Sale Price and Median Sale Price are $510.5K and $476.0k an 18.5% and 16.8% increase, respectively. The Average Price per Sq. Ft. was $273/ft a 22% increase over one year ago. Reminder, we are only reporting resale homes data. Our MLS has been contaminated with new homes being included and this report has always filtered that data out to keep a true picture of “apples to apples” sales information. Looking ahead to July 2022, there are 51 re-sale homes currently contingent or under contract/pending. We may reach last July’s total of 43.
June YTD – Q2 is in the books and the year is half over. Volume of sales of 265 fell short of last years’ total of 290, an 8.6% decline. Average Sales Price is $485.9k, more than $100k increase over prior year’s $378.9k a 28.3% increase. For as rosy as the data suggests, we know this market is changing rapidly and the long-anticipated slowdown is happening. Inventory has shot up to 51 properties, Days on Market for that inventory is already 23 days & counting, and we are seeing price reductions instead of multiple offers. All of this is adds up to a very good market, just different than we have seen for the past couple of years.
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.
Comments(2)