Sun City Texas Real Estate Report November 2022
Presented by Rugg Realty
TEXT VERSION
Sun City Texas Real Estate Report© & Home Sales Summary
November 2022 Results
See online at www.SunCity https://www.ruggrealty.com/sun-city-tx-real-estate-market-reports/
|
November-22 |
November-21 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$305,000 |
$272,500 |
11.9% |
High |
$729,500 |
$849,000 |
-14.1% |
Average |
$475,581 |
$456,224 |
4.2% |
Median |
$467,000 |
$428,250 |
9.0% |
Units Sold |
26 |
53 |
-50.9% |
Days on Market |
34 |
14 |
142.9% |
|
Nov. YTD 22 |
Nov. YTD 21 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$250,000 |
$200,000 |
25.0% |
High |
$869,990 |
$925,000 |
-5.9% |
Average |
$479,114 |
$409,254 |
17.1% |
Median |
$451,000 |
$382,825 |
17.8% |
Units Sold |
441 |
530 |
-16.8% |
Days on Market |
15 |
12 |
25.0% |
Data gathered from ACTRIS MLS Dec. 2, 2022
Month of November 2022. Unit sales of 26 is fewer than half the sales this time one year ago and the lowest volume in the past 24 months. Average Sale Price of $475.6k is 9% higher than prior year but failed to reach this year’s YTD average. On a cost per sq ft basis Average Sale price is down to $241 vs the high-water mark set in June this year of $273 per foot. Days on Market have more than doubled to 34 and inventory has reached 120 re-sale homes. Looking ahead to December 2022, there are 18 re-sale homes currently contingent or under contract/pending. We will fall well below last December’s total of 51.
November YTD Unit volume 441 is 17% behind last year’s 530 sales. Average Sale Price of $479.1k is 17.8% ahead of this time one year ago. On a $/Sq. ft. basis, Average Sale Price is $258/foot 19.2% ahead of last year’s $216.3. The real question is how much of the gain the market has made in 2022 will it give back. See attached price per square foot historical plot.
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 Rugg, 512-818-6700.
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