Sun City Texas Real Estate Report
February 2023
by Rugg Realty
Text Version
Sun City Texas Real Estate Report© & Home Sales Summary
February 2023 Results
See online at www.SunCity https://www.ruggrealty.com/sun-city-tx-real-estate-market-reports/
|
February-23 |
February-22 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$315,000 |
$306,000 |
2.9% |
High |
$759,000 |
$751,000 |
1.1% |
Average |
$468,890 |
$475,664 |
-1.4% |
Median |
$420,000 |
$465,000 |
-9.7% |
Units Sold |
29 |
37 |
-21.6% |
Days on Market |
55 |
15 |
266.7% |
|
Feb YTD 23 |
Feb YTD 22 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$304,000 |
$299,000 |
1.7% |
High |
$770,000 |
$751,000 |
2.5% |
Average |
$472,461 |
$459,086 |
2.9% |
Median |
$425,000 |
$434,000 |
-2.1% |
Units Sold |
45 |
77 |
-41.6% |
Days on Market |
55 |
15 |
266.7% |
Data gathered from ACTRIS MLS March 3, 2023
Month of Feb. 2023 – 29 Units sold is 22% behind prior year’s total of 37. Prices were down too, with Average Sale Price declining 10% to $420k vs $465k one year ago. On a cost per sq ft basis, Average Sale Price managed a 1.1% increase to $245.9/ft and Median Sale Price was flat at $241.4/foot. Days On Market have increased dramatically from 15 to 55, nearly a fourfold increase. There is 3.6 months of inventory on the books. Looking ahead to March 2023, there are 33 re-sale homes currently contingent or under contract/pending. We will fall significantly below last March’s total of 54.
Feb. YTD 2023 - The market is returning to more “normal” behavior for a traditional market. Units sold of 45 is 42% behind the gangbuster volume 77 just one year ago. Average & Median Sale Prices are mixed with Average up 2.9% and Median down 2.1 %. On a cost per sq. ft. basis prices are flat. Right now, price reductions on unsold properties are a way of life until the market decides how much reduction is enough.
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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