Sun City Texas Real Estate Report March 2023
Text Version
Sun City Texas Real Estate Report© & Home Sales Summary
March 2023 Results
See online at www.SunCity https://www.ruggrealty.com/sun-city-tx-real-estate-market-reports/
|
March-23 |
March-22 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$305,000 |
$285,000 |
7.0% |
High |
$731,500 |
$790,000 |
-7.4% |
Average |
$432,879 |
$459,654 |
-5.8% |
Median |
$399,000 |
$438,000 |
-8.9% |
Units Sold |
37 |
54 |
-31.5% |
Days on Market |
73 |
8 |
812.5% |
|
March YTD 23 |
March YTD 22 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$304,000 |
$285,000 |
6.7% |
High |
$770,000 |
$790,000 |
-2.5% |
Average |
$453,801 |
$459,320 |
-1.2% |
Median |
$415,500 |
$435,000 |
-4.5% |
Units Sold |
84 |
131 |
-35.9% |
Days on Market |
63 |
12 |
425.0% |
Data gathered from ACTRIS MLS April 4, 2023
Month of March 2023 – Unit sales of 37 is a 32% decline vs prior year. However, 37 sales is historically a pretty average month and represents 44% of the entire Q1 totals. The problem lies in pricing and is down across the board. High end homes are the hardest with the price per foot down 17.3% to $277.2. Average Sale & Median Sale price is down 11% & 10.6% to $229/ft. & $228/ft. respectively. On an absolute basis the Median Sale Price has fallen 9% to $399k. Days on Market continues to increase, now 73 days on Average. Looking ahead to April 2023, there are 45 re-sale homes currently contingent or under contract/pending. It seems we will fall well short of last April’s total of 53.
March YTD 2023 Q1 is in the books and the numbers speak for themselves. Price erosion continues to put pressure the market while demand seems to hold its own despite plenty of troubling financial news & high interest rates.
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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