Leander One Minute Tour by ALEX.realestate

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Leander is about 27 miles northwest of Downtown Austin. In about a minute know more about Leander real estate than almost anyone! ALEX provides agents, brokers and their clients with deep intelligence and genius real estate knowledge. ALEX is the only source of Net Sale Price Statistics (Net Sale Price = Sale Price LESS Repairs LESS Seller Contributions to Closing Costs.)

Let’s dive into the Leander real estate market data for July 2023.

SUMMARY

In July 2023, the Leander real estate market saw a decrease in the total number of sales and the total net sales value compared to both the prior month and the same month in the previous year. While properties were selling slightly above their June 2023 prices, they spent significantly more time on the market compared to July 2022, indicating reduced buyer urgency or market saturation. Particularly notable was the sharp decline in the luxury segment and the increasing buyer negotiation power, as evidenced by the growing discount from listing to sale prices.

JULY 2023 INSIGHTS

Seasonal Trends: The market typically sees fluctuations during the summer months, which is a prime home buying season. However, the decrease in both number of sales and total net sales from June to July suggests a cooling in demand.
Significant Changes: The increase in the time properties spend on the market (both average and median) indicate buyers seem to have more negotiating power, as reflected by the increasing discount from the list price to the sale price.
Positive Highlights: The slight increase in average net sale price and per square foot from the previous month is seasonally expected.
Areas of Concern: The sharp decline in high-end property net sale prices and per square foot pricing suggests that the luxury market might be facing challenges because of reduced demand or an oversupply of high-end listings.

JULY 2023 SOLD STATISTICS

1. Market Overview:

Total Sales: 154 sales, a decrease of 7% from June 2023 and 5% from July 2022.
Total Net Sales Volume: $89,279,313, representing a 6% decrease from the previous month (month-over-month or “MOM”) and a significant drop of 13% from the same month last year (year-over-year or “YOY”.)

2. Days from Listing to Escrow:

Median Cumulative Days on Market: 26 days, 4% lower than last month and up by 189% from July 2022.
Average Cumulative Days on Market: 56.12 days, a 3% decrease from June 2023. When compared to July 2022, there is a massive increase of 219%.

3. Net Sale Price:

Median Net Sale Price: $463,500, reflecting a 7% decrease from last month and an 18% decline from the same month last year.
Median Net Sale $ per Square Foot: $218, up by 2% MOM and down by 11% YOU.
Average Net Sale Price: $573,686, which is a 1% increase from the previous month but down by 9% year-over-year.
Average Net Sale $ per Square Foot: $226, marking a 1% increment from June 2023 and an 11% decline from July 2022.

4. High-End Market:

Highest Net Sale Price: $1,799,900, stable from last month but decreased by 28% from July 2022.
Highest Net Sale $ per Square Foot: $413, which is 25% lower MOM and down 31% YOY.

5. List Prices:

Median List Price: $487,870, down by 3% from June 2023 and 15% lower than July 2022.
Median List Price per Square Foot: $227, which is a 2% increase from the previous month and an 8% decline from the same month the prior year.
Average List Price: $595,811, 2% higher than the prior month and 6% lower than July 2022.
Average List Price per Square Foot: $234, an increase of 1% from June 2023 and a decrease of 8% from July 2022.

6. Discount from List Price to Net Sale Price:

Median % Discount from List Price: 4.5%, a sharp increase of 15% from the prior month.
Average % Discount from List Price: 6.4%. This discount increased by 4% from last month.

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ALEX currently publishes 36 Stat Packs in the Greater Austin area. If you are interested in area we are not currently publishing or have any question, contact me. I’m always available! Diane

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Diane Hart Alexander, MBA, MHA, CEO, Broker
Alexander Tiffany Southwest dba ALEX.realestate
Chairman, ALEX Cares
v 713.591.9902
o 713.918.9951
e diane@alex.realestate

PS – If you are an Agent or Broker in Leander and want to be one of the few armed with the best research, analysis, marketing and White Glove Service for your clients and for you contact me! Diane

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