San Marcos One Minute Tour by ALEX.realestate

by swpre-chime-me

San Marcos is about 31 miles southwest of Downtown Austin. In about a minute know more about San Marcos 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 San Marcos real estate market data for July 2023.

SUMMARY

In July 2023, the San Marcos real estate market witnessed a slowing down in terms of the number of sales and total net sales value when compared both to the prior month and the same month of the previous year. While average and median net sale prices showed slight declines, the luxury property segment took a more significant hit. Additionally, properties took longer to sell , and the discount from list price to sale price increased noticeably, indicating stronger negotiation power on the buyer’s side.

JULY 2023 INSIGHTS

Seasonal Trends: Typically, summer sees more active home buying, but the decrease in the number of sales from June to July may hint at a drop in demand or seasonal adjustment.
Significant Changes: The rise in cumulative days on market implies that properties are taking longer to sell. This trend might be giving buyers more leverage in negotiations, which can be inferred from the increasing gap between list and sale prices.
Positive Highlights: Despite the overall slowdown, the average and median net sale prices showed only minor reductions compared to the prior month. This suggests a degree of market resilience.
Areas of Concern: The high-end market, represented by the highest net sale prices and per square foot rates, witnessed considerable month-on-month and year-on-year declines. This indicates challenges in the upper segments.

JULY 2023 SOLD STATISTICS

1. Market Overview:

Total Sales: 75 sales, indicating a decrease of 11% from June 2023 and a 5% decrease from July 2022.
Total Net Sales Volume: $31,663,672, showcasing a decrease of 21% month-over-month (MOM) and 7% year-over-year (YOY).

2. Days from Listing to Sale:

Median Cumulative Days on Market: 40 days, a 30% reduction from June 2023.
Average Cumulative Days on Market: 87 days, decreasing by 11% from June 2023.

3. Net Sale Price:

Median Net Sale Price: $378,638, marking a 7% decline MOM and 3% decline YOY.
Median Net Sale $ per Square Foot: $201, decreasing by 1% MOM and 10% YOY.
Average Net Sale Price: $417,558, showing an 11% decrease MOM and a 3% reduction YOY.
Average Net Sale $ per Square Foot: $211, decreasing by 4% MOM and the same 4% YOY.

4. High-End Market:

Highest Net Sale Price: $880,000, showcasing a decline of 35% from June 2023 and 27% YOY.
Highest Net Sale $ per Square Foot: $366, marking a decline of 10% MOM but interestingly, an increase of 13% YOY.

5. List Prices:

Median List Price: $394,990, indicating a 7% decrease MOM and a marginal 1% decline YOY.
Median List Price per Square Foot: $209, stable MOM and decreasing by 8% YOY.
Average List Price: $431,065, showcasing a 12% decrease MOM and virtually no change YOY.
Average List Price per Square Foot: $218, marking a 4% decrease MOM and 1% reduction YOY.

6. Discount from List Price to Net Sale Price:

Median % Discount from List Price: 4.4%, showing a positive shift with an increase of 2% compared to June 2023.
Average % Discount from List Price: 6.9%, increasing notably by 18% MOM.

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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 San Marcos 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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