The Hills One Minute Tour by ALEX.realestate

by swpre-chime-me

The Hills is an enclave village surrounded by Lakeway. The Hills is about 21 miles west of Downtown Austin. In about a minute know more about The Hills 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 The Hills real estate market data for July 2023.

SUMMARY

In July 2023, The Hills, TX real estate market saw a notable increase in total net sales value and the average and median sale prices from the previous month. However, properties took longer to sell than they did the previous year. A significant observation was the fluctuation in high-end properties’ sale prices and per square foot pricing. Moreover, the marked increase in the discount from listing to net sale price suggests heightened negotiation between buyers and sellers.

However, keep in mind with a limited number of sales monthly swings are common. ALEX Labs advocates focusing on median statistical indicators to minimize the impact of both very small and very large transactions.

JULY 2023 INSIGHTS

Seasonal Trends: Typically, summer months witness an uptick in home buying. However, the remarkable increase in total sales value from June to July suggests a heightened demand.
Positive Highlights: Despite the longer duration on the market, July 2023 saw strong growth in the number of sales, total net sales, and both average and median sale prices from June 2023.
Areas of Concern: None noted.

JULY 2023 SOLD STATISTICS

1. Market Overview:

Total Sales: Maintained at 6 sales, no change from June 2023 but an increase of 20% from July 2022.
Total Net Sales Volume: Surged to $7,555,000, reflecting a 46% increase month-over-month (MOM) and a rise of 22% year-over-year (YOY).

2. Days from Listing to Sale:

Median Cumulative Days on Market: Sharp drop to 16 days, a 52% reduction from the previous month and increased by 23% compared to July 2022.
Average Cumulative Days on Market: Decreased to 25 days, a 49% reduction from June 2023 but up by a massive 120% from July 2022.

3. Net Sale Price:

Median Net Sale Price: Rose to $1,093,750, a 39% increase MOM but a 16% decline YOY.
Median Net Sale $ per Square Foot: Stands at $264, down by 7% MOM and 38% YOY.
Average Net Sale Price: Reached $1,255,417, marking a 46% increase MOM but only a slight rise of 2% YOY.
Average Net Sale $ per Square Foot: Positioned at $295, a minor increase of 2% MOM but a decrease of 27% YOY.

4. High-End Market:

Highest Net Sale Price: Stood at $2,400,000, showing a huge growth of 107% from the prior month and 46% YOY.
Highest Net Sale $ per Square Foot: Noted at $423, up by 21% MOM, however, showing a 10% decline YOY.

5. List Prices:

Median List Price: Increased to $1,199,000, a 50% growth MOM but a 11% reduction YOY.
Median List Price per Square Foot: Marked at $279, a decrease of 6% MOM and 32% YOY.
Average List Price: Elevated to $1,337,833, marking an increase of 49% from June 2023 and 11% YOY.
Average List Price per Square Foot: Settled at $314, an increase of 4% MOM but a decline of 21% YOY.

6. Discount from List Price to Net Sale Price:

Median % Discount from List Price: Deepened to 11.3%, reflecting a 51% increase in the discount compared to June 2023.
Average % Discount from List Price: Dropped to 12.3%, which saw an increase of 38% from the previous month.

ALEX REAL ESTATE STAT PACKS

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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! Aaron

I’M ALWAYS HERE

If you have any questions, I am always here. Just call, text or email me.

Aaron Alexander, BA, CLHMS
Senior Partner ALEX.realestate
Board Member ALEX Cares
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PS – If you are an Agent or Broker in The Hills 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! Aaron