Bee Cave One Minute Tour by ALEX.realestate

Bee Cave is about 17 miles west of Downtown Austin. In about a minute know more about?Bee Cave?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 - Repairs - Seller Contributions to Closing Costs.)

Let’s dive into the?Bee Cave?real estate market data for July 2023.

JULY 2023?INSIGHTS

Small Market: With only 4 sales in July and always very few sales in Bee Cave, we approach the statistics with caution. But, they are the numbers.

Seasonal Trends: Historically, summer months like July are expected to be hotter for real estate in terms of sales volume. The huge jump from June to July this year confirms that trend. However, compared to last year, properties are staying longer on the market, suggesting a changing dynamic.

Bee Cave in Recovery?: Positively, there’s a boom in sales, indicating a potentially recovering market.

Negotiable Market: On the flip side, there’s a clear trend of reduced list and net sales prices, paired with increased negotiation power for buyers. Sellers might need to be more competitive in their pricing and be open to negotiations.

JULY 2023 SOLD STATISTICS?

Market Overview:

• Sales:?4?homes were sold in July. The market has shown robust growth with?sales doubling?(100% increase)?year-over-year (YOY).
• Total Net Sales: A substantial rise to?$2,997,000, marking a 34% increase from the previous month. Total net sales?up?by 62% YOY.

Days from Listing to Escrow:

• Cumulative Days: Homes were on the market for an average of?37.75 days, which is a 34% decrease. This suggests faster market movement.
• Median Days: Reduced even more significantly to?34 days, a 40% drop.

Net Sale Price:

• Average: A notable decline to?$744,700?(-66%).
• Per Square Foot: Dropped to?$298, down by 32%.
• Median Net Sale Price: Homes sold at a median price of?$687,150, showing a 69% decrease.
• Per Square Foot: Went down to?$288, a 34% dip.

Highest Net Sale Price:

• The highest net sale price of a home came in at?$1,024,500, a decrease of 54%?from the prior month.
• Per Square Foot: The top price was?$365 per sq. ft., which was 16% less?than June.

List Prices:

• Average: Homes were listed at an average of?$753,750, marking a 67% drop.
• Median: The median list price was down by 70% to?$697,500.
• Highest: The top-listed property was priced at?$1,000,000, experiencing a 57% decrease.

Net Sale Price Discount from List Price:

• Average: Buyers enjoyed an average discount of?7.3%?off the list price, which is 65% greater than the previous month.
• Median: Median discounts were at?7%, showing a 66% increment.

ALEX REAL ESTATE?STAT PACKS

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Download this or any July 2023 Stat Pack

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?

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PS?– If you are an Agent or Broker in?Bee Cave?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