An In-Depth Analysis of Sold Price to List Price Ratio

Published 07/17/2023 | Posted by Dan Price

The real estate market, a multifaceted and dynamic entity, is influenced by a myriad of factors. One such crucial metric that offers valuable insights into market trends and conditions is the Sold Price to List Price Ratio (SPLPR). This article delves deep into the intricacies of SPLPR, referencing specific data and statistics from a comprehensive report on the real estate market in Austin, Texas.

The Sold Price to List Price Ratio is a percentage that showcases the final selling price of a property in relation to its listing price. A ratio of 100% implies that a property was sold for exactly its list price. A ratio exceeding 100% indicates a seller's market, where properties are sold for more than their list price. On the other hand, a ratio less than 100% points towards a buyer's market, where properties are sold for less than their list price.

Over the past two decades, the SPLPR has witnessed significant fluctuations. In 2000, the ratio was around 99.2%, indicating a balanced market. However, by 2021, the ratio had escalated to 104.8%, reflecting a strong seller's market. This trend continued into 2022, with the ratio reaching 100.9%. Interestingly, by July 2023, the ratio had decreased to 97.8%, suggesting a shift towards a buyer's market.

In July 2021, the SPLPR was 106.56%, with a significant 70.6% of properties selling over the list price. However, by July 2022, the ratio had decreased to 100.06%, with only 37% of properties selling over the list price. This downward trend continued into 2023, with the ratio dropping to 97.80% in July, indicating that a higher percentage of properties were selling under their list price.

The SPLPR also exhibits significant variations across different cities and zip codes. For instance, in July 2023, Buda had a SPLPR of 98.6%, while Driftwood had a lower ratio of 94.2%. Similarly, Dripping Springs and Kyle had ratios of 97.2% and 97.3% respectively. These variations underscore the importance of local market conditions in influencing the SPLPR.

The Sold Price to List Price Ratio is an invaluable tool for understanding real estate market dynamics. It offers insights into market conditions, aiding buyers and sellers in making informed decisions. However, it's essential to remember that the SPLPR is just one of many factors influencing the real estate market. Other factors, such as economic conditions, interest rates, and housing supply and demand, also play a pivotal role.

As the data illustrates, the SPLPR can fluctuate significantly over time and across different geographic areas. Therefore, whether you're a buyer, seller, or a real estate professional, it's crucial to stay updated with the latest market trends and data to navigate the ever-changing real estate landscape effectively.

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Central Texas MLS | Four Rivers Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than Team Price Real Estate may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2022 All rights reserved.

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An In-Depth Analysis of Sold Price to List Price Ratio

Published 07/17/2023 | Posted by Dan Price

Austin's Real Estate Market: A Detailed Study of Sold Price to List Price Ratio

An In-Depth Analysis of Sold Price to List Price Ratio

Published 07/17/2023 | Posted by Dan Price

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An In-Depth Analysis of Sold Price to List Price Ratio

Published 07/17/2023 | Posted by Dan Price

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