How's the Market in Steiner Ranch - August 2017

In this edition of “How's the Market in Steiner Ranch,” I review the July 2017 statistics and compare the first part of 2017 to the same time in 2016.  Below the video, you can find the same information in chart and text formats.

To view summary and detailed sales information for all Steiner Ranch neighborhoods, check out the Neighborhood Home Sale Data section of my website. If you are looking to buy or sell a home in Steiner Ranch, contact me via email or at 512-650-7300. Previous editions of How’s the Market in Steiner Ranch are also available.  If you prefer to read instead of watch, here are the chart and transcript.
Greetings!  I'm Craig Smyser with RE/MAX Capital City.  Welcome to the August 2017 edition of "How's the Market in Steiner Ranch."

In July, 45 resale homes closed in Steiner Ranch which was up 21.6% from July 2016.  The median price of a resale home increased 8.4% to $480,000.  The average price of a home increased 3.5% to $529,286.  The average price per square foot decreased by 0.4% to $157.02.  Now let’s look at a longer time period to get a more accurate picture of the market.  The number of resale homes that sold so far in 2017 is 219, down 1.8% from the same time period the year prior.  The median price of a resale home has increased 6.7% to $475,000.  The average price increased by 10.4% to $549,835.  The average price per square foot increased 7.6% to $166.67.  From time to time I present the sales figures that exclude homes that sold for $1 million or higher.  I do this because Steiner Ranch does not have a lot of homes in this price range, but they can skew the sales figures.  So let’s take a look at the prices for the first part of 2017 without these higher end homes.  The median price is up 5.8% to $471,000.  The average price is $515,042, up 4.7%.  Again, as comparison, the average price was up 10.4% when the high end homes were included.

We’ve seen improvement in the overall Steiner Ranch market, but not all price ranges are doing so well.  Homes in the mid-price range – especially right around $500,000 or so, have been selling slowly as we now have almost 5 months of inventory at that point.  As always, homes under $350,000 generally sell pretty fast.

The number of available resale homes at the beginning of July was 97, up 19.8% from last July.  Across Steiner, the July sales ranged from a low of $320,000 to a high of $900,000.   The average sales price to list price ratio was 98.6%  For homes that closed in July, the average days on market was 57, up from 29 last July.

As always, my website allows you to look at summary and detailed data for each Steiner Ranch neighborhood.  If you have any real estate related questions, please don’t hesitate to contact me via email or at 512-650-7300. Thanks for reading “How’s The Market In Steiner Ranch.”

Statistics based upon information from ACTRIS for the periods cited.