How's the Market in Steiner Ranch - August 2019

The August 2019 installment of How's the Market in Steiner Ranch is now available.  In it, I review the monthly numbers and take a look at the sales figures for 2019 so far.  If you watch regularly, it's going to sound familiar because it's been the same for much of the year.  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.  Welcome to the August 2019 edition of "How's the Market in Steiner Ranch."

In July, 44 resale homes closed in Steiner Ranch which was up 18.9% from July 2018.  This is only the second month this year that showed a year-over-year gain in number of sales.  The median price increased 7.2% to $522,000.  The average price of a home decreased 1.3% to $566,662.  The average price per square foot increased by 5.9% to $174.52.  Now, lets take a look at the year-to-date sales data to get a better overview of the market.  The number of resale homes that sold so far in 2019 is 178, down 6.8% from the same time period in 2018.  The median price of a resale home has decreased 2.2% to $513,500.  The average price decreased by 5.6% to $574,236.  The average price per square foot increased 3.7% to $174.83.  Once again, let me reiterate that I believe prices are actually rising in Steiner, but because we are comparing to last year when we had a higher number of high-end homes selling, the numbers this year appear down.  In fact, the number of homes under $500,000 that have sold is the same this year as last.  But for homes above $500,000, the number of sales this year is down 12.4%.  To demonstrate what I believe is going on across Steiner, let’s look at just one neighborhood, Summer Vista.  Last year through July, six homes sold with a median price of $629,000 while this year three have sold with a median price of $675,000.

The number of available resale homes at the end of July was 54, down 30.8% from last July. This number continues to be low and is a direct result of the few homes that are being offered for sale in Steiner Ranch.  In fact, so far this year, 11.1% fewer homes have been listed for sale.  As we head into the traditionally slower real estate selling season, remember that homes sell all year long and the timing of when should sell has more to do with your personal circumstances than it does trying to time the market.

Across Steiner, the July sales ranged from a low of $339,000 to a high of $990,000.   The average sales price to list price ratio was 99.6%.  For homes that closed in July, the average days on market was 27, down from 42 last July.

As always, my website allows you to look at summary and detailed data for each Steiner Ranch neighborhood.  Simply go to RealEstateInAustin.com and click on the big red “Search Sold Data” button towards the bottom of the page.

The 10^th Annual Kicking for Cash competition is coming up on August 30.  In this event, Vandegrift students kick field goals during halftime to see who can kick the longest one and earn cash for their student group.  I’m proud to be the creator and sole sponsor for this event.  I invite you come out to the first home game of the year to watch this Vandy tradition.

If you have any real estate related questions, please don’t hesitate to call me at 512-650-7300 or email me at [email protected].  Thanks for reading “How’s The Market in Steiner Ranch.”

Statistics based upon information from ACTRIS for the periods cited.