How's the Market in Steiner Ranch - July 2018

In this month's episode of “How’s the Market in Steiner Ranch,” I review the June sales statistics for Steiner Ranch.  Prices are up quite a bit, but my full report explains why not all of Steiner is faring so well.  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 July 2018 edition of "How's the Market in Steiner Ranch."

In June, 38 resale homes closed in Steiner Ranch which was down 34.5 pct. from June 2017.  This is a large drop and not very common for Steiner.  Prices, however, remained strong as the median price increased 3.7 pct. to $555,000.  The average price of a home increased 23.3 pct. to $704,604.  The average price per square foot increased by 2.1 pct. to $172.25.  It’s a good idea to look at a longer time period to get a more accurate picture of the market.  The number of resale homes sold in the first six months of the year is 153, which is down 12.6 pct. compared to the first six months of 2017.  Almost of that drop occurred in June.  The median price of a resale home has increased 10.5 pct. to $525,000.  The average price increased by 10.8 pct. to $615,115.  The average price per square foot increased 0.2 pct. to $169.54.  While the prices are very healthy numbers, several percentage points can be attributed to the higher number of homes over $1 million selling this year as compared to last year.  Further, we continue to see that entry level homes in Steiner are not selling nearly as well as they did in 2017 which also skews the prices a bit higher.

The number of available resale homes at the beginning of June was 76, down 26.2 pct. from last June.  We continue to see low inventory numbers this year which is also helping to support prices.  Across Steiner, the June sales ranged from a low of $337,250 to a high of $5,500,000.   The average sales price to list price ratio was 98.6 pct.  For homes that closed in June, the average days on market was 48, up from 36 last June.

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.

Overall, the market in Steiner is softening, though it still remains a seller’s market across most price ranges.

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.