How's the Market in Steiner Ranch - June 2018

Posted by Craig Smyser on Tuesday, June 19, 2018 at 3:32 PM By Craig Smyser / June 19, 2018 Comment

In this month's episode of “How’s the Market in Steiner Ranch,” I review the May 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 June 2018 edition of "How's the Market in Steiner Ranch."

In May, 36 resale homes closed in Steiner Ranch which was up 20.0% from May 2017. The median price increased 25.8% to $610,000. The average price of a home increased 34.2% to $380,901. The average price per square foot increased by 10.8% to $179.99. These are phenomenal numbers, one month is a small data set, it is a good idea to look at a longer time period to get a more accurate picture of the market. The number of resale homes in the last six months is 136, which is the exact same number sold during the same time period the year prior. The median price of a resale home has increased 8.9% to an even $500,000. The average price increased by 7.7% to $579,542. The average price per square foot increased 0.5% to $167.07. These longer-term numbers are more realistic, but I do think they skew a bit higher than what the market is really doing. Homes under $450,000 aren’t selling as well this year as they have in the past while higher priced homes are having a better than usual year. As a result, it is skewing the numbers higher.

The number of available resale homes at the beginning of May was 77, down 30.0% from last May. Across Steiner, the May sales ranged from a low of $332,000 to a high of $1,725,000. The average sales price to list price ratio was 98.8%. For homes that closed in May, the average days on market was 29, up from 23 last May.

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.

With school starting early this year, the summer market will slow down by mid-July. If you still want to sell your home this summer, you’ve got to get started now so contact me today as I’d love the opportunity to earn your business.

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.