How's the Market in Steiner Ranch - June 2019
The June 2019 installment of How's the Market in Steiner Ranch is here. In it, I review the monthly numbers (and explain why they look they way they do) and review the sales from the last six months to get a more accurate picture of the market in Steiner Ranch. Watch the full video to get the complete explanation because a high price sale causes a few skewed statistics. 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.
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Greetings! I'm Craig Smyser. Welcome to the June 2019 edition of "How's the Market in Steiner Ranch."
In May, 37 resale homes closed in Steiner Ranch which was down 2.6% from May 2018. The median price decreased 11.5% to $540,000. The average price of a home decreased 17.5% to $557,074. The average price per square foot decreased by 1.6% to $175.83. The reason for this is that last year, there were six homes over $1 million that sold in May and none this year. If we exclude homes over $1 million, the median price was flat. Now, lets take a look at the sale data for the last six-months to get a better overview. The number of resale homes that sold in the last six months is 119, down 13.8% from the same time period the year prior. The median price of a resale home has decreased 0.2% to $499,000. The average price decreased by 3.2% to $561,023. The average price per square foot increased 2.2% to $170.55. All year long, the prices statistically have dropped quite a bit. Regular viewers know that it is because we had so few entry-level homes offered for sale for much of last year so the drop was more of an aberration than what the market was really doing. As our comparison numbers from last year begin to normalize, we see the numbers are not only looking healthier, but they are getting closer to looking like the market truly is.
The number of available resale homes at the end of May was 58, down 26.6% from last May. 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, about 10% fewer homes have been listed for sale. If you are even just having ponderings about selling your house, all me because we have buyers wanting to buy who can’t find what they want.
Across Steiner, the May sales ranged from a low of $358,587 to a high of $885,000. The average sales price to list price ratio was 99.7%. For homes that closed in May, the average days on market was 25, down from 34 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.
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.