How's the Market in Steiner Ranch - May 2018
In this month's episode of “How’s the Market in Steiner Ranch,” I review the April sales statistics for Steiner Ranch and discuss why I think the sales figures are skewed upward. 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 May 2018 edition of "How's the Market in Steiner Ranch."
In April, 29 resale homes closed in Steiner Ranch which was down 3.3% from April 2017. The median price decreased 0.5% to $499,900. The average price of a home decreased 4.5% to $520,231. The average price per square foot decreased by 3.5% to $160.54. It is also a good exercise 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 116, down 7.2% from the same time period the year prior. The median price of a resale home has increased 5.2% to $494,250. The average price decreased by 4.1% to $541,887. The average price per square foot decreased 3.8% to $161.34. The median price is the key number in real estate, so the market is still healthy in Steiner. Like last year, the homes over $500,000 are selling better than the homes under $500,000. Historically, that hasn’t been the case, so we will continue to see how the market plays out this year. Although sometimes I talk about distortion from homes over $1 million, but we are not seeing evidence of that at this time.
The number of available resale homes at the beginning of April was 52, down 42.9% from last April. We usually see an inventory increase in April and this year was no exception, it’s just that there are fewer homes than last year available. Across Steiner, the April sales ranged from a low of $345,000 to a high of $880,000. The average sales price to list price ratio was 98.0%. For homes that closed in April, the average days on market was 41, up from 40 last April.
With school starting on August 16th this year, the summer real estate market will end sooner than it usually does. If you are thinking about moving this summer, you don’t have much time left to get the ball rolling so contact me today.
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.