Steiner Ranch Housing Report - 2015 Year End
In this edition of “How’s the Market in Steiner Ranch,” I discuss the 2015 year end stats and make my predictions for 2016. Below the video, you can find the same information in chart and text formats.
Extra sales statistics mentioned in the video can be found here:
Price changes for each Steiner Ranch neighborhood.
Complete set of graphs with 5-year comparison data.
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 2015 Year End edition of “How’s the Market in Steiner Ranch.” In short, it was another good year for real estate in Steiner Ranch, but not as good as the rest of the Austin area.
First of all, I want to remind you that all of these figures are for resale homes only. There are still a few new construction homes in Steiner Ranch, but I am not including them in these statistics. In 2015, 305 homes closed in Steiner Ranch which was down 5.6% from 2014. However, the number of homes that were offered for sale at some point in 2015 was up 2.8% from 2014 which indicates a market softening a bit. The median price of a resale home increased 3.7% to $449,000, the average price increased 5.8% to $531,183, and the average price per square foot increased 2.9% to $154.46. In real estate, the most widely used measure of home values is the median price. So while the average price increased by more, you will always hear me talk about an increase this past year of almost 4% Though prices have increased each year since 2011, the rate of increase has slowed each year. I do want to point out that prices do not rise at the same level across all of Steiner Ranch. Some neighborhoods were up and some were down. If you would like to see a list of each Steiner neighborhood and its annual price change, there should be a link below where you launched this video or simply visit SteinerStats.com.
Throughout much of the year, the inventory in 2015 was generally higher than in 2014. But by the very end of the year, the number of available homes at the end of the year was 48 which was 5.9% less than the 51 available at the end of 2014.
Last year, the sale prices in Steiner ranged from $285,000 to $3,515,000. The average sales price to list price ratio was 98.3% For homes that closed in 2015, the average days on market was 53, up 26% from 2014. A complete set of graphs for 2015 home sale statistics is available by using the link below this video or at SteinerStats.com. It includes a great one that shows the number of homes sold in each price range.
So it’s time to make predictions. Last year, I was 1 for 2. I predicted that prices would rise by less than 5% and I was right on the money since they increased 3.7% However, I missed the number of homes sold as I predicted an increase of less than 2% yet we dropped by 5.6% Let’s see if I can do better for 2016. I believe that the real estate resale market in Steiner Ranch will be much the same as last year. Therefore, I predict that prices will rise again but by just 3.5% I think the number of homes sold will hold fairly steady, but I will predict a slight decrease of 1.5%.
We head into 2016 with a slightly softer, but still healthy real estate market in Steiner Ranch. If you have to buy or sell this year, I would greatly appreciate the opportunity to earn your real estate business. You can contact me at 512-650-7300 or by email. Thanks for reading “How’s The Market In Steiner Ranch.”
Statistics based upon information from ACTRIS for the periods cited.