Steiner Ranch Housing Report - April 2014

In this edition of How’s the Market in Steiner Ranch, I review the March 2014 home sale stats. Prices continue to move up. 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 at 512-650-7300, by email, or use the form below. Click here for previous editions of How’s the Market in Steiner Ranch.

If you prefer to read instead of watch, here are the chart and transcript:

Transcript

Greetings! I’m Craig Smyser. Welcome to the April 2014 edition of “How’s the Market in Steiner Ranch.”

In March, 16 homes closed in Steiner Ranch which was down 41% from March 2013. All 16 homes were resales – for the third month in a row, there were no MLS-listed new construction sales. The decline over last year for resale homes was 33%. Before I share the price changes for March, I want to remind you that because we have a small data set of just one month, there can certainly be distortions so don’t get too excited when you hear these figures: The average price of a resale home increased 46.5% to $569,319. The median price increased by 30.2% to $460,500. The average price per square foot increased by 17.6% to $152.70. See what I mean, those numbers are staggering! To get a better idea of pricing trends, we can look at the last six months and compare it to the same six-month period from the prior year. When we do that, the figures are not as spectacular, but still are very impressive. The average price increased 11.9% to $481,451, the median price increased 11.4% to $432,500, and the average price per square foot increased 10.1% to $143.73. The biggest movement has come in Steiner’s entry level homes.

The number of available resale homes in March was 59, up 25.5% from last March. While the market is still strong for seller’s, it looks like we are starting to see the inventory recover a bit. Across Steiner, the March sales ranged from a low of $315,000 to a high of $1,275,000. This marks the second month in a row in which the lowest sales price was at or above $300,000. Remember that last month was the first time that had ever happened in Steiner. The average sales price to list price ratio was 98.6%. For homes that closed in March, the average days on market was only 16. As always, my website allows you to look at summary and detailed data for each Steiner Ranch neighborhood.

Finally, I want to invite you to my 5th Annual Property Tax Assessment Protest Workshop. It will be held on Thursday, May 8th at 7:00 at the Towne Square Community Center in Steiner Ranch. The unfortunate downside of our rising market is, of course, the rising tax assessments. I can virtually guarantee that your assessment is going up this year. But you need to protest if it goes up too much and is not based on market values. Come out to learn how to protest your taxes and receive comparable sales that you can use during your protest. As always, if you have any real estate related questions, please don’t hesitate to contact me at 512-650-7300, by email, or use the form below. Thanks for watching “How’s The Market In Steiner Ranch.”

Statistics based upon information from ACTRIS for the periods cited.