Steiner Ranch Housing Report - April 2015
n this edition of “How’s the Market in Steiner Ranch,” I talk about the March stats and whether or not 2015 is shaping up to be a slow year. 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. Welcome to the April 2015 edition of “How’s the Market in Steiner Ranch.” This month we’ll look at whether or not 2015 is shaping up to be a slow year.
In March, 11 homes closed in Steiner Ranch which was down 31.3% from March 2014. That is a pretty low number for March. Usually the month is a nice bridge between the quiet winter months and the increased spring market. This year, it was just a continuation of the quiet winter. So should we be worried? I don’t think so. Inventory was still fairly low in February, which is when contracts would be written for most March closings. On these videos, I usually don’t talk about the number of homes under contract in order to keep them from getting longer than they already are. But in March, 37 homes went under contract. Many of these will close in April and a number in that range would be a good showing for Steiner. As I record this, almost 40% of the homes on the market in Steiner are under contract and that is a good figure. So given the contract activity of the past few weeks, I am not worried about a slow year in Steiner. Of course, with a very small set of data to draw on for prices, don’t put too much weight on the monthly pricing figures. The median price decreased 13.4% to $395,000. The average price of a resale home decreased 3.7% to $548,318. The average price per square foot increased slightly by 0.1% to $152.86. In order to get a better picture of the market, let’s look at the last six months and compare it to the corresponding six-month period from a year earlier. The median price of a resale home decreased 4.7% to $409,997. The average price increased by 4.4% to $503,290. The average price per square foot increased by 4.8% to $151.18. We’ve seen a higher percentage of the entry level homes in Steiner selling over the last few months. We are starting to see some contracts in the higher prices, so we’ll see if these figures improve over the coming months. As a reminder, in 2014 the median price increased 5.3% in Steiner. This year I expect the increase to be a bit lower.
The number of available resale homes at the beginning of March was 60, up 1.7% from last March. As the number of homes available changes every day, I can tell you the numbers are certainly increasing as we approach the stronger spring market (we are well over 80 active homes as I record this video in early April).
Across Steiner, the March sales ranged from a low of $344,000 to a high of $970,000. The average sales price to list price ratio was 98.3%. For homes that closed in March, the average days on market was 57. As always, my website allows you to look at summary and detailed data for each Steiner Ranch neighborhood.
Before I conclude, I want to mention that all of my marketing I do for my own listings now includes drone video and photos. It makes for a dramatic addition to the marketing and certainly an aspect that few agents are utilizing. I’ve used video of houses I market for about 10 years and thought for sure that other agents would jump in, but shockingly few did. I do think we’ll see more agents using drone photos and that is a good thing. If you are thinking of buying or selling, contact me today so we can get started.
As always, if you have any real estate related questions, please don’t hesitate to contact me via email or at 512-650-7300. Thanks for reading “How’s The Market In Steiner Ranch.”
Statistics based upon information from ACTRIS for the periods cited.