Steiner Ranch Housing Report - April 2016

In this edition of “How’s the Market in Steiner Ranch,” I talk about the March sales statistics and I explain why the average days on market can be so high this time of 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 2016 edition of “How’s the Market in Steiner Ranch.”

In March, 27 resale homes closed in Steiner Ranch which was up 125.0% from March 2015.  The median price increased 27.3% to $465,000.  The average price of a home increased 12.8% to $536,293.  The average price per square foot increased by 10.2% to $162.38.  These are extremely solid numbers.  2016 is starting out as a strong year in Steiner Ranch, though not as strong as these numbers indicate.  Therefore, let’s look at the past six months and compare it to the same six-month period a year prior.  The number of homes that sold was 126, up 34.0%.  The median price increased 11.5% to $442,500.  The average price of a home increased 3.9% to $513,917.  The average price per square foot increased by 4.0% to $156.54.  These numbers are great and I can tell you as someone who works in this market every day, that it is strong.  We will see if the strength is maintained as the inventory continues to rise over the next few months.

The number of available resale homes at the beginning of March was 60, the same as March 2015.  To be clear, that does not include homes that are under contract.  However, the market seems to be doing a great job of absorbing them.  If you plan to sell this spring, you need to contact me today, because the inventory is rising almost daily and, if past years are any indication, it won’t be long before we have more than 100 active homes in Steiner Ranch.

Across Steiner, the March sales ranged from a low of $320,000 to a high of $1,175,000.   The average sales price to list price ratio was 98.5%.  For homes that closed in March, the average days on market was 67, up 21.8% from last March.  This number is rather high so let me explain.  Of the 27 sales, 9 homes had been on the market for more than 100 days and 3 of those were more than 300 days.  Closings in March are generally from contracts signed in January and February when the inventory is lower than other times of the year.  As a result, sometimes the homes that have been sitting for a while finally get a chance to sell because there is less competition.

My free, annual workshop “How to Protest Your Property Tax Assessment” is approaching.  We’ll discuss the protesting process, deadlines, and expectations for success. All attendees will receive sales information for their specific neighborhood that can be used to protest. We’ll meet at the Towne Square Community Center in Steiner Ranch on Tuesday, May 3rd at 7:00pm.

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.