Steiner Ranch Housing Report - April 2021

In March we see an uptick in sales and continue to see major gains in pricing.  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 1835 Realty.  Welcome to the April 2021 edition of “How’s the Market in Steiner Ranch.”  The prices of homes in Steiner are plummeting.  Just kidding – they’re still climbing like crazy.  Let’s take a look.

In March, 23 resale homes closed in Steiner Ranch which was up 15.0% from March 2020.  The median price increased 41.3% to $710,000.  The average price of a home increased 34.8% to $875,691.  The average price per square foot increased by 48.7% to $272.71.  I’m running out of adjectives to describe the prices – I’m not sure if I’ve used staggering over the past few months, but staggering is a good description.  For years I said the monthly stats aren’t as reliable as a six-month snapshot, but right now, the monthly give a better picture because they are the most up-to-date during a fast moving time.  But I still want to look at the last six months, though, just keep in mind that they include sale prices from October which were definitely quite a bit lower. The number of resale homes sold during the past six months is 116, up 22.1% from this same time frame last year.  The median price of a home has increased 34.3% to $671,500.  The average price increased by 21.9% to $762,538.  The average price per square foot increased 22.2% to $227.79.  Like I mentioned last month, the number of buyers in the market is lower than what we saw several months ago.  I believe it is because a lot of buyers realized they just couldn’t compete in the current market and are on the sidelines right now.  The buyers that are in the market, though, continue to be extremely strong in their offers. 

Unfortunately for all of us, the Travis Central Appraisal District has noticed that home prices are rising.  As I record this, TCAD hasn’t released the 2021 appraisal data, but it will happen any day now.  Once the data is available, I will schedule several webinars to talk about the it and teach you how to protest your appraisal if it makes sense for you to do so.  Check out the Discover Steiner Ranch FB group or my website for details.

The number of available resale homes at the end of March was 12, down 57.1% from last March.  Across Steiner, the March sales ranged from a low of $395,000 to a high of $1,770,000.  Yes, $395 is low these days.  In fact, the next lowest price was over half a million.  The average sales price to list price ratio was 116.7%.  Yep, that’s pretty high.  For homes that closed in March, the average days on market was 5, down from 29 last March.  The typical pattern right now for listing homes is to have it available for showings Friday through Sunday with offers due by Sunday or Monday.  Not every home sells in the first weekend, but most do.

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.

I also want to remind you about Discover Steiner Eats.  On most Wednesday evenings, I bring to Steiner a locally-owned restaurant or food truck.  These are popular names you know or smaller places I think you should know.  Most are pre-orders only so keep up to date with the Discover Steiner Ranch FB group or contact me to get on the email list.

Finally, if you are thinking of selling, reach out to me and let’s talk about what you can expect.  Of course, 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 watching “How’s The Market in Steiner Ranch.”

Statistics based upon information from ACTRIS for the periods cited.