Steiner Ranch Housing Report - August 2020
The August edition of How's the Market in Steiner Ranch is now available. As usual, we’ll talk about the monthly stats as well as the sales figures for the first half of the year. Let me tell you, they're looking good!
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 is the transcript.
Greetings! I'm Craig Smyser with 1835 Realty. Welcome to the August 2020 edition of "How's the Market in Steiner Ranch." We’ve got some interesting numbers, so let’s dive right in.
In July, 46 resale homes closed in Steiner Ranch which was up 4.5% from July 2019. The median price increased 3.1% to $538,350. The average price of a home increased 20.2% to $681,257. The average price per square foot increased by 10.8% to $193.31. Of course, I always prefer to look at a longer time period to get a more accurate picture of the market because one month is a small data set. The number of resale homes sold so far in 2020 184, up 3.4% from the this time last year. The median price of a resale home has increased 8.3% to $556,000. The average price increased by 11.8% to $641,900. The average price per square foot increased 7.6% to $188.06. Once again, these are very strong numbers. As I said last month, while prices are definitely heading up, but a portion of the increase is that we are simply selling a higher proportion of higher end homes this year compared to last year. In 2020, the number of homes under $500,000 selling is down by about 25% while homes from $500,000 to $1 million are up 18%. Further, sales of homes over $1 million more than tripled in this time frame. While prices across all price ranges are moving up, I just feel like I need to mention that this is part of the reason for the overall large increase in prices.
The number for August closings will be strong, too. The number of homes in Steiner Ranch that accepted an offer (thus becoming a contract) was 31 down from 36 in July 2019. While that would show a weaker August, as I record this, there are 39 homes waiting to close. Of course, only some of them will close in August, but I expect we will surpass the August 2019 number. Usually this time of year is starting to slow down, but I think this year we have more legs so if you’ve had any thoughts, I urge you to contact me today. If you are a buyer, it is definitely harder right now, which is why you need an agent with many years of experience to help you navigate this.
The number of available resale homes at the end of July was 18, down 67.3% from last July. Across Steiner, the July sales ranged from a low of $345,000 to a high of $2,499,000. The average sales price to list price ratio was 99.9%. For homes that closed in July, the average days on market was 24, down from 28 last July.
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.
In case you don’t know, I have been coordinating dinners on Wednesday nights in Steiner by brining in popular, locally-owned restaurants to the neighborhood. Tacodeli and Via 313 Pizza are two of them and I’m lining up other great ones for the coming weeks. If you’d like to know who is coming when, join the Discover Steiner Ranch group on Facebook or simply email me.
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.