Steiner Ranch Housing Report - December 2014
In this edition of “How’s the Market in Steiner Ranch,” I talk about the November stats and the current inventory levels. 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 December 2014 edition of “How’s the Market in Steiner Ranch.”
In November, 12 homes closed in Steiner Ranch which was down 36.8% from November 2013. There was one new construction sale, but since many new construction sales are not listed in the MLS, I can’t provide accurate data on the new sales. When looking at resale homes only, the 11 November sales was down 42.1% from last year. The average price of a resale home increased 9.9% to $433,526. The median price decreased by 1.4% to $345,000. The average price per square foot increased by 1.8% to $138.50. Because one month is a small data set which can be subject to volatility, I prefer to look at longer periods of time. So let’s compare the prices from the past six months to the corresponding six-month period in 2013. The average price of a resale home increased 6.3% to $509,354. The median price increased by 4.0% to $433,000. The average price per square foot increased by 6.6% to $150.41.
The number of available resale homes in November was 55 which was up 1.9% from the prior year. This is the first time since April that the inventory has increased on a year-over-year basis. While inventory continues to be low, so far it appears that it is not going to be as tight as last winter. Of course, with fewer homes selling this month, it leaves more homes on the market. However, we are still in a seller’s market across the Steiner Ranch market overall with about a 2 month supply of homes. Keep in mind that inventory is still dropping as we head towards the end of the year with 18% fewer homes available in November than we had in October.
Across Steiner, the November sales ranged from a low of $290,000 to a high of $630,000. The average sales price to list price ratio was 98.0%. For homes that closed in November, the average days on market was 92.
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.