Steiner Ranch Housing Report - February 2014

In this edition of How’s the Market in Steiner Ranch, I review the January 2014 home sale stats. 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 at 512-650-7300, by email, or use the form below.

Click here for previous editions of How’s the Market in Steiner Ranch.

If you prefer to read instead of watch, here are the chart and transcript:

Transcript

Greetings! I’m Craig Smyser. Welcome to the February 2014 edition of “How’s the Market in Steiner Ranch.”

In January, 12 homes closed in Steiner Ranch which was up 50% from January 2013. Comparing only resale homes, sales were up 25% to 10 homes from 8. Many new construction homes are not listed in the MLS so I cannot provide accurate data on new construction numbers in Steiner Ranch. Of course, there aren’t many new construction homes left in Steiner Ranch anyway. From this point forward, all the stats quoted are for resale homes only. When looking at small sets of data such as one month in Steiner Ranch, I don’t like to compares prices from one year to the next because they can be volatile – and once again this month’s data demonstrates that. Again, let me state that these numbers I’m about to quote don’t reflect the true market. In January, the average price of a resale home increased 42.5% to $491,630. The median price increased by 50% to $462,500. The average price per square foot increased by 6.6% to $138.77. Again, with just 10 sales this year and 8 sales last year, the small data set creates distortion. So to get a better idea of pricing trends, we can look at the last six months and compare it to the same six-month period from the prior year. When we do that, the figures are more of what you would expect. In this case, the average price increased 2.9% to $447,527, the median price decreased 0.4% to $390,500, and the average price per square foot increased 7.6% to $139.69.

The number of available resale homes in January was 32, down almost 41% from last January. I expect that inventory will continue to be low for the next few months so if you are planning to sell your home in the spring, you might want to consider moving up that time frame – contact me to discuss whether it might be a strategy for your situation.

Across Steiner, the January sales ranged from a low of $259,000 to a high of $788,000. The average sales price to list price ratio was 99.2%. For homes that closed in January, the average days on market was 70. That number is the highest number we’ve seen in over a year. Of the 10 homes that closed, four were on the market more than 130 days. As the number of available homes declines, the houses that were unable to sell over the last 4 to 6 months are getting contracts. As always, my website allows you to look at summary and detailed data for each Steiner Ranch neighborhood.

As always, if you have any real estate related questions, please don’t hesitate to contact me at 512-650-7300, by email, or use the form below. Thanks for reading “How’s The Market In Steiner Ranch.”

Statistics based upon information from ACTRIS for the periods cited.