Steiner Ranch Housing Report - February 2016
In this edition of “How’s the Market in Steiner Ranch,” I talk about the January stats as well as the last six-months of data, which provides a better picture of the market. 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 February 2016 edition of “How’s the Market in Steiner Ranch.”
In January, 15 resale homes closed in Steiner Ranch which was up 66.7% from January 2015. The pricing is going to sound rocky, but I will explain once I rattle them off for you. The median price decreased 15.8% to $420,000. The average price of a home decreased 38.3% to $495,967. The average price per square foot decreased by 21.1% to $143.34. The numbers seem bad because we are comparing just this January to last January. In January 2015, there were only 9 homes that closed and one of them was almost $3 million so it greatly distorted the median price, average price, and average price per square foot. So let’s look at a longer time period to get a more accurate picture of the market. The number of resale homes in the last six months is 142, up 7.6% from the same time period the year prior. The median price of a resale home has increased 1.9% to $432,750. The average price decreased by 3.3% to $515,102. The average price per square foot decreased 0.7% to $151.72. That is about what I would expect given our market as of late.
The number of available resale homes at the beginning of January was 48, down 4.0% from last January. January is typically the month with the lowest inventory so we’ll see that number start to climb for the next 6 months or so.
Across Steiner, the January sales ranged from a low of $288,000 to a high of $925,000. The average sales price to list price ratio was 97.1%. For homes that closed in January, the average days on market was 73, down 12.1% from last January.
As I mentioned earlier, the number of homes coming to the market in Steiner Ranch will be increasing for the next several months. If you are thinking of selling your home this spring or summer, contact me today and we’ll get the process started.
I also want to say a few words about leasing homes in Steiner Ranch. Approximately 6 or 7% of the homes in Steiner are rental properties – many of which are owned by people who live in Steiner. If you are looking for a real estate agent to find a tenant for your house, I would love to help. I utilize a professional photographer and a comprehensive online application system which makes it easy for prospective tenants. If you desire property management services, I can also assist you with that. As a caveat, if you don’t own rental property, but wish you did, contact me and I’ll be happy to discuss with you the good, the bad, and the ugly so you can determine if owning investment real estate is right for you.
If you would like to see the sales price for any particular home in Steiner Ranch, that information can be accessed here. 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.