Steiner Ranch Housing Report - January 2013

In this edition of How’s the Market in Steiner Ranch, I review the December 2012 home sale stats. Below the video, you can find the 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 is the chart and transcript:

Transcript

Greetings! I’m Craig Smyser. Welcome to the January 2013 edition of “How’s the Market in Steiner Ranch.” While this video will only discuss the December stats, you can also view the 2012 Year End video which looks at the entire year. You can find that video right where you found this one.

In December, 26 homes closed in Steiner Ranch which was up 4% from December 2011. Comparing only resale homes, sales were up 31% from 16 to 21 homes. Keep in mind that many new construction homes are not listed in the MLS so I cannot provide accurate data on new construction numbers in Steiner Ranch. 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 this month is a perfect example of that. For the record, the average price of a resale home increased 17.9% to $435,819 and the median price increased 41% to $410,800. A closer look at the data tells us that in addition to some price appreciation this year, we are comparing two diverging months. December 2011 had sales prices well below the average and median for the year while December 2012 had sales prices above the average and median for the year. The result is a very large difference in year-to-year prices that are skewed and not very reflective of reality. For a better picture of the prices, watch the 2012 Year End video. As for the average price per square foot, it increased 1.6% to $127.60.

Last month, the sale prices in Steiner ranged from $260,000 to $830,000. The number of available resale homes in December was 61, down 18% year-over-year. The average sales price to list price ratio was 98.6%. For homes that closed in December, the average days on market was 98. That number is definitely higher than we’ve seen in a long time. Of the 21 homes that closed, 12 were on the market more than 100 days and six of those were more than 150 days. As the number of available homes declines, the houses that were unable to sell over the last 4 to 8 months are a notable portion of the market so they are getting contracts. As always, my website allows you to look at summary and detailed data for each Steiner Ranch neighborhood.

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 watching “How’s The Market In Steiner Ranch.”

Statistics based upon information from ACTRIS for the periods cited.