Steiner Ranch Housing Report - July 2012

In this edition of How’s the Market in Steiner Ranch?, I review a few of the June sales stats and give my interpretation of them.

To view summary and detailed information for all Steiner Ranch neighborhoods, check out the Neighborhood Home Sale Data. 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 transcript:

Transcript

Greetings! I’m Craig Smyser. Welcome to the July 2012 edition of “How’s the Market in Steiner Ranch?” While this video will look at the June 2012 stats, I also have a video that looks at the first half of the year (you can find that video here).

In June, 36 homes closed in Steiner Ranch which was down 33% from June 2011. Comparing only resale homes, sales were down almost 19% from 37 to 30 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. For the record, the average price of a resale home increased 10.7% to $451,700, the median price increased 5.4% to $420,500, and the average price per square foot increased almost ½ percent to $131.46. Over the past year, many months have mixed results for these stats, with the average price up and the median price down, or vice versa. The fact that we have these pricing stats up across the board is good for sellers. Last month, the sale prices in Steiner ranged from $240,000 to $975,000. The number of available resale homes in June was 89, down 17% year-over-year. The number of available homes under $345,000 is currently around 16% of the available resale homes, which is very low considering that half the homes in Steiner Ranch sold below that price last year. Even if I increase the price to $375,000 because of rising prices since last year, it is still only 25% of the available homes. This just reinforces that the homes in the lower half of the price range in Steiner Ranch are still highly in demand. The average sales price to list price ratio was 98.2%. For homes that closed in June, the average days on market was 54. As always, my website allows you to view both summary and detailed data for each Steiner Ranch neighborhood (click here).

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 (reading) “How’s the Market in Steiner Ranch?”

Statistics based upon information from ACTRIS for the periods cited.