Steiner Ranch Housing Report - July 2014
In this edition of How’s the Market in Steiner Ranch, I review the June stats and recap the numbers for the first half of 2014. 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, online form, or at 512-650-7300. Click here for previous editions of How’s the Market in Steiner Ranch.
Greetings! I’m Craig Smyser with RE/MAX Capital City. Welcome to the July 2014 edition of “How’s the Market in Steiner Ranch.” In addition to the June stats, I will also review the numbers for the first half of the year.
In June, 46 homes closed in Steiner Ranch which was down 25.8% from June 2013. Last June was a monster month, so I am not too concerned about this drop. Keep in mind that the 46 sales are higher than May of this year. There was one new construction sale. 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, there were 45 sales which was down 23.7% from last June. From this point forward, all the stats quoted are for resale homes only. The average price of a resale home decreased 4.8% to $516,989. The median price increased by 3.4% to $449,900. The average price per square foot increased by 5.7% to $153.22. As I have mentioned before, one month numbers aren’t the most accurate. In a bit, we’ll look at the first half of the year to get a better picture. The number of available resale homes in June was 94. Across Steiner, the June sales ranged from a low of $300,000 to a high of $1,385,000. This marks the fifth month in a row in which the lowest sales price was at or above $300,000. The average sales price to list price ratio was 98.1%. For homes that closed in June, the average days on market was 30.
While the monthly numbers are always good to know, I much prefer looking at a longer time frame so we can smooth out any one-time spikes or drops that can skew the stats. All of the following stats are resale homes only and compare the first six months of 2014 to first six months of 2013. There were 164 sales which was down 1.2% from last year. The average price of a resale home increased 9.2% to $507,330. The median price increased by 10.6% to $442,000. The average price per square foot increased by 11.3% to $151.34. So no matter which measure you use, it is safe to say that prices in Steiner Ranch are up roughly 10% over last year. The average sales price to list price ratio was 98.3%. For homes that closed in the first half of 2014, the average days on market was 33.
Overall, we currently have a 3.4 month supply of homes in Steiner Ranch, which is certainly a seller’s market. This level is a bit lower than last month so we are finally starting to absorb the big influx of homes that hit the market in May. There are still two price ranges that are technically a buyer’s market: $500,000 to $650,000 and over $1 million. Both of these are also looking better than they did a few weeks ago.
Statistics based upon information from ACTRIS for the periods cited.