Steiner Ranch Housing Report - June 2012

In this edition of How’s the Market in Steiner Ranch?, I review a few of the May 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 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 June 2012 edition of “How’s the Market in Steiner Ranch.” While I usually look at the current market stats then talk about a current real estate topic, I’ve decided to break that segment out into its own video from this point forward. So check out that video to learn more about a recent Supreme Court decision that affects real estate fees.

In May, 39 homes closed in Steiner Ranch which was up 22% from May 2011. Comparing only resale homes, sales were up 43% from 23 to 33 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 decreased 11% to $379,687, the median price increased 8.5% to $364,500, and the average price per square foot decreased by 0.5% to $126.97. We can smooth these numbers out to get a better picture of the market by looking at the first five months of this year compared to the first five months of last year. Comparing these time frames, the average price was down 8.4% to $382,033, the median price was up 5.7% to $355,000, and the price per square foot was down 1.4% to $121.85. Frankly, right now the market seems better than this and I expect that once some of these pending homes close and are reflected in our sales stats, we will see these number increase. Last month, the sale prices in Steiner ranged from $221,000 to $675,000. The number of available resale homes in May was 85, up 6% year-over-year. The number of available homes under $345,000 is currently around 18% of the available resale homes, which is very low considering that half the homes in Steiner Ranch sold below that price last year. The average sales price to list price ratio was 98.2%. For homes that closed in May, the average days on market was 29. While that is a very low number, keep in mind that not all homes sell right away. Almost half of the homes on the market now have been for sale at least two months and almost a third have been for sale at least three months. As always, my website allows you to look at summary and detailed data for each Steiner Ranch neighborhood (click here) months.

If you have any real estate related questions, please don’t hesitate to contact me at 512-650-7300, by email, or the form below.Thanks for watching (reading) “How’s the Market in Steiner Ranch.”

Statistics based upon information from ACTRIS for the periods cited.