Steiner Ranch Housing Report - June 2013

In this edition of How’s the Market in Steiner Ranch, I review the May 2013 home sale stats. 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 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 June 2013 edition of “How’s the Market in Steiner Ranch.”

In May, 35 homes closed in Steiner Ranch which was down 14.6% from May 2012. Comparing only resale homes, sales were down 8.8% to 31 homes. This drop should not be taken as a sign of market weakness. On the contrary, the market is doing well but the low inventory we saw this spring has simply resulted in fewer homes available for purchase. Many new construction homes are not listed in the MLS so I cannot provide accurate data on new construction numbers in Steiner Ranch. Of course, as we get so close to the complete build-out, there are far fewer new construction homes available anyway. From this point forward, all the stats quoted are for resale homes only. The average price of a resale home increased 13.6% to $444,058 and the median price increased 9.2% to $405,000. The average price per square foot increased 2.3% to $130.72. To get a better idea of the pricing, we can look at a longer period of time. If we look at the past six months and compare to the corresponding period a year prior, the average price is up 9.8% and the median price is up 11.9%. Overall, we are looking at values about 10% higher than a year ago. However, not all properties are up by this same amount. The increase is uneven in Steiner Ranch with the entry-level homes seeing a larger percentage increase than the upper price ranges. Last month, the sale prices in Steiner ranged from $274,000 to $1,005,000. The number of available resale homes in May was 127, up a whopping 49% from last May. In fact, there were 78 new listings to hit the market during the month. I guess all the talk of the low inventory prompted enough sellers to list their homes and give us a bit of breathing room. The average sales price to list price ratio was 99.1%. For homes that closed in May, the average days on market was 29. As always, my website allows you to look at summary and detailed data for each Steiner Ranch neighborhood.

If you are planning to sell your Steiner Ranch home this summer, don’t wait any longer – contact me today.

Finally, be sure to come out for the Steiner Ranch Fourth of July parade at John Simpson Park. I’ve been asked to sell cotton candy and, once again, the proceeds will be going to the Hill Country Education Foundation. So come on out and let me load up your kids with sugar between 9:00 and 11:00am.

As always, 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.