Steiner Ranch Housing Report - June 2021
In May, we continued to see increases in homes sold and prices but is the market softening? Watch the full report below to find out. 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 or at 512-650-7300. Previous editions of How’s the Market in Steiner Ranch are also available. If you prefer to read instead of watch, here are the chart and transcript.
Greetings! I'm Craig Smyser with 1835 Realty. Welcome to the June 2021 edition of "How's the Market in Steiner Ranch.” While still a super seller’s market, we’re starting to see signs of cooling. Let’s get right to the numbers.
In May, 38 resale homes closed in Steiner Ranch which was up 111.1% from May 2020. May generally reflects homes that went under contract in April so it is no surprise to see this big gain this year since April 2020 was the lockdown month. The median price increased 53.2% to $821,000. The average price of a home increased 71.8% to $966,892. Wow! A 72% increase to an average that is almost $1 million. Amazing. The average price per square foot increased by 62.4% to $292.39. For years I said the monthly stats aren’t as reliable as a six-month snapshot, but right now, the monthly give a better picture because they are the most up-to-date during a fast moving time. The number of resale homes sold during the past six months is 136, up 29.5% from this same time frame the year prior. The median price of a home has increased 38.4% to $775,000. The average price increased by 35.7% to $900,496. The average price per square foot increased 39.5% to $266.33. With these incredible numbers, you may wonder why I feel the market is starting to cool. Well, these stats are for homes that closed last month and most of those contracts would have been written in April. The market slowing is what I am currently observing in today’s market. For example, in March, only one home that sold was on the market for more than a week. As I record this, 8 of the 9 homes available in Steiner have been on the market for at least a week. Sure, in a regular market that’s no big deal, but its why I say the market is cooling off. Do we still have homes that sell the first weekend with multiple offers? Yes, but not all of them.
The number of available resale homes at the end of May was 11, down 71.1% from last May. Across Steiner, the May sales ranged from a low of $580,000 to a high of $2,294,250. The average sales price to list price ratio was 113.0%. For homes that closed in May, the average days on market was 7, down from 17 last May.
As always, my website allows you to look at summary and detailed data for each Steiner Ranch neighborhood. I’ve made some website changes recently so to view this data, temporarily go to SteinerHouses.com.
Finally, if you are thinking of selling, reach out to me and let’s talk about what you can expect. Of course, if you have any real estate related questions, please don’t hesitate to call me at 512-650-7300 or email me at [email protected]. Thanks for reading “How’s The Market in Steiner Ranch.”
Statistics based upon information from ACTRIS for the periods cited.