Steiner Ranch Housing Report - March 2014

In this edition of How’s the Market in Steiner Ranch, I review the February 2014 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 are the chart and transcript:

Transcript

Greetings! I’m Craig Smyser. Welcome to the March 2014 edition of “How’s the Market in Steiner Ranch.”

In February, 18 homes closed in Steiner Ranch which was down 5.3% from February 2013. All of the homes sold were resale so when we compare just the resale numbers, sales were up 12.5% to 18 homes from 16. From this point forward, all the stats quoted are for resale homes only. In February, the average price of a resale home increased 11% to $518,407. The median price increased by 4.5% to $459,000. The average price per square foot increased by 8.7% to $145.70. Those are some good numbers but because the data set is small, it is always better to look at a bit of a longer time frame so we can smooth out some volatility. So if we look at the last six months and compare it to the same six-month period from the prior year, the numbers are a bit more tempered. The average price increased 1.3% to $452,730, the median price decreased 2.2% to $413,910, and the average price per square foot increased 7% to $141.08.

The number of available resale homes in February was 45, up almost 10% from last February. This is still a low inventory number but we should see the numbers increasing over the coming months. Contact me now if you are considering the sale of your home so we can discuss when might be the best time to hit the market.

Across Steiner, the February sales ranged from a low of $300,000 to a high of $725,000. That was the first time I could remember the low price being at $300,000 or higher so I dug through the MLS to find the last month that occurred. As it turns out, this was the first time it has happened in Steiner Ranch. Technically, back in the 90s, there were months that had no sales but for months in which resale homes have sold in Steiner Ranch, February 2014 is the first month in which the lowest price was at least $300,000. The average sales price to list price ratio was 98%. For homes that closed in February, the average days on market was 41. As always, my website allows you to look at summary and detailed data for each Steiner Ranch neighborhood.

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.”