Steiner Ranch Housing Report - May 2016
In this edition of “How’s the Market in Steiner Ranch,” I talk about the April stats and the strong spring market we’re experiencing. 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. Welcome to the May 2016 edition of “How’s the Market in Steiner Ranch.” The real estate market in Steiner is stronger than it has been in a few years so let’s get right to the numbers.
In April, 36 resale homes closed in Steiner Ranch which was up 12.5% from April 2015. The median price increased 10.5% to $491,250. The average price of a home increased 7.5% to $510,472. The average price per square foot increased by 6.3% to $156.27. We can get a better take on the market by using a longer time frame, so let’s look at the past six months and compare it to the same six-month period a year prior. In this case, the number of homes that sold was 140, up a phenomenal 35.9%. The median price increased 6.0% to $450,000. The average price of a home increased 5.4% to $515,338. The average price per square foot increased by 4.7% to $156.55. These are some really healthy increases.
The number of available resale homes at the beginning of April was 74, down from 82 in April 2015. To be clear, that does not include homes that are under contract. Although the number of available homes is down, this is not because fewer homes have been offered for sale this year. In fact, from January to April in 2015, there were 172 homes listed for sale in Steiner Ranch. This year during that time frame, there were 183. So even though more homes are being offered for sale, they are being purchased faster than they were last year, resulting in lower inventory and higher prices. Great for sellers, but not so great for buyers.
I do want to point out that not all homes sell quickly. Right now about 25% of the homes on the market have been for sale for at least 2 months and almost 10% have been for sale for more than 6 months. It is still important to properly price your home. With my own listings we are pushing the pricing envelope on almost every one. And many are selling quickly. I use a very strong pre-MLS marketing strategy to help generate interest before we even get into the MLS. If you are thinking of selling, there is still time to take advantage of this strong market so contact me today.
Across Steiner, the April sales ranged from a low of $305,000 to a high of $945,000. The average sales price to list price ratio was 98.8%. For homes that closed in April, the average days on market was 33, down 8.3% from last April.
As always, if you have any real estate related questions, please don’t hesitate to contact me via email or at 512-650-7300. Thanks for reading “How’s The Market In Steiner Ranch.”
Statistics based upon information from ACTRIS for the periods cited.