Steiner Ranch Housing Report - May 2021
In April, 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 May 2021 edition of “How’s the Market in Steiner Ranch.” While the market isn’t as frenzied as it was a few months ago, the prices continue to climb. Let’s get right to the numbers.
In April, 31 resale homes closed in Steiner Ranch which was up 24.0% from April 2020. While last April was the lockdown month, homes that closed went under contract predominantly in March so we won’t be making covid comparisons until next month. The median price increased a phenomenal 51.7% to $879,750. The average price of a home increased 55.7% to $978,134. Yes, the average price was close to $1 million. Just let that sink in. The average price per square foot surged by 47.3% to $276.63. 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. We are getting to the point, though, at which these six month numbers encompass the timeframe at which prices really started to increase at a much faster rate. The number of resale homes sold during the past six months is 120, up 18.8% from this same time frame the year prior. The median price of a home has increased 33.3% to $720,000. The average price increased by 28.1% to $835,250. The average price per square foot increased 28.9% to $245.90. I already mentioned the market isn’t as frenzied. Essentially, there are fewer buyers in the market as many have exited without buying. They simply can’t afford the prices in Steiner at this point or don’t have enough cash to bridge the gap between the sales price and the appraised value. Also, we’ve seen more homes listed which is helping a bit, as well. On two weekends in April, we had more homes on the market than any point since August. While many homes still sell in the first weekend, we are seeing some last longer than that. I even saw a couple of price reductions lately. So overall, the market is still extremely strong on the seller side, but we are beginning to see it cool – the question is whether it will last as we head into the stronger summer months.
The number of available resale homes at the end of April was 4, down 90.2% from last April. Across Steiner, the April sales ranged from a low of $594,900 to a high of $1,970,000. The average sales price to list price ratio was 113.1%. For homes that closed in April, the average days on market was 4, down from 31 last April.
As always, my website allows you to look at summary and detailed data for each Steiner Ranch neighborhood. Simply go to RealEstateInAustin.com and click on the big red “Search Sold Data” button towards the bottom of the page.
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 watching “How’s The Market in Steiner Ranch.”
Statistics based upon information from ACTRIS for the periods cited.