Steiner Ranch Housing Report - November 2015

In this edition of “How’s the Market in Steiner Ranch,” I talk about the October stats and I remind you that one month’s stats are not the best representation of the overall condition of the market. 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.  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 November 2015 edition of “How’s the Market in Steiner Ranch.”

In October, 22 resale homes closed in Steiner Ranch which was down 8.3% from October 2014.   The median price increased 10.3% to $444,000.  That is certainly a nice jump, but the average price of a home decreased 1.0% to $505,375.  The average price per square foot increased by 3.0% to $157.30.  Clearly, these key sale figures are all over the map for October.  This is exactly why I like to look a longer period of time when comparing pricing data.  So let’s look at year-to-date data which provides us 10 months of information.  The number of resale homes sold so far in 2015 is 260, down 12.2% from the same time period in 2014.  Now if you wonder why the year-to-date total I gave last month plus the total from October doesn’t equal 260, the answer is that not all real estate agents report their sales numbers in a timely fashion.  The median price of a resale home increased 3.2% to $449,450.  The average price increased by 4.1% to $530,640.  The average price per square foot increased by 2.1% to $154.23.  Clearly, these numbers are all fairly close which presents a much more reliable take at how the Steiner Ranch housing market has done this year.  In short, few homes sold but a small increase in values.  Compared to Austin, Steiner is trailing in appreciation.

The number of available resale homes at the beginning of October was 80, up 19.4% from last October.  To be clear, that does not include homes that are under contract.  The number of homes for sale in Steiner generally decreases month-over-month at this time of year and that is occurring.

Across Steiner, the October sales ranged from a low of $295,500 to a high of $1,025,000.   The average sales price to list price ratio was 98.7%.  For homes that closed in October, the average days on market was 58, down 13.4% from last October.

As we head into the quieter part of the real estate calendar, I will mention that December through February can be a great time to have your house for sale.  While the number of buyers looking is smaller, most tend to be very motivated and plan to buy in a short period of time.  The amount of competition is lower as there are fewer houses for sale at this time of year.  If you are considering the sale of your house, get in touch with me to discuss if now would be a good time.

If you would like to see the sales price for any particular home in Steiner Ranch, that information can be accessed here.  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.