Steiner Ranch Housing Report - November 2016
In this edition of “How’s the Market in Steiner Ranch,” I talk about the October stats, look at the year-to-date numbers, and also discuss the stats when excluding home sales over $1,000,000. 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 November 2016 edition of “How’s the Market in Steiner Ranch.”
In October, 15 resale homes closed in Steiner Ranch which was down 34.8% from October 2015. The median price increased 6.9% to $455,000. The average price of a home decreased 4.2% to $478,140. The average price per square foot increased by 3.1% to $160.97. It is always better to look at a longer period of time so we can get a clearer picture of the overall market. In this case, we’ll look at the sales from the first of the year through October 31st and compare them to the same period from 2015.
The number of homes that have sold, so far, in 2016 is 298, up 14.6% compared to the year-ago period. The median price increased 0.5% to $450,000. The average price of a home decreased 4.8% to $504,527. The average price per square foot increased by 1.7% to $156.87. For several months I’ve been saying that the sales prices are stronger than the statistics indicate. One reason is that we’ve had far fewer homes at or over $1 million sell in 2016 as there have been 4 this year compared to 11 through this point last year. If we exclude the sales of homes at $1 million or higher, you see a definite improvement as the median price has increased by 2.8% over last year. That’s more than a 2% improvement. As for the average price, it shows an increase by 0.7% which is more than 5% higher than when we include the homes over $1 million. So while these pricing numbers aren’t great, it is worth understanding that they are better than what the overall numbers show. Further, the overall Austin market is increasing faster than the Steiner market.
The number of available resale homes at the beginning of October was 76, down from 80 in October 2015, this does not include homes that are under contract. This pattern of fewer homes available will continue for the next month or so as it is a seasonal normality.
Across Steiner, the October sales ranged from a low of $335,000 to a high of $705,000. The average sales price to list price ratio was 98.7%. For homes that closed in October, the average days on market was 33, down 42.1% from last October.
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.