Steiner Ranch Housing Report - October 2011

In this edition of How’s the Market in Steiner Ranch?, I review a few of the monthly sales stats, give my interpretation of them, and discuss the impact of the Steiner Ranch fire on the real estate market.

To view summary and detailed information for all Steiner Ranch neighborhoods, check out the Neighborhood Home Sale Data.

If you prefer to read instead of watch, here the transcript:

Transcript

Greetings! I’m Craig Smyser with RE/MAX Capital City. Welcome to the October 2011 edition of “How’s the Market in Steiner Ranch.”

In September, 19 homes closed in Steiner Ranch which was a drop of 32% from the 28 that sold in September 2010. I’m not alarmed, though, as 19 is more in line with sales figures from 2007, 2008, and 2009. None of the 19 sales were distressed sales, meaning either a foreclosure or short sale. Compared to August, the sales were off by almost half. A big drop off from August to September is quite normal in Steiner Ranch.

The average price was down 2.3% from last year while the median was down 9.8%. Personally, I don’t like to compare prices on a monthly basis as they can be too volatile given the smaller data set. If we look at the first 9 months of this year and compare to the first 9 months of last year, the average price is down 2.7% while the median price is up 2.4%. Either way you look at it, it is basically flat compared to last year.

The days on market was a very low 39 days. In fact, that is the second lowest number recorded over the past five years.

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 neighborhood home sale data tab.

 Statistics based upon information from ACTRIS for the periods cited.