Steiner Ranch Housing Report - October 2015
In this edition of “How’s the Market in Steiner Ranch,” I talk about the September stats and look at how 2015 compares to 2014, so far. 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 October 2015 edition of “How’s the Market in Steiner Ranch.”
In September, 29 resale homes closed in Steiner Ranch which was up 3.6% from September 2014. The median price increased 10.9% to $432,500. While that is a big jump from last year, the reality is that the sales figures from September 2014 were an interesting mix and this increase is more a reflection of last year’s anomalies and not strength this year. The average price of a home decreased 22.5% to $504,922. Again, last year in September was one of Steiner’s highest sales ever at $4.7 million so that skews the comparison on the average price. It also affects the average price per square foot as it decreased by 12.5% to $143.72. Clearly, the September figures should be taken with a grain of salt. This is precisely 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 9 months of information. The number of homes sold so far in 2015 is 236, down 13.2% from the same time period in 2014. The median price of a resale home increased 2.0% to $448,000. The average price increased by 4.7% to $533,254. The average price per square foot increased by 2.1% to $154.03. In real estate, the median price is the key pricing indicator and Steiner Ranch is lagging the overall Austin market in this measure. The situation this year continues to be a soft mid-range market in Steiner which is holding down overall prices.
The number of available resale homes at the beginning of September was 88, up 14.9% from last September. 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 September sales ranged from a low of $288,000 to a high of $899,900. The average sales price to list price ratio was 97.5% for homes that closed in September, the average days on market was 71, up 65% from last September.
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.
I wanted to mention quickly that while I don’t provide leasing data on a monthly basis, I do help landlords find tenants for their Steiner Ranch properties. If you own an investment property in Steiner and want to hire a real estate broker, please contact me and I’ll be happy to help you.
Finally, the Steiner Ranch Trunk or Treat is scheduled for Sunday, October 25th from 4:00 to 6:00. I’ll be there spinning cotton candy so stop by. I will also bring the cotton candy machine out to Steiner Ranch Elementary School for their State Fair on Friday October 30th from 4:30 to 7:30.
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.