Steiner Ranch Housing Report - September 2014

In this edition of How’s the Market in Steiner Ranch, I review the August stats and the nice rebound from July. 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:

Transcript

Greetings! I’m Craig Smyser. Welcome to the September 2014 edition of “How’s the Market in Steiner Ranch.”

In August, 44 homes closed in Steiner Ranch which was down 6.4% from August 2013. There were no new construction sales, but since many new construction sales are not listed in the MLS, I can’t provide accurate data on the new sales. When looking at resale homes only, the 44 sales represents a drop of 4.4% from last August. From this point forward, all the stats quoted are for resale homes only. The average price of a resale home increased 4.9% to $484,334. The median price increased by 16.1% to $469,450. The average price per square foot increased by 6.8% to $147.87. Because one month is a small data set which can subject to volatility, I prefer to look at longer periods of time. So let’s compare the prices from the past six months to the corresponding six-month period in 2013. The average price of a resale home increased 3.3% to $492,127. The median price increased by 6.8% to $440,000. The average price per square foot increased by 8.5% to $150.33. In July, we saw a notable drop in both sales and prices. I said at the time I didn’t see that it was a long term trend, but that I would continue to watch it. These figures clearly indicate it was not the start of something long term.

The number of available resale homes in August was 92 which was the same as the prior year. Across Steiner, the August sales ranged from a low of $285,100 to a high of $1,036,800. The average sales price to list price ratio was 98.4%. For homes that closed in August, the average days on market was 40.

Overall, we currently have a 2.0 month supply of homes in Steiner Ranch, which is certainly a seller’s market. This level is lower than last month and all price ranges are now statistically a seller’s market. I expect we will see these numbers begin to increase for homes over $600,000 but remain extremely strong for homes that threshold. Regardless of your price point, I can sell your house this fall. So if you are thinking of moving, please contact me soon.

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.