Steiner Ranch Housing Report - September 2020

The September housing report, How's the Market in Steiner Ranch is now available. As usual, we’ll talk about the monthly stats as well as the year-to-date sales figures. Despite remarkably low inventory levels, sales and prices are on the rise.

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 is the transcript.

Greetings!  I'm Craig Smyser with 1835 Realty.  Welcome to the September 2020 edition of "How's the Market in Steiner Ranch."  The market just continues to get stronger for sellers.

In August, 34 resale homes closed in Steiner Ranch which was up 17.2% from August 2019.  The median price increased 36.4% to $644,000.  The average price of a home increased 19.9% to $710,944.  The average price per square foot increased by 11.9% to $197.34.  I always say it is better to look a longer time period to get a more accurate picture of the market, but I want to alter things a bit this time.  While that is most definitely true, with prices moving as fast as they are right now, the monthly numbers can help us isolate this trend without mixing in prices from 6 months ago.  While  prices haven’t jumped by 1/3 over the last year, they are rising faster in Steiner than I’ve ever seen.  The number of resale homes sold during the first eight months of 2020 is 219, up 5.8% from this time last year.  The median price of a resale home has increased 10.4% to $565,000.  The average price increased by 13.0% to $652,108.  The average price per square foot increased 8.4% to $189.67.  While part of this strong increase is based upon the distribution of homes listed skewing towards the higher end this year, that is just a part – it really is the supply and demand pushing prices up right now.

The number for September closings will be strong, too.   The number of homes in Steiner Ranch that accepted an offer in August was 37 up from 17 in August 2019.  As I record this, there are 36 homes waiting to close.  Of course, only some of them will close in September, but I am quite certain we will surpass the September 2019 number.

If you own a home in Steiner and have considered selling it, I cannot imagine a better time to do so.  If your personal situation doesn’t fit to sell right now, I get that.  I’m talking to those who can sell now – the market really is the best I’ve seen for sellers in Steiner Ranch.  Yes, it’s easy to sell now a home now, but you need someone who knows how to position your home to get you the absolute maximum price and terms.  Just taking a few photos and popping it in the MLS will get the job done, but won’t get you the best results possible.  And forget about heading into the fall and what is usually a slower market.  Interest rates are rock bottom and there are a ton of buyers who wanted to buy homes this summer but there wasn’t enough available.  I’m not one to exaggerate or prone to hyperbole so I’ll just reiterate again, that if you’ve pondered a move, contact me yesterday.

The number of available resale homes at the end of August was 15, down 71.7% from last August.  Across Steiner, the August sales ranged from a low of $330,000 to a high of $2,069,000.   The average sales price to list price ratio was 100.4% - that is a monstrous number, my friends.  For homes that closed in August, the average days on market was 20, down from 32 last August.

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.

Discover Austin Eats is something I’ve put together that brings, locally-owned restaurants to the neighborhood.  The Peached Tortilla, Tacodeli, Via 313 Pizza, and Casey’s Snowballs are a few that have already been out.  On September 16^th, Interstellar BBQ is on the menu.  If you’d like more information, join the Discover Steiner Ranch group on Facebook or simply contact me.

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.