Steiner Ranch Housing Report - July 2016
In this edition of “How’s the Market in Steiner Ranch,” I talk about the June stats and compare the first half of 2016 to that of 2015. 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 July 2016 edition of “How’s the Market in Steiner Ranch.” This month, in addition to the June numbers, we will review the stats for the first half of the year.
In June, 50 resale homes closed in Steiner Ranch which was up 51.5% from June 2015. In fact, that was the highest number of monthly sales since June 2013. The median price decreased 7.0% to $463,250. The average price of a home decreased 14.6% to $502,522. The average price per square foot decreased by 4.9% to $152.34. Continuing a trend that started a few months ago, with a soft upper end market in Steiner, the numbers get a bit distorted because we are comparing to a period in which there were high-end home sales. For example, last June there were two sales over $1 million, one of which was just shy of $2 million. If I exclude those two sales in our comparison, the median price for June would be higher this year. If we look at the first half of 2016 and compare it to the first half of 2015, we can get a better overall view of the market, though it is still affected by the high-end market. The number of homes that sold was 185, up 32.1%. The median price increased 2.2% to $450,000. The average price of a home decreased 5.4% to $495,520. The average price per square foot decreased by 0.1% to $154.48. There were five homes that sold over $1 million in 2015 and only 1 so far this year. If we remove those from our figures, the median price increased by 4.1%, the average price increased 1.8%, and the average price per square foot increased 2.5%.
The number of available resale homes at the beginning of June was 71, down from 100 in June 2015. To be clear, that does not include homes that are under contract. While the numbers of available homes continue to increase over the recent weeks, they are still well below historical numbers for this time of year. We continue to see softness in the higher end of the market with weaker numbers starting around $750,000 and going higher. The entry level market, up to around $450,000 continues to do very well. The mid-market of $450,000 to $700,000 is performing right in between the other two.
Across Steiner, the June sales ranged from a low of $316,000 to a high of $841,000. The average sales price to list price ratio was 99.0%. For homes that closed in June, the average days on market was 44, up 15.8% from last June. Overall, for the first half of the year, the average sales price to list price ratio was 98.7% which was the same as last year. The days on market was down 4.4% from 45 to 43 days.
Overall, the real estate market in Steiner Ranch performed better in the first half of 2016 than in the first half of 2015. The market is starting to weaken a bit as we move across the summer months, but it is still a great market if you are a seller under $700,000 and a good market if you are above that price point.
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.