In this month’s episode of “How’s the Market in Steiner Ranch,” I review the March sales statistics for Steiner Ranch and discuss why I think the sales figures are skewed upward. 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.
|March 2018||March 2017||Change|
|Number of Homes Sold||17||30||-43.3%|
|Median Sales Price||$525,000||$433,000||21.3%|
|Average Sales Price||$554,059||$475,652||16.5%|
|Average Price Per Square Foot||$167.70||$169.61||-1.1%|
|Sales Price to List Price Ratio||99.0%||98.3%||0.7%|
|Days on Market||56||42||33.3%|
|Low Sales Price||$380,000||$346,200|
|High Sales Price||$849,000||$750,000|
|Current Date||Year Ago||Change|
|Number of Homes Sold||106||110||-3.6%|
|Median Sales Price||$491,750||$452,500||8.7%|
|Average Sales Price||$546,727||$558,849||-2.2%|
|Average Price Per Square Foot||$160.80||$167.24||-3.9%|
|Sales Price to List Price Ratio||97.8%||98.2%||-0.4%|
|Days on Market||66||49||34.7%|
Greetings! I’m Craig Smyser with RE/MAX Capital City. Welcome to the April 2018 edition of “How’s the Market in Steiner Ranch.”
In March, 17 resale homes closed in Steiner Ranch which was down 43.3% from March 2017. The median price increased 21.3% to $525,000. The average price of a home increased 16.5% to $554,059. The average price per square foot decreased by 1.1% to $167.70. It is also a good exercise to look at a longer time period to get a more accurate picture of the market. The number of resale homes in the last six months is 106, down 3.6% from the same time period the year prior. The median price of a resale home has increased 8.7% to $491,750. The average price decreased by 2.2% to $546,727. The average price per square foot decreased 3.9% to $160.80. While these longer-term numbers are more realistic, I do think there is still some distortion in them. The homes that have been offered for sale continue to be higher end homes with few entry level Steiner homes available. As such, there is a skewing of the numbers to the higher side.
The number of available resale homes at the beginning of March was 39, down 30.4% from last March. We usually see an inventory increase in March but we are currently still experiencing lower inventory than the past four years. Across Steiner, the March sales ranged from a low of $380,000 to a high of $849,000. The average sales price to list price ratio was 99.0%. For homes that closed in March, the average days on market was 56, up from 42 last March.
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.
The number of homes coming to the market in Steiner Ranch will hopefully be increasing as we move through spring. If you are thinking of selling your home this spring or summer, call me today, I’d love the opportunity to earn your business.
If you have any real estate related questions, please don’t hesitate to call me at 512-650-7300 or email me at Craig@RealEstateInAustin.com. Thanks for reading “How’s The Market in Steiner Ranch.”
Statistics based upon information from ACTRIS for the periods cited.