The December episode of How’s the Market in Steiner Ranch is ready for review. The sales stats for November, like October, greatly outpace the 2019 statistics but is the market really as strong as these monthly numbers suggest?
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.
|November 2020||November 2019||Change|
|Number of Homes Sold||22||14||57.1%|
|Median Sales Price||$687,500||$411,250||67.2%|
|Average Sales Price||$674,977||$448,896||50.4%|
|Average Price Per Square Foot||$204.51||$176.03||16.2%|
|Sales Price to List Price Ratio||101.0%||98.4%||2.7%|
|Days on Market||13||42||-69.0%|
|Low Sales Price||$390,000||$349,900|
|High Sales Price||$1,020,000||$700,000|
|01/2020 - 11/2020||01/2019-01/2019||Change|
|Number of Homes Sold||301||260||15.8%|
|Median Sales Price||$576,250||$480,500||19.9%|
|Average Sales Price||$654,959||$559,747||17.0%|
|Average Price Per Square Foot||$191.99||$174.09||10.3%|
|Sales Price to List Price Ratio||99.6%||99.0%||0.6%|
|Days on Market||23||34||-34.3%|
Greetings! I’m Craig Smyser with 1835 Realty. Welcome to the December 2020 edition of “How’s the Market in Steiner Ranch.” Things continue to reach heights we’ve never seen in the neighborhood before, so let’s get right to the numbers.
In November, 22 resale homes closed in Steiner Ranch which was up 57.1% from November 2019. The median price increased a mind-boggling 67.2% to $687,500. The average price of a home increased a staggering 50.4% to $674,977. The average price per square foot increased by 16.2% to $204.51. While the market is leaping forward, it is not as strong as the monthly number make it seem because part of it is based on the distribution of homes that sold in November 2020 versus 2019. So how strong is it really? Well, let’s look at year-to-date stats. The number of resale homes sold during the first eleven months of 2020 is 301, up 15.8% from this time last year. The median price of a home has increased 19.9% to $576,250. That’s a real number, and remember that the median price is the one we quote when talking about real estate prices. In fact, I could easily argue the market is doing better than the 20% we see because included in these stats are sales from the first half of the year but the bigger jump in values has been in the second half of the year. The average price increased by 17.0% to $654,959. The average price per square foot increased 10.3% to $191.99. I know I sound like a broken record recently, but it is a phenomenal time to sell your house if you are leaving the Austin area and heading to an area that has a calmer real estate market. If you want to just move locally, the buying side is certainly harder, but my experience will help you get it done. I’m not saying it will be real easy, but we can do it. And if you think December and January are bad months to sell a home, you are absolutely mistaken. Text/call me at 512-650-7300 to chat further.
The number of available resale homes at the end of November was 5, down 82.8% from last November. If I haven’t already convinced you, it’s a good time to sell. Across Steiner, the November sales ranged from a low of $390,000 to a high of $1,020,000. The average sales price to list price ratio was 101.0%. That’s right – we had 22 homes close last month and on average, they sold for more than asking price. For homes that closed in November, the average days on market was 13, down from 42 last November.
One thing I do want to point out, is that while the number of homes sold in 2020 is higher than last year, the number of homes listed for sale is down. Through November 2020, 320 homes have been put on the market, while a year ago, that number was 327.
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.
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 watching “How’s The Market in Steiner Ranch.”
Statistics based upon information from ACTRIS for the periods cited.