The December edition of How's the Market in Steiner Ranch is available. In it, I review the November sales statistics and compare the year to date stats to get a better overall look of the Steiner Ranch market. Craig Smyser, 1835 Realty
512-650-7300
Craig@RealEstateInAustin.com
www.RealEstateInAustin.com
Greetings! I'm Craig Smyser with 1835 Realty. Welcome to the December 2019 edition of "How's the Market in Steiner Ranch."
Before we get started with this month’s numbers, I want to let you know I am sponsoring a People’s Choice award for the best Christmas light display in Steiner Ranch. This means that you get the chance to determine the best lights in the neighborhood. For more information, visit the Discover Steiner Ranch group on Facebook.
Now to the numbers. In November, 13 resale homes closed in Steiner Ranch which was the same as November 2018. The median price decreased 8.1% to $402,500. The average price of a home decreased 5.6% to $451,119. The average price per square foot increased by 8.9% to $172.73. I don’t care much for one month’s worth of stats – especially when there are only 13 sales so let’s take a look at the year-to-date sales data to get a better overview of the market. The number of resale homes that sold so far in 2019 is 258, down 3.0% from last year. The median price of a resale home has decreased 6.3% to $482,250. The average price decreased by 5.2% to $561,000. The average price per square foot increased 4.1% to $173.70. After trying to tell the story differently every month for almost a year, I think I’ve simply run out of ways to say that I don’t believe prices are actually falling in Steiner, but that the statistical decline is just a function of the types of homes that have sold. Last year we had a larger than usual number of higher-end homes sell compared to what we typically see. This year has been a more typical year. As a result, last year’s unusually high numbers get compared to this year’s typical sales and the comparison results in the appearance of lower prices. A little bit of smoke and mirrors, if you will.
The number of available resale homes at the end of November was 29, down 21.6% from last November. As we head into the traditionally slower real estate selling season, remember that homes sell all year long and the timing of when you should sell has more to do with your personal circumstances than it does trying to time the market.
Across Steiner, the November sales ranged from a low of $349,900 to a high of $700,000. The average sales price to list price ratio was 98.3%. For homes that closed in November, the average days on market was 43, down from 56 last November. As you can see, even though prices show a decline, the market is tight with homes selling quickly and for a high percentage of their list price.
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.”
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