Steiner Ranch Real Estate Market Update: Nov. 2011

Whether you are a Buyer or a Seller in Steiner Ranch today, the market is showing positive trends in your favor. The past couple of years in Steiner have been a little flat, if not a little down, but this year is proving that Steiner is on the rebound--and frankly, I am not surprised. When the market is going up, both buyer and seller enjoy the privileges of the Steiner life style and home ownership.

Steiner Ranch is one of Austin's premier master planned communities. Steiner has something to offer to every potential home owner:

• Great lake access (Lake Austin and Lake Travis)
• Outstanding schools--located in the community
• The best combination of amenities of any Austin area community
• Pools, tennis courts, play grounds, soccer fields, baseball fields through out the community and private access to Lake Austin boat launch, dock and pavilion for all residents. And then there is the preserve--grand views and over 18 miles of hike and bike trails to round out a active Austin life-style.
• UT Golf course
• Gated and Open communities from $200's to $3M
  
• A great community, great neighbors, and much to offer!

Now to the numbers:

Sold during the previous 90 day rolling quarter (Sept, Oct., Nov) 2011:

• 67* homes sold between Sept. 1st and Nov. 30th
• Median sold price: $396,000
• Median days on market: 43 days
• Most expensive home sold: $860,000
• Homes sold during same period in 2010: 65
• 2011 over 2010--some positive indicators emerging:
• Almost $50,000 increase in 2011 median home values
• Median homes sold 11 days faster in 2011 
• PPSF is going up slow and steady, about $4-5 psf higher in 2011
• Consumption rate puts inventory levels at just under 4 months

Active Listings:

• Currently active listings: 80 homes 
• That's approximately 4 months of inventory
• Inventory levels favor the seller currently--A Seller's Market
• Current homes under contract: 31
• Median home list price: $477,400
• Median home features:  3514 sf, 4 Bedrooms, 3 baths
• Median Days on Market for Active Homes:  82 days
• Median Days on Market for Pending Contracts:  55 days
• Homes that are priced right and show well are going under contract faster than homes still on the market
• In this market, Sellers are not seriously considering low-ball offers on homes that show well and homes that are priced to market
• Too Low offer prices are being considered as non-serious buyers
• Inventory is low and homes are still selling during "off season"

Note: Having a Seller's Market does not mean that Seller's can have their way and sell homes above market value, but it does mean that given low inventory levels, buyers are going to move faster to buy homes that show well and are priced to market. It also means that buyers are much more likely to get into bidding contests over the homes that they really like and homes are more likely to sell at or near their listing price. Lastly, in a market that is bent toward the seller, buyers find that desirable houses come-on and go-off of the market at a much faster and unpredictable pace.  Here today, gone tonight. 

If you are considering buying a home in Steiner Ranch or Selling your home in Steiner--please do give me a call so we can discuss your Real Estate needs. 

Let's Talk.