New Listings and Inventory:
In January 2025, the Steiner Ranch neighborhood saw a whopping 29 new listings, more than double than the number in February 2024. All of these new listings caused the “months of inventory” metric to almost double, going from 2 to 3.75. This implies that at the current sales rate observed over the last six months, it would take approximately 3.75 months to sell.
Days on Market:
The average days on market for current active listings has reached 97 days, emphasizing the importance of pricing a property correctly from the beginning. However, properties that are under contract now had a shorter average of 61 days on the market, indicating that well-priced homes are moving faster, reinforcing the significance of accurate pricing in the selling process.
Sale Price Ratios:
One of the most noteworthy aspects of the February 2025 market was the sale price to original list price ratio, which was only 97%, while the sale price to current list price ratio, was 93%. Both of these numbers are identical to the previous month. This again highlights a crucial lesson for sellers – correctly priced homes sell, and the market is willing to pay the asking price when the value is justified. These ratios indicate that the Steiner Ranch market rewards appropriately priced properties, showcasing the expertise of seasoned real estate agents in navigating changing market conditions.
Rental Market:
The rental sector remains steady. A lot of the inventory that was sitting on the market leased in the past month. The average time to lease (days on market) for properties leased in February was a whopping 85 days, however the average price per square foot rose from January to $1.25.
In Conclusion:
The Steiner Ranch real estate market in February 2025 reflects a shifting landscape with increased inventory, longer days on market, and the continued importance of strategic pricing. With new listings surging and months of inventory nearly doubling, buyers have more options, making proper home pricing essential for a successful sale. The stark contrast between the 97-day average days on market for active listings and the 61-day average for pending properties further reinforces the need for accurate pricing from the start. Additionally, the sale price to original list price ratio holding steady at 97% underscores that well-priced homes are selling close to their asking price, while overpricing leads to larger price reductions. Meanwhile, the rental market has shown resilience, with leasing activity picking up despite longer market times, and rental prices per square foot increasing. As Steiner Ranch navigates these changes, sellers must remain adaptable, while buyers may find increased opportunities in a growing inventory.
As we move forward, these insights provide valuable knowledge for both buyers and sellers, emphasizing the importance of informed decision-making. If you’re considering buying or selling a property in Steiner Ranch, it’s crucial to work with an experienced professional who understand the nuances of the local market. For any questions about Steiner Ranch or real estate in general, feel free to reach out at (512) 657-7510 or email me at Elicia@SteinerRanchinfo.com
