April saw a 20% decrease in the number of new listings when compared to April 2024. When comparing the number of properties that went under contract in the same periods, we saw a corresponding 22% decrease.
With the new listings outpacing the number of pendings, we did see a slight rise in the months of inventory metric, however the sales price to current list price ratio stayed the same at 98%.
The sales price to original list price, however, went down a bit to 94%. These properties that sold at such a low ratio had an average DOM (days on market) of 142 days! The average DOM for the current listings in 78732 is 77 days. The key takeaway here is that propery priced homes will sell faster! It should be noted tht 7 of the 24 properties that sold in April sold at or above their current list price.
When we look at all of these numbers together, it gives a pretty good picture of what’s going on in our market. There is healthy demand for well priced properties.
There are so many factors that go into a property being overpriced. The biggest one I see is agents’ lack of understanding of the nuances of Steiner Ranch. We are a large community with dozens of diverse neighborhoods with huge variations in views, lot sizes, lot types (sloping, flat, etc…), views, proximity to schools and amenities, ages, etc… and the average agent just doesn’t know how to interpret the data they are seeing in the MLS. It takes years of viewing properties and stats and hundreds of conversations with local buyers and sellers to truly understand a market. Choose your agent wisely! And as a reminder, I’ve represented over 300 buyers, sellers and tenants in Steiner Ranch over the last 18 years and I’d be honored to interview for the job of selling your Steiner Ranch home or helping you purchase in my favorite neighborhood in Austin!
As always, if I can help you buy or sell or just answer any questions about Steiner Ranch or the Steiner Ranch market, don’t hesitate to give me a call at (512) 657-7510 or email me at Elicia@SteinerRanchinfo.com
