Steiner Ranch Real Estate Market January 2022

This is a shorter update than usual because we only had SIX closings in 78732 in January. New listings were down also. We had 31% less listings this January than last year. This is causing listings that are coming on the market to get 10+ offers again and they are going for a considerable amount over asking price (if they are not overpriced).

Listings that closed in January saw a decrease in the sales price to original list price ratio –down to 97% from 101% in December 2021, but this was due to several of the properties that closed having been owned by Open Door or Zillow. This number will jump when we look at February and March closings. Half of the sales in 78732 went to cash buyers – the highest percentage since I started tracking in 2018.

I haven’t reported much in my monthly updates about the Steiner Ranch rental market but it is finally catching up with the sales market. For years our rental rates stayed around $1 per square foot while the sales prices were consistently going up. We saw about a 10% reduction in the number of available rentals in 2021 which pushed prices up from an average price of $1.11 per SF in 2020 to $1.29 in 2021.

If you missed my full review of the 2021 market, you can view it here.

I have multiple very well qualified and motivated buyers looking in all price points in Steiner Ranch, if you are considering selling or know of someone who is, please let me know!