Steiner Ranch Housing Report - September 2025 | Austin Texas Real Estate скачать в хорошем качестве

Steiner Ranch Housing Report - September 2025 | Austin Texas Real Estate

Welcome to the September 2025 edition of "How's the Market in Steiner Ranch.” In August, 17 resale homes closed in Steiner Ranch which was up 24% from August 2024. Once again this month, I need to give you a heads up that the price increases aren’t real. I’ll explain in a minute. The median price in August increased 40% to $1,050,000. The average price of a home increased 46% to $1,177,059. The average price per square foot increased by 9.3% to $298.99. So what’s really going on with these numbers? We continue to see strength in the high end market and weakness in the entry level market. Of the 17 sales, 4 of the homes sold for $1.75 million or more with a total of ten selling over $1 million. There were just four sales under $750,000 so both the average and median prices are really skewed. I’m not going to rehash what I said last month, so if you’re interested in why I believe the market is skewed in this manner, watch last month’s video. Now, let’s look at the year-to-date data to see if that gives us a better overall view of the Steiner market. The number of resale homes sold so far in 2025 is 136, up 21% from the first eight months of 2024. The median price of a home has increased 3.3% to $862,500. The average price decreased 0.1% to $1,029,037. The average price per square foot declined 0.2% to $294.06. So this levels out the unusual market balance of the past two months and gives us a better idea of real values. The number of available homes during August was 64, down 4.5% from last August. It’s also down 20% from last month. It’s quite typical at this time of year to see homes removed from the market without selling either because the house was leased or the seller has simply decided to postpone the move. In fact, 18 homes were taken off the market last month. The number of new listings put on the market was 14, up 7.7%. The August sales ranged from a low of $500,000 to a high of $2,300,000. The average sales price to list price ratio was 98.4% and for homes that closed in August, the average days on market was 71 up from 44 last year. The number of homes that went under contract in August was 18, up 64% from last year. There were 39 price reductions in Steiner Ranch last month which is about 61% of the active homes. Last month I talked about the expectations of the Federal Reserve lowering the Fed Funds rate in September. I reminded you that this is not mortgage rates and that mortgage rates more closely align with the 10-year treasury bond. I further noted that while the Fed Funds dropping is certainly positive for mortgage rates, it is not a 1-to-1 correlation. Meaning if the Fed Funds drops by a point, that mortgage rates are not going to drop that much. Now to the new news. The job report came in weaker than expected so expectations of a half point Fed Funds rate drop fueled the market. It also helped tick the 10-year bond rate lower giving us the lowest mortgage rates of the year. But here’s the key point. The Treasury just had a strong auction of 10-year bonds selling bonds at the lowest interest rates since March. I won’t bore you with the details of the auction as I’m sure I’ve already bored many of you with this explanation already, but suffice it to say, it bodes well for mortgage rates. And, if you’re wondering, my college degree is in economics, so I find this stuff interesting. In short, I’m more optimistic about mortgage rates now than I’ve been in a few years. No, we’re not going to the 3s and 4s, but prospects of the 5s are looking really good. If you have any real estate related questions, please don’t hesitate to call or text me at 512-650-7300 or email me at Craig@RealEstateInAustin.com. Thanks for watching “How’s The Market in Steiner Ranch.” Craig Smyser, Fiv Realty 512-650-7300 http://www.RealEstateInAustin.com