In February, we only saw 19 new listings come on the market in 78732. This was less than previous years. 9 of those listings are already under contract. Several of them received multiple offers.
January 2023 also saw a reduced number of new listings come on the market. The combined total of January and February new listings was 17.5% less than the same time period in 2022 and 41% less than 2021. This helped our list price to sales price ratios to increase again. The sold price to original list price ratio jumped 4% – from 90% in January to 94% in February.
The sold price to list price (the price at the time it went pending – reduced or not) ratio also rose from 97% to 98%.
We saw a jump in the number of cash buyers as well – a full third of the transactions were purchased without financing!
The number of months of inventory went up a bit to 3.1 months, however it’s worth noting that a lot of the current inventory that is hanging around are very high dollar listings that are not in Steiner Ranch. For example, 12400 Cedar Street, a $35,000,000 listing on Lake Travis – this type of home isn’t going to sell quickly so it can throw off some of the metrics like days on market and months of inventory.
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 [email protected]