The Steiner Ranch real estate market is heating up as we close out 2024. With record-breaking activity, significant buyer demand, and promising trends, this is an exciting time for both buyers and sellers in our community. Here’s a detailed look at the latest market news and statistics.
Pending and Closed Sales Surge
Since November 1st, 27 properties have gone pending—the same number that closed in August, September, and October combined. This marks a record number of $1+ million properties sold in 2024. December is on track to have the most closed sales of any month this year, potentially tripling the sales volume of December 2023.
What’s driving this surge? Good properties have always sold quickly, but now even “okay” properties are finding buyers. This shift is a strong indicator that the market is gaining momentum, making it an excellent time to consider selling.
Limited Inventory in the Luxury Segment
Currently, only five homes are available for sale in the $1.3-$1.75 million range. These properties have an average of 180 days on the market, highlighting the importance of strategic pricing and marketing. If you’re considering selling your luxury home, the pent-up buyer demand and low inventory could work in your favor. Explore our collection of luxury homes for sale to see how your property could stand out.
Mortgage Rates and Buyer Demand
The six major organizations that predict mortgage rates agree: rates will likely remain in the 6% range throughout 2025. This stability could keep buyer activity strong, especially with significant pent-up demand. For sellers, this means the right strategy could result in a successful sale in the coming year.
Detailed Steiner Ranch Market Statistics
Here’s a closer look at how November 2024 compares to November 2023:
| Metric | November 2023 | November 2024 |
|---|---|---|
| Average List Price | $1,003,300 | $1,163,571 |
| Median List Price | $903,000 | $995,000 |
| Average Days on Market | 66 | 56 |
| New Listings | 10 | 7 |
| Close Price to List Price | 98% | 99% |
| Close Price to Original List Price | 92% | 94% |
The data shows higher list prices, faster sales, and stronger close-to-list price ratios. These trends demonstrate growing confidence in the Steiner Ranch market.
What This Means for Sellers
With buyer demand rising and inventory low, sellers are in a strong position heading into 2025. Even properties that may have struggled to sell in the past are now attracting interest. If you’ve been waiting to list your home, now is the time to act. Start by exploring the newest listings in Steiner Ranch to see what’s currently on the market.
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Understanding market trends is key to making informed real estate decisions. Sign up for our monthly market report to stay up to date on the latest Steiner Ranch statistics and insights. Whether you’re buying or selling, knowledge is your best asset.
Your Steiner Ranch Real Estate Partner
The Steiner Ranch market is bustling with opportunity. Whether you’re looking to sell your home or find your dream property, we’re here to guide you every step of the way. Let’s make the most of this dynamic market together.
