Santa Rita Ranch: Entry-Level Homes and Affordability in September

What does it take to enter the Santa Rita Ranch market today? The median price for entry-level homes—defined here as the bottom quartile of recent sales—reached $560,000 in September. This figure represents a 16.2% increase compared to the same month last year, driven by strong demand and limited supply in this specific tier. ALEX Intelligence analyzed the payment implications for these buyers using current financing data. With a median sale price of $560,000 and a prevailing mortgage rate of 7.24%, a typical buyer faces a principal and interest payment of $3,053 per month. To make this more accessible, some sellers are offering buydowns. A standard 3-2-1 buydown would lower the initial rate to 4.24% for the first year, reducing the monthly payment by $852, though it costs approximately $20,772 in total fees. The market dynamics show a distinct shift toward new construction. Of the 35 closed sales this month, 32 were newly built homes, indicating that entry-level inventory is almost exclusively fresh builds. While the median price per square foot rose 5.7% year-over-year to $204, the average home size also grew by 11.3%, suggesting buyers are paying for larger floor plans rather than just higher prices per unit. Despite the rising costs, sales volume remains resilient with 35 closings in September, up 16.2% from the previous month and significantly higher than the 2024 baseline. However, the time to sell has lengthened; homes now sit on the market for a median of 94 days, which is 4.4% longer than last month but still 24.2% faster than the same period in 2025. For buyers targeting this tier, affordability remains the primary constraint. The combination of higher prices and elevated interest rates means that while entry-level homes are available, the monthly carrying cost has increased substantially compared to historical norms. Want a closer look? Reply or call George at 713.918.9951 and we'll set up a showing. Data from Unlock MLS. Information deemed reliable but not guaranteed. Model outputs are ALEX Intelligence estimates, not appraisals. Read more Central Texas market data on the ALEX blog: https://alex-companies.com/blog