Despite the recent national economic downturn, San Antonio's realty market hasn't suffered significantly - just slowed.
Now, as our annual Fiesta celebration heralds the typically faster spring and early summer realty sales season, residential listing and sales activity is picking up.
Available home inventory is ample. In most neighborhoods, homes for sale list prices are stable and very comparable to last year's prices.
The indicators all point to the Alamo City's slower market having bottomed out and heading into a much more active phase for many months to come.
Foreclosure activity is moderate. Buyers have been actively seeking out bargains, particularly in the relatively large inventory of lender owned foreclosed properties.
Investor interest is also picking up significantly. San Antonio has always held high potential for diligent realty investors who know what they're doing.
So, why should realty investors consider San Antonio? The answer is evident.
In and around San Antonio, prices for good to excellent properties are generally low compared to other big cities. There is an ample supply of skilled tradesmen for home renovation and refurbishing projects. Materials are readily available and reasonably priced.
On the down side, home owners and rental and resale investors must be willing to accept relatively high property taxes, a low average home price appreciation rate, and, compared to other large cities, a longer than average holding period to make a profit.
All things considered, such down factors are more than offset by San Antonio's consistently stable economic condition, realty market stability, and steady growth.
So, who has the advantage in San Antonio's current realty market?
Industry analysts agree that the data reflect a market strongly favoring buyers over sellers. As for sellers, the advantage goes to the home seller most willing to reduce his or her price expectations and expend the money, time, and effort to improve the property's condition and appearance.
That's all for our April 2011 San Antonio realty market report.
We're Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas. If you need San Antonio realty or mortgage loan advice or assistance, or just want to chat, please call us at (210) 863-2661 for Randy, or (210) 867-8763 for Stephanie, or email us at
swkrealtor@aol.com, or
kelleybus@aol.com.
Our
SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs.
