August 2011 San Antonio Realty Market Report

2011's very hot and very-very dry San Antonio July has passed.

Because of South Texas' drastic drought, we're lucky the Alamo City can still claim its River City nickname. But tourists and natives need not fear, the San Antonio River is flowing well and the famous River Walk is open for business as usual.

Has the area's unusually arid summer cooked its realty market. Not at all. In fact, compared to the preceding summer seasons, July's closed home sales and August's pending sales reflect a relatively active real estate market for San Antonio and the surrounding communities.

August usually heralds the end of realty high season around here and, based on many years experience, home buyers and sellers can expect to see a cooler, more casual, and less aggressive low season for new and resale home sales.

Will the coming fall and winter season see the market continuing many months of favoring home buyers over sellers?

Perhaps not, because there are increasingly strong indications that the market is drifting toward a more balanced condition.

Specifically, the homes for sale inventory has decreased markedly. That means less competition for sellers and fewer opportunities for buyers.

Also, 2011 has seen the return of the area's typical 2% to 3% home value appreciation rate. That means sellers are less likely to consider low ball offers and more likely to expect a sales price that's closer to their asking price. Consequently, in the near term, buyers can expect to encounter less seller flexibility and harder negotiations.

Clearly, San Antonio has weathered the late great recession very well. The area's past economic and demographic trends and its long term projections reflect a large and vibrant metropolitan area with a strong, stable, and growth oriented personality.

The Alamo City area realty market is expected to follow suit.

That's all for our August 2011 San Antonio realty market report. We encourage reader comments and recommendations about how to make our reports more informative and useful.

We're Stephanie and Randy Kelley, Realtors® of Keller Williams Legacy, San Antonio, Texas. If you have questions, need San Antonio area realty or mortgage loan advice or assistance, or just want to chat a bit about the wonderful Alamo City, please call us at (210) 863-2661 or (210) 867-8743, 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 and selling needs.