The San Antonio residential real estate market is exceptionally active this holiday season!
Early December is typically the low season for realty activity in and around the Alamo city, but this year it's remarkably different.
Many factors are contributing to the unusually active market.
First, because of the area's high employment rate, population growth, and
better than average home prices, San Antonio is viewed as one of the top 10
large metropolitan markets for both home buyers and sellers.
Second, mortgage rates remain historically low and lenders are aggressively
seeking qualified home buyers.
Third, there are positive signs suggesting the national economy is experiencing
a slow, but relatively steady recovery. That factor alone is bringing more
buyers than usual into the market this December.
Forth, the nearby Eagle Ford Shale oil play is spurring housing demand for
thousands of oil and gas production workers and their families.
Those factors are generating a very healthy residential sales environment
wherein reasonably priced and well prepared resale homes are selling
exceptionally well and new home builders are responding to better conditions by bringing more new homes into production.
For those who love stats, here are the key indicators for San Antonio's single
family detached home listings as of 7 December 2011.
There are 10,401 homes for sale compared to 11,694 one year ago. The inventory is exceptionally low, is trending steadily downward, and has drifted
into the 6 months supply range, reflecting a balanced market (a condition not
seen in San Antonio for many years). A balanced market favors neither buyers
nor sellers.
The average sales price for the most recent closings is $176,003 compared to
last year's $193,701. That's an unreliable indicator because the large number
of lower priced properties sold in 2009 & 2010 under the Federal tax
incentive programs temporarily depleted the lower priced home market. An
analysis of longer term data indicates the absence of any significant sales
price appreciation since 2007. That's a good sign for buyers.
Early December is typically the low season for realty activity in and around the Alamo city, but this year it's remarkably different.
Many factors are contributing to the unusually active market.
First, because of the area's high employment rate, population growth, and
better than average home prices, San Antonio is viewed as one of the top 10
large metropolitan markets for both home buyers and sellers.
Second, mortgage rates remain historically low and lenders are aggressively
seeking qualified home buyers.
Third, there are positive signs suggesting the national economy is experiencing
a slow, but relatively steady recovery. That factor alone is bringing more
buyers than usual into the market this December.
Forth, the nearby Eagle Ford Shale oil play is spurring housing demand for
thousands of oil and gas production workers and their families.
Those factors are generating a very healthy residential sales environment
wherein reasonably priced and well prepared resale homes are selling
exceptionally well and new home builders are responding to better conditions by bringing more new homes into production.
For those who love stats, here are the key indicators for San Antonio's single
family detached home listings as of 7 December 2011.
There are 10,401 homes for sale compared to 11,694 one year ago. The inventory is exceptionally low, is trending steadily downward, and has drifted
into the 6 months supply range, reflecting a balanced market (a condition not
seen in San Antonio for many years). A balanced market favors neither buyers
nor sellers.
The average sales price for the most recent closings is $176,003 compared to
last year's $193,701. That's an unreliable indicator because the large number
of lower priced properties sold in 2009 & 2010 under the Federal tax
incentive programs temporarily depleted the lower priced home market. An
analysis of longer term data indicates the absence of any significant sales
price appreciation since 2007. That's a good sign for buyers.
Average cumulative-days-on-the-market (CDOM) for the most recent sales is 139 compared to 144 last year. A continuing downward trend is expected. That's apositive sign for home sellers and the San Antonio realty market generally.
Industry analysts see these data as reflecting a housing market slightly
favoring seller's over buyers.
That's all for our December, 2011, San Antonio realty market report.
We encourage reader comments and recommendations about how to make our reports more informative and useful.
Wishing you a merry Christmas and Happy New, we're Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas. If you have questions, need San Antonio realty or mortgage loan advice or assistance, are looking to buy or sell a San Antonio home, or just want to chat a bit about the wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (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.
Wishing you a merry Christmas and Happy New, we're Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas. If you have questions, need San Antonio realty or mortgage loan advice or assistance, are looking to buy or sell a San Antonio home, or just want to chat a bit about the wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (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.
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