Monday, May 28, 2012

San Antonio Called Bright Spot In National Housing Sector

If you're looking to buy or sell an San Antonio home, please visit us at sanantoniohomequest.com.

NOW, HERE'S THE NEWS

According to a recent artice by Tricia Lynn Silva in the San Antonio Business Journal "San Antonio's housing market showed impressive gains in April according to the San Antonio Board of Realtors (SABOR)."

With an average home price of $193,560 and an 8% home price increase from April 2011, the Alamo City  is cited as a shining example of a strong realty market.

Other key indicators are a 7 percent increase in the median home price compared to April last year - from $147,300 to $157,400.

FNC Inc. - a real estate information technology company - is cited in Tricia's article.  FNC tracks price trends in the nation's 100 largest realty markets.  According to FNC, only two of the markets have markedly improved since 2007.  They are Houston and San Antonio.

The intensity of this year's aggressive market condition is evidenced by reports of multiple simultaneous offers for better listings, slower processing times for loans, and competition at the title companies for the best closing appointment times.

How long will San Antonio's really hot realty market last is anybody's guess, but, typically, the area's realty sales high season is over by the 4th of July.  If the current trend continues, the exceptionally active sales season may last into the fall months.

Tuesday, May 08, 2012

MAY 2012 SAN ANTONIO RESIDENTIAL REALTY MARKET REPORT

If you're looking for San Antonio area homes for sale or need advice and assistance with the best way to buy or sell a San Antonio area home, visit us at sanantoniohomequest.com.

Now, here is our May 2012 residential real estate market report for San Antonio, Bexar County, Bulverde, the San Antonio military base areas and the counties around Bexar County.

As we enter May 2012, there’s little need to elaborate on San Antonio’s excellent residential realty market. Many factors have converged to cause what looks like an unusually early peak home selling season. The local and regional economies are being strongly driven upward by the nearby Eagle Ford Shale Oil Boom, tourism and the region's vibrant service and medical industries. Population growth is high and, after being relatively flat during the late Great Recession, home values in most neighborhoods are rising.

Home sellers have responded accordingly as evidenced by a gradual upward creep in the asking price for homes for sale.

Buyer response has been exceptionally good so far, especially for lower to moderately priced homes.

Most realty industry analysts agree that San Antonio’s current home sales environment is much better than last year’s relatively tepid atmosphere.  If current trends continue, it will be hard to avoid characterizing his year’s realty market as vibrant.

For those who love stats, here are the key indicators for San Antonio's single family detached home listings as of 8 May 2012.

There are 10,445 active listings, compared to 12,068 one year ago. The inventory is slowly increasing, but not as rapidly as one would expect for the season. That’s a good sign for sellers.

The average sales price for the most recent closings is $193,016, compared to last year's $180,957. The increase in average sales price is a good sign for sellers.

Average cumulative-days-on-the-market (CDOM) for the most recent sales is 139 compared to 144 last year. Decreasing CDOM is positive for San Antonio home sellers.

Industry analysts see these data as reflecting a housing market slightly favoring sellers over buyers.

That's all for our May 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® at Keller Williams Legacy, San Antonio, Texas.

If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to chat a bit about our 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.