May 2013 San Antonio Residential Realty Market Report

The sanantoniohomequest.com Realty Solutions has published its May 2013 San Antonio Realty Market Report.

You can read the full report at the SanAntonioHomeQuest.com homepage, but here are the highlights:

San Antonio's residential realty market has been in high gear for 9 successive months.

Compared to May 2012:

The inventory of homes for sale is down 12.94%.

The average list price is up 8.75%.

The average days on the market for listed homes is down 8.6%.

The number of homes under contract is up 12.55%.

For the most recent homes sold:

Average sales price is up 5%

Average days on the market is down 17.52%.

There's only a 5.3 months supply of homes for sale.  That means it's a strong sellers' market.

Demand for homes is exceptionally strong this year because of low mortgage rates, highly favorable local business and demographic conditions, and the availability of money and manpower brought into the area by the nearby Eagle Ford Shale oil play.

The news is obviously good for local home sellers, however the market remains favorable for buyers  because San Antonio area homes are still highly affordable, particularly given the current low home mortgage interest rates.

This

May 2013 San Antonio Realty Market Report is brought to you by Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas.

Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs. 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).