March 2014 San Antonio Home Sales Report

If you're considering buying or selling a San Antonio metropolitan area home this year, keep this in mind.

In March 2014, there are too few new and resale homes on the market and there are too many buyers looking for a home to buy.  Consequently, competition for available homes is keen, home prices are rising, and home sellers have the advantage over buyers when it comes to negotiating the price, terms, and conditions for selling their homes.

But, there are changes in the wind.

Although, for the time being, the market favors sellers over buyers, there are signs that there is a correction underway.

Why?

A major factor is the fact that more San Antonio area residents feel they can afford to sell their homes because, due to rapidly rising home values, home owners are now in a positive equity situation (meaning they owe significantly less on their mortgages their their homes are worth).  

Another factor is simply market timing.  March and April are strong home sales months in the San Antonio area.

So, during the first week of March, new listings have increased dramatically and the supply of available homes is gradually but steadily creeping upward.  If the trend continues, the average home seller's advantage will likely weaken as the home sales market  becomes balanced.

The bottom line is this.

Following on the heals of the highly successful 2013 home sales year, San Antonio has all of the right economic conditions for a vibrant spring and summer 2014 residential sales market.
 
The nearby Eagle Ford Shale oil/gas boom is a highly significant factor, especially for home sales in the neighborhoods nearest the oil and gas fields south of San Antonio and Bexar County.

Also, San Antonio homes remain highly affordable and mortgage interest rates are exceptionally low for well qualified home buyers.

In summary, here is our advice for buyers and sellers in this March’s San Antonio home sales market. Don't delay. Act now to take advantage of this month's strong market.

That’s all for our March 2014 San Antonio bases area realty market report.

We encourage reader commends and recommendations about how to make our reports more informative and useful.

Please visit our sanantoniohomequest.com website for more information and access to our highly rated San Antonio homes for sale search engine.

If you have questions, need San Antonio realty or mortgage loan advice and assistance, or just want to chat a bit about the Alamo City area, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie).

We’re Randy and Stephanie Kelley, Realtors ® at Keller Williams Legacy, San Antonio, Texas.

Our never ending goal is to help you get the best price, terms, and conditions for your residential realty investment.

San Antonio Area Creole Style Dining

If you're looking to buy or sell a San Antonio area home, visit sanantoniohomequest.com or call Randy (210) 863-2661 or Stephanie (210) 867-8743.  Randy and Stephanie Kelley are Realtors® at Keller Williams Legacy, San Antonio, Texas.   Now, here's the latest from one of the San Antonio area's finest Creole style restaurants. Dear Friends, This weekend we have some delicious specials including Carrot Curry Soup and Asian Style Seared Ahi Tuna. Join us Saturday evening beginning at 6pm to hear Victoria Celestine perform live. It’s not too early to start planning your graduation parties. We offer full-service, upscale catering featuring a blend of traditional Creole items infused with Texas flavors. Click here to learn more about Chef Mike's Nouvelle Catering. Bon Appétit, Chef Mike PS - Check out our special 3 course meal available on Wednesday and Thursday from 5pm until 6pm. You get your choice of a salad, entree and dessert. Click here to view the menu.

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A Two Month Supply Of Available Houses In San Antonio

A few weeks back, we predicted that San Antonio's inventory of available homes for sale could soon fall into the two months range.  Briefly, last week, the supply of San Antonio homes on the market and not already under contract fell to 2.99 months.   That's not a lot of houses for buyers to select from in a metropolitan area as large as San Antonio.

Will the low home supply last?  It remains to be seen, but it could happen because an unusually small number of new listings are coming on the market for this time of the year.

The continuing  imbalance between San Antonio's inventory of available homes and the number of buyers looking for San Antonio homes for sale means the area's late winter/early spring residential market will strongly favor home sellers and the most attractive homes will sell very quickly.

Consequently, San Antonio buyers looking to purchase a new or resale home this year are strongly advised not to delay their search much longer because, by summer 2014, home prices in the San Antonio area are likely to be 10 or more percent higher than in 2013.

If you are a San Antonio home buyer or seller needing expert realty consultative and representation services, please visit our sanantoniohomequest.com website or call Randy Kelley at (210) 863-2661 or Stephanie Kelley at (210) 867-8743.  We are Realtors®  at Keller Williams Legacy, San Antonio, Texas. Our never ending  goal is to help you get the best price, terms, and conditions for your residential realty investment.

February 2014 San Antonio Home Sales Report

It's hard to argue with the numbers and, everywhere we look, the numbers are significantly up for San Antonio's economy and it new and resale home sales market.

Why not?

The Alamo City is located at the front gate of the highly lucrative and rapidly growing Eagle Ford shale oil and natural gas field.

The entire San Antonio metropolitan area is attracting a diverse mix of new homegrown and relocating businesses.

The area has one of the lowest large metropolitan area unemployment rates in the nation.

Population growth is steady and well supported by the local economy and the area's health, private industry, and governmental services infrastructures.

So, what does so much favorable economic news mean for San Antonio area home buyers and sellers?

Here are the facts as of 3 February 2014:

Reasonably priced and well prepared resale homes are selling exceptionally fast 

and new home builders are putting new inventory into production as quickly as possible.

There are 7847 new and resale homes listed for sale compared to 8520 one year ago.

The listings inventory is exceptionally low but will likely trend slowly upward as late winter/early spring listings are brought to market.  Nonethless, for the time being, the market has drifted downward into the 4 months supply range, reflecting a highly unbalanced market favoring sellers over buyers.

The average sales price for the most recent closings is $195,484 compared to last February's $183,834.  

Both list and sales prices are steadily rising - a trend likely to continue through the higher paced late winter/spring/early summer home sales high season.

Although industry analysts see these data as reflecting a strong seller's market, home buyers can take heart in knowing that San Antonio homes are still reasonably priced and highly affordable when compared to homes in the Nation's other large metropolitan markets.

That's all for our February 2014 San Antonio home sales report.

We encourage reader comments and recommendations about how to make our reports more informative and useful.

Please visit our recently redesigned sanantoniohomequest.com website and, if you have questions, need San Antonio realty or mortgage loan advice and assistance, or just want to talk about the San Antonio and the surrounding communities, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie).  

Remember, our never ending goal is to help you get the best price, terms, and conditions for your residential realty investment.

Best Restaurants In San Antonio

LOOKING TO BUY OR SELL A SAN ANTONIO, TEXAS, HOME, VISIT SANANTONIOHOMEQUEST.COM.

Now, here's the latest news from one of the best restaurants in San Antonio.

Dear Friends, This weekend we have some delicious specials including Roasted Poblano Bisque, Honey Brined & Grilled Thick Cut Pork Chop with a Creole Mustard & Maple Syrup Reduction, Tilapia stuffed with Shrimp, Scallops & Crab and Slow Braised Osso Buco. Treat your Valentine to to a gourmet 4 course meal at Mike’s. This special meal will be offered February 13th thru 15th and reservations are recommended. Click here to view the menu. Bon Appétit, Chef Mike PS - Don't forget about our special dinner menu offered on Wednesday & Thursday evenings from 5pm until 6pm.

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January 2014 San Antonio Home Sales Report

The beginning of January 2014 closes the most active San Antonio residential real estate market year since 2006.  According to Steven Gragg, Chairman of the San Antonio Board of Realtors, “This year’s housing market proved even stronger than 2012, with the lowest months of inventory being reported in over six years. Every month, the total number of home sales exceeded those of their 2012 counterparts.” What does the future hold for San Antonio home sales? Analysts predict 2014 will be equally as active as 2013, if not more so. Why?     Home sales will remain strong because the area's exceptionally strong economy. Here are the facts. The San Antonio metropolitan area is basically an economic powerhouse driven by the still developing Eagle Ford shale oil and gas industry, a thriving business friendly environment based on tourism, service industries, a large active duty and retired uniformed services community, and thriving medical treatment, education, and training institutions.  Significantly, the proliferation of many new locally grown and inbound  businesses has produced the economic diversification the Alamo city has long needed to insure a stable and reliable source of manpower, money, and materials for now and years to come. Also, as evidence of San Antonio’s rosy economy, Forbes Magazine recently ranked San Antonio as being in second place for cities least effected by the late Great Recession. So, here’s what can be expected for San Antonio’s residential sales in January 2014 and into the following months:  •  the inventory of newly constructed and resale homes will remain unusually low,  •  home list prices will increase, •  home sale prices will increase,  •  average time to sell a home will decrease,  •  pressure on the already limited new and resale home supply will increase as buyers rush to make their purchases in the face of rising mortgage interest rates,and  •  the months long sellers’ market will continue unabated. Despite the good news for home sellers, prospective home buyers should take heart in knowing that, historically, San Antonio has a consistent record of moderate but steady home value appreciation and sales market stability. Furthermore, San Antonio homes are still very affordable when compared to homes in the nation’s other large metropolitan areas. That’s the good news for our January 2014 San Antonio residential realty market report. Wishing you a safe, happy, healthy, and prosperous new year, we're Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas. We encourage reader comments and recommendations about how to make our reports more informative and useful. You're invited to use our sanantoniohomequest.com website for reliable residential realty advice and assistance and a fast and easy residential listings search engine.  If you have questions, need San Antonio 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 (Randy) or (210) 867-8743 (Stephanie).  Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs.