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.