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.

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.

San Antonio Faces Possible Shortage Of Homes For Sale In January 2014

When it comes to home buyers finding a lot of homes for sale this coming January, they may be disappointed.  That's because December 2013 is seeing too few new and resale homes coming on the market while, at the same time, an unusually high number of holiday season buyers are snapping up the already limited inventory.

Currently, San Antonio's homes for sale inventory is at a level not seen since December 2006.  The population of the San Antonio metropolitan area has grown enormously since then.  It's a trend that's projected to continue through 2014 and beyond.  Consequently, unless more homes come on the market soon,  demand for housing could easily outstrip supply when the more active late winter/early spring market kicks in.

Here's the situation as of 18 December 2013.  There were only 8,007 single family detached homes for sale in San Antonio, but 1,826 of those homes were already under contract, leaving only 6,181 homes not spoken for.  That's only a 3.1 months supply of available homes for sale, and that figure is inching down daily. Unless more new listings come on the market soon, San Antonio looks to have a housing shortage in 2014 similar to that experienced in Austin and Houston this year.

So, what are the implications?

When demand outpaces supply, home prices are destined to rise and competition for available inventory will become exceptionally keen.  That's a welcome trend for home sellers, but will prove unwelcome and possibly daunting for home buyers seeking the best bargaining position.  Short market time, high competition for the best homes and multiple simultaneous offer situations will likely ensue.

In light of these developments, the realty community advises prospective sellers to get their homes on the
market as soon as possible and prospective buyers to launch their home search and make their purchase before the area locks into a very strong seller's market this spring and summer.

This article is brought to you by the members of the SanAntonioHomeQuest.com Realty Solutions Team, Keller Williams Legacy, San Antonio, Texas.

Visit our website or call us for the best advice about, and assistance with, your San Antonio home buying or selling needs.   Contact Stephanie Kelley, Realtor®, GRI, ABR, CRS, E-Pro at (210) 867-8743 or Randy Kelley, Realtor®, at (210) 863-2661.  

December 2013 San Antonio Home Sales Report

Our December 2013 San Antonio Home Sales Report is brief and to the point.

The opening of this year's holiday season sees the closing out of the most active San Antonio home sales market since the record breaking 2006 home sales year.

Although December is typically the low season for realty activity in-and-around the Alamo city, if the current trend continues, our market promises to produce a near historic high number of home sales for December.

Although there are many factors contributing to the upward home sales trend, there is universal agreement that the prime reason for our robust residential sales market is the economic boom created by the nearby south Texas Eagle Ford shale oil and gas play.

As seen by the following key indicators, San Antonio's healthy oil driven economy has had a dramatic effect on area home sales.

As of 8 December 2013, compared to 8 December 2012 -

• the number of homes under contract is up 2.79%,
• the average home list price is up 13.63%,
• the most recent average home sale price is up 8.91%,
• the average time to sell a home is down 11.93%,
• the homes for sale inventory is down 10.8%.

So, what does this mean for San Antonio area home sellers and buyers this month, through the winter, and into next spring?

Although industry analysts see the data as reflecting a housing market very strongly favoring sellers, buyers can take heart in knowing that mortgage interest rates remain low and the average quality San Antonio home remains highly affordable when compared to a comparable home in the nation's other large metropolitan area markets.

That's all for our December, 2013 San Antonio realty market report other than our wishing you a merry Christmas, happy holidays, and happy 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.

Please visit 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.

 SanAntonioHomeQuest.com
Realty Solutions Team
Randy & Stephanie Kelley
 Realtors®
Keller Williams Legacy
(210) 867-8743 (Stephanie)
(210) 863-2661 (Randy)

Visit Our Other Blogs At:
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Texas Home Girl Report

November 2013 San Antonio, Texas, Residential Real Estate Market Report

 

It's autumn in South Texas. Bright beautiful days, balmy afternoons, and cooler nights herald the approaching holiday season. Residents and tourists are out and about, delighting in San Antonio's most pleasant season.
Typically, San Antonio's residential realty market also cools significantly during the fall and early winter months, however, this year, realty sales are exceptionally strong for early November and are projected to continue at a slower but still unusually brisk pace during the remainder of 2013.

In fact, this year has seen a continuation of the highly favorable home sales trend that started in the fall of 2012. Driven by low mortgage interest rates, the area's booming economy, and an influx of residential investor buyers, calendar year 2013's Alamo City area home sales record will likely come close to matching the historically high number of sales seen in 2006 and 2007.

Until recently, buyer demand has exceeded the inventory of new and resale homes and, until late summer, the home supply/demand imbalance caused both list and sale prices to rise unusually fast and the average time to sell a home to steadily fall. Now, because of the slightly slower fall selling season, those trends have stabilized.

Nonetheless, there may be significant changes in the wind. San Antonio has seen a very strong home seller's market for many months, however some realty analysts see the coming of a more balanced market for the San Antonio area in 2014. Why? It appears that the recent dramatic inflation of San Antonio home sale prices is driving too many prospective home buyers out of the market. Consequently, in the coming months, as home affordability decreases, demand will also decrease, thereby driving down sales, upping inventory and, ultimately, causing list and sales prices to fall. Only time will tell if the analysts' predictions will come true. We should know by mid-summer of next year.

That's for the future. For the time being, San Antonio home sellers hold the advantage, as shown by these key indicators for San Antonio's single family detached home sales market as of 4 November 2013:

There are 8642 homes for sale compared to 9396 one year ago. The inventory is very low but stable. The low inventory is a favorable sign for home sellers.

The average sales price for the most recent closings is $207,950, compared to last year's $199,544. That's a 4.21% average price increase and is much lower than the percentage increases seen during recent months. Although still favoring sellers, it might give prospective buyers some hope that home prices are moderating.

Average cumulative-days-on-the-market (CDOM) for the most recent sales is 90 compared to 121 days last year. CDOM data is positive for San Antonio home sellers.

That's all for our November 2013 San Antonio residential realty market report. We encourage reader comments and recommendations about how to make our reports more informative and useful.

Wishing you a peaceful Veterans Day holiday and happy Thanksgiving, we are Stephanie and Randy Kelley, Realtors ® at Keller Williams Legacy, San Antonio. If you have questions, need San Antonio area realty or mortgage advice or assistance, or just want to learn more about our wonderful Alamo City, call
(210) 863-2661 or (210) 867-8743. Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs.

September 2013 Homes For Sale In San Antonio

As San Antonio’s hot and dry summer hopefully cruises toward a cooler and wetter fall, the area’s residential realty market is expected to also cool off a bit after an exceptionally hot late spring and summer sales season.

Surprisingly, the Alamo City area home sales market peaked unusually early this year, with May seeing 2479 closed sales.  During June through August, home sales moved along at a slightly slower, but still brisk and steady pace.

So far this year, there has been a marked shortage of both resale and newly built homes.  As shown below, the demand/inventory imbalance has caused a gradual but steady increase in home prices and a significant decrease in the time needed to sell a residential property.  Specifically, as of 6 September 2013 compared to 6 September 2012:

• available resale home inventory is down 9.78% (from 10016 down to 9045), 
• pending homes sales are up 4.65% (from 2165 up to 2265),
• the average asking price is up 10.49% (from $283,577 up to $313,333),
• the average closed sale price is up 4.4% (from $200,947 up to $209,789),
• the cumulative time needed to sell the average resale home has fallen 22.88% (from 118 days down to 91).

With only a 4.8 month supply of homes on the market, San Antonio presents an exceptionally positive market for home sellers.  Homes are currently selling for 97% of asking price and well prepared homes in the most popular neighborhoods are going under contract very quickly.  

Although the news is exceptionally positive for home sellers, it remains good for home buyers because mortgage interest rates remain low and San Antonio area homes are remarkably affordable when compared to homes in the nation’s other large metropolitan markets.

That’s all for our September 2013 San Antonio realty market report.

Wishing you a beautiful fall season, we’re 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 and selling need.  If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to chat about our wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie). 

San Antonio Homes For Sale News

Here's the latest San Antonio Homes for sale news from the desk of Steven Gragg, Realty Broker at Keller Williams Legacy, San Antonio, Texas.

• Of the top 10 metro areas for job growth through 2020, the United States Bureau of Labor Statistics ranked San Antonio as 10th on the list. The only other Texas city is El Paso - #5.
• Only two U.S. metro areas have had increased home values since 2007. Both are Texas cities - Houston 4.8% rise and San Antonio reported a 2.7% increase.
• The Dow Jones Industrial Average is above 13,000. Great for home buying and selling morale.
• Southwest Airlines plans to bring 322 new jobs to San Antonio.

Mortgage Update
FHA is boosting the cost of its mortgage fee. The upfront mortgage insurance premium (MIP) will increase 75 basis points, meaning 30 year single family FHA loans will be more costly. It will increase the payment on a typical $150,000 loan by $5 per month. Goes into effect 1 April 2012.
John Nichols at Alterra Mortgage has some great weekend rates. Call (210) 789-2870. Alterra is offering 100% FHA loans.
Go to our website at sanantoniohomequest.com to find San Antonio MLS listings.
We specialize in providing the finest in realty services. Contact us for more information or an appointment to list a property or visit any San Antonio area residential listing.

This blog is brought to you by

Stephanie and Randy Kelley, Realtors

Professional Real Estate Analysts and Negotiators

kelleybus@aol.com or swkrealtor@aol.com

(210) 863-2661 or (210) 867-8743

The http://sanantoniohomequest.com Realty Solutions Team

Keller Williams Legacy

San Antonio, Texas

March 2012 San Antonio Homes For Sale Report

We’re having an unusually early spring this year in South Texas.

The signs of springtime are abundantly evident all around the Alamo City and the nearby Texas Hill Country and South Texas Plain. Flowers are blooming, birds are singing, and the residential real estate market is going CRAZY!

It’s easy to see why. The area’s economic foundation is exceptionally strong as evidenced recently by San Antonio being ranked by the Bureau of Labor Statistics as being among the top 10 metros with the greatest projected job growth through 2020.

It’s a fact. Texas is currently the Nation’s leading economic powerhouse and San Antonio and South Texas are a major contributor to the state’s economy, growth, and stability. The area’s oil and natural gas fields, health care industry, Air Force and Army complexes, tourist attractions, commercial activities, and service sector are generating historically high demographic and economic growth for the Alamo City and surrounding communities.

A vibrant economy drives home sales. Entering March 2012, average San Antonio area residential list prices are up 6.7% over March 2011, pending sales are up 10.81% and the latest closing prices are up 1.39%.

Remarkably, the homes-for-sale inventory is down 13.15% - the lowest March inventory since 2006. With only a 6.5 months inventory on hand, the home sales market is roughly balanced, offering a negotiation advantage to neither buyer nor seller.

That’s the good news for our March 2012 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.

February 2012 San Antonio Real Estate Market Report

It's hard to argue with the numbers and everywhere we look the numbers are up for San Antonio's economy and housing market.

Why not?

We're situated at the front gate of the highly lucrative and rapidly growing Eagle Ford shale oil boom.

Each month, we're growing or attracting a diverse mix of new and relocating businesses.

We have a relatively low unemployment rate when compared to America's other large metropolitan areas and the nation in general.

Population growth is steady and well supported by the local economic, health and government services infrastructures.

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

In January, we were seeing signs of an impressive 2012 sales year for both the residential construction and resale housing markets. Now, in early February, thanks to the aforementioned factors coupled with historically low mortgage interest rates, we are experiencing an exceptionally active early winter realty sales season.

Just look! Here's the picture in and around San Antonio as of 4 February 2012:

Reasonably priced and well prepared resale homes are selling exceptionally well and new home builders are responding to better conditions by producing a larger inventory of production homes.

There are 9, 913 homes listed for sale compared to 11,399 one year ago.

The listings inventory is exceptionally low but will likely trend steadily upward as late winter/early spring listings are brought to market.

For the time being, the market 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 $179,728 compared to last year's $187,762.

Nonetheless, closed sale prices are steadily rising - a trend likely to continue through the higher paced late winter/spring and summer home selling seasons. That's a good sign for sellers.

Average cumulative-days-on-the-market (CDOM) for the most recent sales is 147 compared to 137 last year. A continuing downward trend is expected. That's a positive sign for home sellers and the San Antonio realty market generally.

Industry analysts see these data as reflecting a basically balanced housing market that is more likely than not to soon favor sellers over buyers.
　
That's all for our February 2012 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 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.

January 2012 San Antonio Realty Market Report

When forecasting housing and other economic trends, it seems no one has a crystal ball. The best the experts can do is look to the present conditions and short term indicators for hints of things to come.

Now, as San Antonio enters the New Year, there are clearly impressive indications that the Alamo City area is likely to see remarkable economic strides - and an interesting housing market - in the coming months.

Who are experts supporting that conclusion?

First, the respected Milliken Institute recently ranked San Antonio as number 1 on its annual list of Best Performing Cities Index. Second, Livability.com ranks San Antonio second among the best 10 places in the Nation for recent college graduates. Third, in an article last July, Forbes Magazine ranked San Antonio as number 4 in its list of the nation's next boom towns. Fourth, Kiplinger Magazine gives San Antonio high rankings as a "best value city." The list goes on and on.

Significantly, the last time San Antonio received such high rankings from so many quarters heralded the city's historic 2006 realty boom. Is it possible that 2012 will see the return of a frantic residential realty market like 2006? It's possible, but not likely, because the nation's slowly progressing economic recovery should check what could otherwise be an overheated 2012 San Antonio realty market.

Nevertheless, as pointed out in our preceding blogs, many favorable factors are converging to make 2012 an exceptional realty year for San Antonio/Bexar County and the surrounding counties and communities.

Specifically, the area's employment rate is high, the population growth is steady, and, compared to other large metropolitan areas, home prices are more reasonable than average. Mortgage rates remain historically low and lenders are aggressively seeking qualified home buyers. The Eagle Ford Shale oil play just south of town is infusing manpower, money, and materiel into the economy and spurring high demand for housing for oil and gas industry workers and their families.

To say the least, there's ample reason to believe that San Antonio's 2012 realty market will be much more active than in any year since 2006.

For data lovers, here's the picture in and around San Antonio as of 2 January 2012:

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.There are 9, 598 homes listed for sale compared to 10,984 one year ago. The inventory is exceptionally low but will likely trend steadily upward as New Year listings are brought to market. For the time being, the market 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 $181,030 compared to last year's $190,656. Sales prices are rising - a trend likely to continue through the higher paced late winter/spring and summer home selling seasons. That's a good sign for sellers.

Average cumulative-days-on-the-market (CDOM) for the most recent sales is 149 compared to 144 last year. A continuing downward trend is expected. That's a positive 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 January 2012 San Antonio realty market report. We encourage reader comments and recommendations about how to make our reports more informative and useful.

Wishing you and yours a 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, 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 http://SanAntonioHomeQuest.com Solutions Team is always ready to help you with your home buying or selling needs.

December 2011 San Antonio Residential Realty Market Report

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.

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.

November 2011 San Antonio Homes For Sale Report

If you're visiting to find homes for sales in San Antonio, visit our world class realty search engine at SanAntonioHomeQuest.com. If you want to know what's happening in the residential realty market, read on:

It's autumn in South Texas. Bright beautiful days, balmy afternoons, and cooler nights herald the approaching holiday season. Residents and tourists are out and about, delighting in San Antonio's most pleasant season.

Typically, San Antonio's residential realty market cools down with the season. It's to be expected because San Antonio's realty market runs in a predictable seasonal cycle. The lowest sales month is January, the higher sales season kicks off in March and usually peaks in June, and, after school starts in August, the market draws down in a leisurely fashion through the fall and early winter.

So far, this year's cycle has been typical, with one exception. The area has experienced a significant reduction the homes-for-sale inventory.

Currently there's approximately a 7 months supply of homes on the market - signifying a weak buyer's market. If the supply drops much lower, the market will experience a balanced market neither favoring buyers or sellers and likely causing a gradual rise in home prices.

Balancing the market is a healthy trend indicative of improving economic conditions. That's unquestionably the case in San Antonio this year.

Here's why.

Job growth is excellent and the unemployment rate is relatively low. Just south of the city, the developing Eagle Ford shale oil field is attracting new businesses and generating thousands of new job opportunities throughout South Texas. Also, the Alamo City's traditional economic generators remain strong with financial, service sector, military, bioscience, and medical establishments leading the way and showing no signs of weakening.

Barring unforeseen factors, San Antonio's realty market will likely mirror San Antonio's vibrant economic conditions - strong, resilient, & growing.

Here are the relevant market stats for San Antonio area single-family detached homes as of 5 November 2011.

There are 10771 active listings, compared to 12072 one year ago. The inventory is decreasing very rapidly. That's a good sign for home sellers.

The average sales price for the most recent closings is $181,243, compared to last year's $183,131. Because the decrease is likely seasonal and not indicative of a long term trend, it's neither a good nor bad sign for buyers or sellers.

Average cumulate-days-on-the-market (CDOM) for the most recent sales is 146 compared to 126 last year. For the time being, CDOM data remains positive for San Antonio home buyers.

Industry analysts see these data as reflecting a housing market moving toward balanced conditions. That means the market might soon favor neither buyers nor sellers.

That's our November 2011 San Antonio realty market report. We encourage reader questions, comments, and suggestions for making this monthly report more relevant and informative.

Wishing you an wonderful November and a blessed Thanksgiving, we are Stephanie and Randy Kelley, Realtors ® at Keller Williams Legacy, San Antonio. If you have questions, need San Antonio area realty or mortgage advice or assistance, or just want to chat, please call (210) 863-2661 or (210) 867-8743 or send an email to swkrealtor@aol.com or kelleybus@aol.com. Our http://sanantonohomequest.com Realty Solutions Team is always ready to help you with your home buying or selling needs.

Rent And Sale Prices In San Antonio Could Signal A Buyer's Swing

The following very excellent and timely article is written by Kala Bell, our guest blogger from the University of Michigan.

RENT AND SALE PRICES IN SAN ANTONIO COULD SIGNAL A BUYER'S SWING

In most housing markets, the fall and winter months can often signal a slow period for both buyers and sellers. With the holidays approaching, many families often get locked in and restart their search after the New Year begins. While this may often be true, trends and statistics often help to determine the market. Buyers who are on the fence are looking to reap the benefits of good trends and the San Antonio area offers up some appealing figures for buyers as October draws to a close.

The numbers for rentals in San Antonio are in for the fall season and they are telling for interested buyers. Right now, San Antonio apartments are averaging $758 per month. This is a 2.4 percent increase from the rent averages in late 2010. Rentals in the area are at 93.5 percent occupancy, which signals low rental inventory and the possibility for even more rising rental rates.

With the rental rates up in San Antonio, potential buyers who are on the fence could certainly be tempted to pull the trigger on a possible new home. Median price in the area is also certain to have an effect on the feelings of potential buyers. Sale prices are down about 3 percent from 2010. In September, the median sale price in San Antonio was $183,762.

Also in September, the San Antonio housing sales numbers were very promising. An eight percent increase in sales over 2010 reflects an area market that could be primed for resurgence. Buyers can take note of the record low mortgage rates throughout the nation and in San Antonio, specifically. A 30 year, fixed rate mortgage is now as low as 3.94 percent, marking the first time a 30 year has dropped below 4 percent.

Inventory has been down for homes as well, however the average time on the market has gone up for homes. The market has stayed pretty steady in the San Antonio area for the past year. This is a good sign, as many other areas throughout the nation have taken catastrophic hits in the same time period. The San Antonio area, as well as other major Texas hubs should continue to do well as many places in the country experience issues. With this area often driven by the oil industry, the region seems to be better off, especially when it comes to unemployment.

The San Antonio real estate market should continue to stay steady with the possible hope for a full bounce back some time 2012. The numbers from January to September of 2011 are telling, signaling a hopeful resurgence in the late months of the year and early part of 2012.____________________________________________________

Thanks Kala for your excellent analysis and thought provoking blog article. We look forward to hearing from you again very soon.

This blog is brought to you by Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas. We are professional residential realty analysts and negotiators. If you're looking to buy or sell a home, our goal is to help you get the best price, terms, and conditions. Visit us at sanantoniohomequest.com.

October 2011 San Antonio Real Estate Market Report

Like the weather, San Antonio's realty "hot season" typically ends in September. In October, falling leaves and falling temperatures are accompanied by falling home sale activity.

It's to be expected. San Antonio's realty market runs in a predictable seasonal cycle. The lowest sales month is January, the higher sales season kicks off in March and usually peaks in June, and, after school starts in August, the market draws down in a leisurely fashion through the fall and early winter months. Interestingly, some years see a spike in activity in late October and early November. Will that happen this year? It remains to be seen.

So far, this year's cycle has been typical, albeit sales volume has been unusually modest due to the influence of the continuing national economic malaise.

Barring the return of a full-blown recession, industry analysts see little reason to be concerned about San Antonio's economic health.

Why?

The area's job growth is excellent. Its unemployment rate is relatively low. Corporations are relocating to the area. Just south of the city, the developing Eagle Ford shale oil fields are fueling an economic boom. The Alamo City's financial, service sector, military, bioscience, and medical establishments are strong and fully capable of providing the stable economic environment needed to encourage and sustain small and large business development.

Looking at real estate specifically, local analysts are confident that, barring unforeseen factors, San Antonio's realty market will breeze through the expected seasonal cool-down and come back even stronger in the spring.

Here are the relevant market stats for San Antonio area single-family detached homes as of 1 October 2011.

There are 10974 active listings, compared to 12495 one year ago. The inventory is decreasing very rapidly. That's a good sign for home sellers.

The average sales price for the most recent closings is $188,836, compared to last year's $188,411. The very small increase in average sales price is insignificant and, therefore, neither a good nor a bad sign for sellers or buyers.

Average cumulate-days-on-the-market (DCOM) for the most recent sales is 135 compared to 123 last year. For the time being, CDOM data is positive for San Antonio home buyers.

Industry analysts see these data as reflecting a housing market slowly drifting toward balanced conditions. That means the market neither favors buyers nor sellers.

That's our October 2011 San Antonio realty market report. We encourage reader questions, comments, and suggestions for making this monthly report more relevant and informative.

Wishing you an wonderful October 2011, we are Stephanie and Randy Kelley, Realtors ® at Keller Williams Legacy, San Antonio. If you have questions, need San Antonio area realty or mortgage advice or assistance, or just want to chat, please call (210) 863-2661 or (210) 867-8743 or send an email to 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.

San Antonio Homes For Sale Today

It’s a lovely 14 September 2011 in San Antonio.

It’s still hot and dry but a cool front is approaching and there’s a chance we’ll see relief from our protracted heat wave and drastic drought conditions. That’s great news for the weather weary citizens of the River City.

There’s also good news for home owners and buyers. The area’s realty market is unusually active for this time of the year.

Sellers should be pleased to hear that pending home sale closings are up and the inventory of available homes is down. That means less competition.

Buyers should be happy to learn that the mid-price for homes for sale hasn’t changed much from last year’s median sales price.

Both home sellers and buyers should know that the market is drifting toward a balanced condition neither favoring buyers nor sellers.

Here’s a simple summary of San Antonio’s single family detached housing market today:

There are 11250 listings.
There 1908 home sale contracts scheduled to close soon.
The average list price of pending sales is $186,626.
The median sold price for recent sales is $149,995.
Homes are selling for 96% of their list price.
It’s taking about 132 days to sell a house. Of course, many well prepared homes are selling much quicker.

That’s all for today’s report.

We’re Stephanie and Randy Kelley, Realtors® of 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 the wonderful Alamo City, please call us at (210) 863-2661 or (210) 867-8743, or E-mail 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

Facts For San Antonio Home Buyers

Here are some facts for home buyers thinking about moving, or on the way, to San Antonio.

San Antonio has long been identified as one of America's most unique cities.

It isn't small, in fact, it's the nation's 7th largest city, yet there's still a small town feel in many of its unique and culturally diverse neighborhoods.

The city goes by many names - San Antonio (of course), The Alamo City, Military City USA, The River City, and, most recently, America's Military Medical City. Just don't call it San Antone (San An Tone). The natives hate that pronunciation!

San Antonio is the home of 3 major military bases and some smaller military camps and posts, so, as you'd expect, it has a relatively young military age population. City-Data.com cites 34.7 years as the median resident age. The neighborhoods closest to the military bases tend to have a much younger population.

Of course, as a sun belt city, it is a major relocation site for retiree families seeing a warm climate and relatively low cost of living.

Speaking of cost, for buyers needing a mortgage loan, there's an ample supply of trustworthy lenders. Landing a loan is another issue. Underwriters are picky-picky-picky nowadays. They seem to go out of their way to deny loan applications. Naturally, buyers with the very best income and credit scores have no problem obtaining their loans. On the other hand, even the smallest blemish on a buyer's credit report or an irregular income flow can be the kiss is death for getting a mortgage loan. So, before you go San Antonio house hunting, talk with a lender about your chances of getting your mortgage loan.

What about the availability of newly built and resale homes?

San Antonio has an ample supply of home builders eager for business as well a many available resale homes. Historically, the area's real estate market has favored new home builders because their freshly built products have proven more competitive than resale homes. A recent offsetting trend has seen San Antonio area builders putting less available new home inventory on the ground, indicating the builders are now satisfied with marketing to buyers who can afford the time to contract for a to-be-built home.

What about commute time to affordable neighborhoods? Basically, the Alamo City's commute times and distances are nothing compared to other large metro areas. Although the San Antonio metropolitan area is large and very spread out, buyers can usually find quality affordable housing within a 20 to 30 minute commute to work.

How about recreation and shopping amenities? No problem! San Antonio is one of the nation's top destination cities for tourism and shopping.

Finally, what about friendliness and newcomer acceptance? Again, no problem! Cities with large military populations aren't known to shut out newcomers. After all, San Antonio is Military City USA. So, don't expect a newcomer to find rejection. Everybody's welcome!

Do you want more information? Just let us know and we'll fill in the details.

We're Stephanie and Randy Kelley, Realtors® of Keller Williams Legacy, San Antonio, Texas. If you have questions, need San Antonio area 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 or
(210) 867-8743, 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 and selling needs.

August 2011 San Antonio Realty Market Report

2011's very hot and very-very dry San Antonio July has passed.

Because of South Texas' drastic drought, we're lucky the Alamo City can still claim its River City nickname. But tourists and natives need not fear, the San Antonio River is flowing well and the famous River Walk is open for business as usual.

Has the area's unusually arid summer cooked its realty market. Not at all. In fact, compared to the preceding summer seasons, July's closed home sales and August's pending sales reflect a relatively active real estate market for San Antonio and the surrounding communities.

August usually heralds the end of realty high season around here and, based on many years experience, home buyers and sellers can expect to see a cooler, more casual, and less aggressive low season for new and resale home sales.

Will the coming fall and winter season see the market continuing many months of favoring home buyers over sellers?

Perhaps not, because there are increasingly strong indications that the market is drifting toward a more balanced condition.

Specifically, the homes for sale inventory has decreased markedly. That means less competition for sellers and fewer opportunities for buyers.

Also, 2011 has seen the return of the area's typical 2% to 3% home value appreciation rate. That means sellers are less likely to consider low ball offers and more likely to expect a sales price that's closer to their asking price. Consequently, in the near term, buyers can expect to encounter less seller flexibility and harder negotiations.

Clearly, San Antonio has weathered the late great recession very well. The area's past economic and demographic trends and its long term projections reflect a large and vibrant metropolitan area with a strong, stable, and growth oriented personality.

The Alamo City area realty market is expected to follow suit.

That's all for our August 2011 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® of Keller Williams Legacy, San Antonio, Texas. If you have questions, need San Antonio area 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 or (210) 867-8743, 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 and selling needs.

San Antonio Homes For Sale - The Seller's Disclosure

The Seller's Disclosure is a state law requirement. Its purpose is to have the seller tell prospective buyers specified things the seller knows about the property.

Real estate agents are barred by law from helping or even advising the seller about filling out the form. The intent is to keep everyone out of the seller's disclosure preparation process except the person who knows most about the property and that's the seller.

Sometimes the seller will revealed some property defects. Undoubtedly, there will be other unknown defects. There always are - even in newly constructed homes. That's why, when buying a resale home, it's advisable to negotiate for an option period, to get the property professionally inspected during the option period, and to negotiate with the seller for repairs when repairs are called for.

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 or (210) 867-8743, or E-mail 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.

July 2011 San Antonio Realty Market Report

The second week in July is typically San Antonio's realty market yearly high point. Many pending sales will close within the next 30 days. Uncommitted buyers with school age children must rush to find the right home in order to able to close on their purchase or at least be under a binding contract before school starts.

Many factors are converging to make this year’s San Antonio's realty market interesting. The local economy is strong, population growth is high and, after being relatively flat for many months, home values in most neighborhoods are gradually 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 fair to good so far, especially for moderately to lower priced homes and for luxury grade housing.

It's difficult to reach conclusions as to the long term market trends, but, in the short term, it's clear San Antonio's current home sales market parallels last year’s relatively tepid market. Basically, it’s not unhealthy, but significantly less than vibrant.

For those who love stats, here are the key indicators for San Antonio's single family detached home listings as of 8 July 2011.

There are 12,094 active listings, compared to 12,891 one year ago. The inventory is slowly decreasing. That's a good sign for home sellers.

The average sales price for the most recent closings is $193,883, compared to last year's $190,763. This increase in average sales price, although small, is another good sign for sellers.

Average cumulative-days-on-the-market (CDOM) for the most recent sales is 133 compared to 122 last year. In 2010, CDOM dropped fast during the Federal Tax credit home buying frenzy, then rose quickly when that program expired. It remains to be seen if cumulative market time will improve, but a slight downward trend is possible in the short term. For the time being, CDOM data is positive for San Antonio home buyers.

Industry analysts see these data as reflecting a housing market drifting toward balanced conditions. That means the market neither favors buyers nor sellers.

That's all for our July 2011 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® of 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 the wonderful Alamo City, please call us at (210) 863-2661 or (210) 867-8743, or E-mail 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 and selling needs.

June 2011 San Antonio Homes For Sale Market Report





Quality Home Near Randolph AFB And Fort Sam Houston

 Summer weather came early to South Texas this year. Now, in early June, it’s unusually hot and very dry in-and-around San Antonio.

Does the Alamo City’s residential realty market match the weather? Not yet.

In the first quarter (January through March 2011), home sales activity was very healthy, leading many realty analysts to believe that 2011 would herald San Antonio’s full recovery from the effects of the late great national recession. Yet, April saw a dip in sales and a continuing decline in residential resale list prices. May seemed no better, as pending contracts dropped below May 2010’s less than glamorous pending sales record.

Does this year’s April and May downturn foreshadow an unusually slow late spring/early summer home sales cycle for San Antonio. It remains to be seen, but it’s unlikely even a slow San Antonio realty year will signal a serious decline in San Antonio’s typically healthy real estate environment.

Here’s why.

Because of its solid economic and demographic foundations, San Antonio remains one of the nation’s bright spots for home ownership and rental investments. Affordable mortgage availability is high for those who qualify, mortgage interest rates are historically low, and the area continues to receive an influx of retiree families, job seekers, and military and corporate relocation buyers eager to take advantage of San Antonio’s well priced homes.

Focusing on specifics, homebuyers and sellers should take satisfaction in knowing that there’s some good news for everyone.

For sellers, there are hints that the area’s months long buyers’ market is weakening. The residential listing inventory has stabilized and homes are selling well, particularly in the moderately to higher priced subdivisions in San Antonio’s north, northeast, and northwest sectors.
The advantage goes to sellers willing to beat out the competition by expending the resources needed to put their homes in prime market condition.

On the other hand, buyers have the advantage of being able to select from a large inventory of quality homes offered at close to bargain prices in many areas around town. Where listings are staying on the market longer than usual, sellers are lowering their price expectations accordingly.

Both buyers and sellers should keep this in mind. Those willing to negotiate realistically based on San Antonio’s market realities are the ones most likely to leave the closing table mutually satisfied.

That’s all for our June 2011 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 or (210) 867-8743, or E-mail 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.