Predictable “Back to School” Slow Down in Home Sales

School buses are back on the roads and the weather is cooling.  With these sure signs of fall comes another—the predictable slowing of the San Antonio real estate market.  Home sales in September totaled 2,587, a 13 percent decrease from the 2,984 homes sold in August.

“It is not unusual for sales to taper off once the summer season winds down. Kids are returning to school so families want to remain in one place, and many buyers and sellers like to be settled for the coming holiday season as well,” said Yvette Allen, SABOR’s 2017 Chairman of the Board. “This has still been a busy year for real estate in the San Antonio area. In fact, since January, a total of 23,414 homes have been sold, which is three percent more than this time period last year.”

Homes priced between $200,000 and $500,000 made up 50.3 percent of the homes sold in September and homes priced under $200,000 made up 45 percent of the month’s sales. Homes priced over $500,000 accounted for 4.8 percent of September’s sales, with 12 of those priced over $1 million.

Meanwhile, days on market plummeted seven percent from the previous year to just 52 days in September and months of inventory also remained low with 3.8 months available.

A tight market with inventory below 4 months generally favors sellers.  My team excels at acting quickly to help our buyers write an attractive offer that will stand out from the rest.  When conditions are competitive, working with an experienced REALTOR® can make all the difference.

 

 

Posted on October 26, 2017 at 8:25 pm
Judy Dunlap | Category: Community, Real Estate, Statistics | Tagged , ,

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