Growing home prices paired with low supply have not deterred San Antonio buyers, and our offices have seen a significant uptick in buyers seeking their dream homes. Summer tends to be a strong time for home sales, but there are other factors driving this year’s statistics.
“Our local market consistently outperforms last year’s, putting the San Antonio area on track for another record-breaking year,” said Yvette Allen, SABOR’s 2017 Chairman of the Board. “Though prices have increased, they are still generally lower than those in other major Texas metros. This affordability combined with so many jobs relocating here as well as our booming tech, medical and military industries help San Antonio maintain its popularity among buyers.”
Whether you are buying or selling in the summer months, information from a knowledgeable professional can make all the difference. “This continues to be a hot market, and homes can sell quickly. For buyers interested in purchasing a home this summer, they can prepare by identifying their must-haves in a home, getting pre-approved and working closely with their REALTOR®,” said Angela Shields, SABOR’s President and CEO. Sellers should also look for help in pricing their property right and using highly-effective marketing strategies to bring in the most qualified buyer.
My team has represented fine properties in North Central San Antonio for the last 17 years, and that translates to expertise and connections that give our buyers and sellers an edge in their real estate transactions. We’d love to put our experience to work for you—let us know if we can be of assistance.
My team saw an uptick in home sales last month, and we also had buyers in multiple offer situations. So we weren’t surprised when we reviewed the San Antonio Board of REALTORS’® (SABOR) February report on the market and saw a three percent increase in home sales when compared to the same period in 2016. Homes spent an average of just 63 days on the market, an 11 percent drop from February last year.
Not only are we seeing sold signs going up more quickly in front of area homes, SABOR reports that the price per square foot grew four percent to $110. Even better news for sellers—97.6 percent of homes sold for list price.
“Though prices here have grown, the increases are steady and sustainable unlike many other large cities in the country,” said Michele Bunting Ross, SABOR’s 2017 Chairman of the Board. Anyone who has lived through a bursting housing bubble can appreciate just how important it is that San Antonio’s strong economy (including growing wages) supports the reasonable growth in home prices—no bubble here!
In a market like this, sellers need to make sure they are pricing and marketing their home correctly, and buyers need the expertise of a professional to help them write an offer that will be attractive in a competitive situation. My team and I are staying on top of these trends and communicating them to our clients, so that we are able to help our buyers and sellers be proactive in changing market situations.