San Antonio Real Estate Update

Well, it seems I’ve broken the first rule of blogging–being consistent with posting!  April’s been a crazy month, but it’s over now so back to business!  Did you watch the royal wedding?  I thought it was beautiful and memorable, but I’ve seen/heard enough already!

How about an update on what’s happening in the San Antonio real estate market?  It’s good news!  These figures come from the San Antonio Board of Realtors and are compiled from our Multiple Listing Service reports.  The latest figures available are from March–April will be out soon. As of the end of the 1st quarter of 2011, we’ve seen sales of 3,575 homes.  This is a slight decrease from the same period of 2010, but the decrease is due mostly to the fact that during this same period last year, buyers were taking advantage of the tax credit, which is no longer available.  Sales from this first quarter exceeded the same period in 2009, so that’s good news!

More good news–our average price for a single-family home is up 4% to $180,443.  Median price of a home is also up 4% to $148,000.  This reflects what has proven to be one of the strengths of the San Antonio market–slow and steady appreciation without all the high highs followed by the low lows experienced in other areas. We continue to buck the national trend which is seeing a decrease in home prices in many areas.

We currently have 8 months of inventory.  6 months is considered a balanced market, so we’re still in a buyer’s market, but not in the extreme.

Interest rates continue to stay low so this is still a wonderful time to consider becoming a homeowner.  Prospective buyers still have to qualify and lenders have tightened their qualifications, but if you have good credit, there are lenders out there who will work with you to help you get into a home.  Contact me–I’m happy to direct you to someone who can help you line up financing.

We’re moving into our busy spring and summer season, so if you’ve been thinking about selling, this is the time to get serious about it.  Please contact me for an analysis of your home and how to get it ready for the market.  Buyers are waiting for you!

We’re so lucky to live in the beautiful city of San Antonio!  If you’re not here, you should be!  If you are, lucky you!  Hope you have a wonderful May!