MAY 2012 REAL ESTATE MARKET REPORT FOR SAN ANTONIO & BEXAR COUNTY, BULVERDE, MILITARY BASES AREAS, AND SURROUNDING COUNTIES
As we enter May 2012, there’s little need to elaborate on San Antonio’s excellent residential realty market.
Many factors have converged to cause what looks like an unusually early peak home selling season.
The local and regional economies are being strongly driven upward by the nearby Eagle Ford Shale Oil Boom, tourism and the region's vibrant service and medical industries. Population growth is high and, after being relatively flat during the late Great Recession, home values in most neighborhoods are 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 exceptionally good so far, especially for lower to moderately priced homes.
Most realty industry analysts agree that San Antonio’s current home sales environment is much better than last year’s relatively tepid atmosphere.
If current trends continue, it's hard to avoid characterizing his year’s realty market as vibrant.
For those who love stats, here are the key indicators for San Antonio's single family detached home listings as of 8 May 2012.
There are 10,445 active listings, compared to 12,068 one year ago. The inventory is slowly increasing, but not as rapidly as one would expect for the season. That’s a good sign for sellers.
The average sales price for the most recent closings is $193,016, compared to last year's $180,957. The increase in average sales price is a good sign for sellers.
Average cumulative-days-on-the-market (CDOM) for the most recent sales is 139 compared to 144 last year. Decreasing CDOM is positive for San Antonio home sellers.
Industry analysts see these data as reflecting a housing market slightly favoring sellers over buyers.
That's all for our May 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.
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