END OF APRIL 2017 SEES STRONG SAN ANTONIO HOME SALES ACTIVITY

It's the last week of April 2017. The San Antonio home sales market has clearly entered the high sales activity season.   

Many new listings have been posted recently however the inventory of available homes is not keeping up with demand.  Year over year, new listing prices are approximately 3% above 2016 prices, however the most recent closed sales are running approximately 6% above 2016 prices.  

On the downside, based on current Multiple Listing Service reports, the market is lagging slightly behind 2016 for homes currently under contract.  It's too early to project the significance of that indicator, but it could reflect a slower market compared to the same time last year. There are also early indications that home sales in some usually highly popular areas of town are not as active as last year.  That said, it's too early to know if the San Antonio area home sales market will beat out 2016's historically high sales activity.

If you want to know what's happening with home sales any San Antonio neighborhood, are looking to list your home, or want to know about any home listed for sale, please call or text a member of  Keller Williams Legacy's Powerhouse Team at (210) 867-8743 for Stephanie Kelley, (210) 863-2661 for Randy Kelley, (210) 414-9605 for Pat Acquisto, and (210) 213-1450 for Sheryl Sepulveda.  Powerhouse Realtors ® are superlative residential home value analysts and expert contract negotiators.  You can rely on the Powerhouse Team to help you get the best price, terms, and conditions for your realty investment.    


AUGUST 2016 SAN ANTONIO HOME SALES AND ECONOMIC NEWS 

This news update is compliments of Steven Gragg, Broker at Keller Williams Legacy, San Antonio.
  1. According to the latest Texas Quarterly Housing Report, the Texas median home price is $215,000, the average days on the market is 54, there is 3.7 month of inventory. In the San Antonio MLS area, the median home price is $205,000, the average days on the market is 55, and there is a 3.7 months inventory.
  2. According to the latest report, the U.S. Labor Market has revved up, adding 255,000 jobs since the last report. The US unemployment rate remains at 4.9%. According to the Bureau of Labor Statistics' June 2016 report, the San Antonio metropolitian area's unemployment rate is 4.0%.  
  3. Demand for apartments in the San Antonio area is still rising.  The average apartment rent in San Antonio is $933.  There are 5000 more units coming online this year (2016) and another 3200 planned are planned for next year.  Rent rates on the far northwest side of San Antonio and Bexar County side average $1238. The inventory of apartments on the northwest side has increased 64.6% since 2012. 

If you're looking to buy or sell a San Antonio area home soon, we offer our services. Call us at (210) 863-2661 or (210) 867-8743. We're Stephanie and Randy Kelley, award winning Realtors® of the Legacy Powerhouse Group at Keller Williams Legacy, San Antonio, Texas (210) 482-3202.

JULY 2016 SAN ANTONIO HOME SALES

Everything is bigger and better in San Antonio this year particularly in the home sales market.

In the San Antonio metropolitan area, home sales typically peak in June and fall off gradually during the hotter summer months.  By August, the sales high season is usually over as the fall school season approaches, however, this year, the market has remained active unusually late and there's a relatively high chance that home sales will continue at a rapid pace well into September.

San Antonio has seen a chronic shortage of both new and resale homes since 2014.  The demand of homes has outpaced the supply and the imbalance has caused a gradual but steady increase in home prices and a significant decrease in the time needed to sell a home.  

Here are the residential market key indicators, as of 25 July 2016 compared to 25 July 2015:

The inventory of available homes on the market was up 3.5 % (from 9097 in July 2015 to 9416 in July 2016).  Despite the increase in available homes for sale, there's still a very low inventory especially for a large metropolitan area like San Antonio.

Pending homes sales (homes under contract) were up 11.37 % (from 3088 in July 2015 to 3439 in July 2016 ).   The increase is partially explained by a lag in closings caused by new federal regulations governing mortgage and closing procedures.

The average asking price for recently closed sales was up 1.8 % (from $ 248,025 in July 2015 to $252,565 in July 2016). 

The average closed price was up 1.97% (from $242,524 in 2015 to $247,291 in 2016).

The cumulative time needed to sell the average resale home was 75 days, the same as in 2015.

With only slightly over a 4 month supply of homes on the market, San Antonio presents an exceptionally positive market for sellers.  Homes are currently selling for more than 98% of asking price and well prepared homes in the most popular neighborhoods are going under contract very 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 our nation's other large metropolitan markets.

In light of these factors, here's our advice if you’re hoping to buy or sell a San Antonio home this year.

If you're a seller, consult right away with a listing agent to learn the best ways to get your property on the market and seen quickly.

If you're a buyer, quickly engage a well qualified and experienced residential realty buyer's agent to (1) help you find the best homes for sale and (2) help you to get the best price, terms, and conditions for your residential real estate investment.

We offer our services. Call us at (210) 863-2661 or (210) 867-8743. 

Wishing you a marvelous July and August  2016, we're Stephanie and Randy Kelley, award winning Realtors® of the Legacy Powerhouse Group at Keller Williams Legacy, San Antonio, Texas (210) 482-3202.

SAN ANTONIO HOME SALES REPORT FOR JUNE 2016

According to the San Antonio Board of Realtors® (SABOR), more than 2,800 homes were sold in the San Antonio multiple listing service (MLS) area last month.  That's a remarkable 10% increase over sales in May 2015 and continues the area's remarkable home sales increase trend that started in 2014.

The other critical indicators are less dramatic. SABOR's May2016 report showed only marginal increases across the board.  Compared to May 2015, the average sold price rose 2% to $249,024 and the median sold price increased 3% to $208,700.

The latest average sales price data indicate a slight slowing down in the rather dramatic price increases chalked up in 2015 (10%) and 2014 (4%).  If the trend continues until the July end of the home sales high season, it's might be an indicator that San Antonio's long seller's market may be ebbing a bit. That would be a favorable indicator for home buyers.

Another favorable indicator for this month's home buyers is a 4% increase in the inventory of homes for sale. Inventory shortages mean increased prices.  In light of San Antonio's rising homes for sale inventory, some market analysts predict that future San Antonio home price increases might settle back into the area's long term average of between 2 to 4 percent per year.

Actually, Antonio is one of the nation's most affordable large metropolitan area home sales markets. According to SABOR Chairman Bob Jacobs, "Our average and median sales prices continue to to see some growth each month, but at a manageable pace that keeps our city affordable and stable.  We expect this trend to continue throughout the summer."  

The bottom line is this - it's a great year to sell or buy a San Antonio area home.

This concludes our June 2016 San Antonio home sales report.

If you're hoping to buy or sell a San Antonio area home this year, please call on Pat Acquisto, Stephanie Kelley, and Sheryl Sepulveda - award winning Realtors® of the Legacy Powerhouse Group at Keller Williams Legacy, San Antonio (210) 482-3202.  If you are researching listings or seeking articles about buying or selling San Antonio real estate, use the informative research features at sanantoniohomequest.com or our sister site at legacypowerhouse.com.  When it comes to buying or selling residential real estate, The Powerhouse Group offers you the exceptional power of its proven performance.

SAN ANTONIO HOME SALES REPORT FOR MAY 2016

It's May 2016 and San Antonio's housing market continues to race along  to a historic sales record that will easily surpass the previous record set in 2015.  

Last month, there were 2,483 homes sold - a 4% increase over the April 2015 record.  The average home sold for $234,736 - a 4% increase over the 2015 average.  The median price was $198,800 - a 6% increase over 2015.

According to the San Antonio Board of Realtors®,50.54% of the homes on the market in April were listed for $199,000 and below, 45.07% were priced from $200,000 to $499,999, and 4.47% were priced at $500,000 and up.

The average home sold in April was on the market only 59 days - a 2% decrease from 2015.

These data clearly indicate that the San Antonio area's months long sellers market was in full force in April and, with the average seller currently getting 98% of list price this month, it's apparent that San Antonio home sellers will have the edge at least through July when the housing market typically slows down a bit.  

Nonetheless, there are still good conditions in the San Antonio area for home buyers.  Mortgage interest rates remain historically low, loan qualification requirements have eased a bit, and San Antonio home prices are highly affordable compared to similar homes in other large metropolitan markets.

This concludes our May 2016 San Antonio home sales report.

If you're hoping to buy or sell a San Antonio area home this year, please call on Pat Acquisto, Stephanie Kelley, and Sheryl Sepulveda - award winning Realtors® of the Legacy Powerhouse Group at Keller Williams Legacy, San Antonio (210) 482-3202.  If you are researching listings or seeking articles about buying or selling San Antonio real estate, use the informative research features at sanantoniohomequest.com or our sister site at legacypowerhouse.com.  When it comes to buying or selling residential real estate, The Powerhouse Group offers you the exceptional power of its proven performance.

HOW MANY HOMES ARE FOR SALE IN SAN ANTONIO

It's 21 April 2016 and according to the San Antonio Board of Realtors® :

There are 8605 San Antonio area single family homes on the market of which 3531 are already under contract.

The average list price for a San Antonio area single family home is $371,114.

The average San Antonio area single family home is selling for approximately 97.5% of its list price.

The median list price for a San Antonio area single family home is $275,000.

The highest priced San Antonio area home for sale today is for $18,750,000.

The lowest priced San Antonio area home for sale today is for $19,500.

The average time on the market for a San Antonio area single family home is 82 days.

Contact Realtor®  Randy Kelley, our San Antonio home sales research and statistics specialist, at (210) 863-2661, for more information about all San Antonio homes for sale today.

April 2016 San Antonio Home Sales Report

Entering April 2016, it's obvious that San Antonio's metropolitan area is on the glide path to another record breaking home sales year.  In fact, sales activity is so frantic this year that people are asking what's happened to so radically invigorate San Antonio's usually slower paced realty sales environment.

The answer is relatively simple.  

Because of its booming economy, Texas is one of the nation's leading states for incoming businesses and families and San Antonio is one of the top locales where the new arrivals are settling. Mix in the many existing residents buying homes in and around town and you have this year's whirlwind selling and buying situation. 

People buy San Antonio area homes  because they are remarkably affordable compared to other prosperous large metropolitan areas.  According to Bob Jacobs, the San Antonio Board of Realtors Chairman, "Our price increases remain pretty even which is a good sign of our market's stability. While months of inventory remains low at 3.6 months, there are still enough homes available to keep prices from driving up like they do in other parts of the country consistently making this an affordable area to live in."

In the San Antonio area, the majority of homes sold are priced under $200,000. Homes priced between $200,000 and $500,000 make up approximately 41% of the sales market and homes priced over $500,000 make up only approximately 5% of the sales.

San Antonio area homes sell quickly - presently averaging only around 70 days on the market. Exceptionally well prepared homes sell much quicker, sometimes in less than 2 weeks. This year, there's keen competition for the best homes.  Bidding wars are common. 

So, what's on the horizon for San Antonio area home buyer's and sellers.  

As the market builds toward its July peak, the average seller can expect to receive high buyer interest, more competition as the spring and early summer new and resale home inventory rises and, consequently, some weakening of the area's months long sellers' negotiating advantage. 

The average buyer can expect to find a larger inventory of quality homes, excellent mortgage loan interest rates, and a slightly better negotiating situation than at the same time last year.

For anyone contemplating buying or selling a San Antonio area home, this month is the time to act. 

Ball Moss In San Antonio Trees

Home buyers who are unfamiliar with San Antonio's botanical oddities are sometimes freaked out when they see tufts of curious round alien vegetation dotting the branches of our local trees. 

It's ball moss and it always prompts the same questions from mystified prospective home buyers. What is it?  Is it harmful?  Does it impact on the property's value?  Should I ask the seller to remove it?  If I buy the place, should I have it removed and, if so, how much will it cost? 

So, here are the answers according to local experts.

First, ball moss is an interesting little plant. It attaches to anything it can set its clingy little feet into and sits around getting moisture and nutrients from the air. It's not parasitic in that it takes nothing from its landlord other than a place to live. If you want proof, look at the utility lines around San Antonio neighborhoods where you'll see an occasional healthy ball moss cluster residing up there. But there can be a dark side to ball moss in that a large colony of ball moss plants in a single tree can create an undesirable shading effect thereby depriving it's host of sunlight. It takes a lot of ball most to have that effect, but it could happen.

Does ball moss lessen a home's value?  Although extreme ball moss infestation in the surrounding trees might detract from a home's image, it's rare to be so bad that it's a price or property repair negotiation issue.  Very few San Antonio real estate agents have had a home buyer ask the seller to have ball moss removed as a condition for purchasing the property. And, if it were requested, the odds are that the seller will say no.

So, should ball moss even be removed?  First, it's costly to have it removed by a tree service and it's not easily done by picking off the moss sprig by sprig. The moss always comes back as long as there are any seed dispersing ball moss plants residing in the neighborhood. Most San Antonio tree specialists recommend that homeowners just learn to love and live with the odd little plant, however, pruning a tree correctly will often have the side effect of reducing the amount of ball moss residing there.

March 2016 San Antonio Home Sales Report

March 2016 sees San Antonio's home sales coming in like a lion and roaring every day.  There's no indication the March market will go out like a lamb.

So far this year, weekly sales have exceeded the record breaking 2015 sales year. 

Despite concerns that diminishing activity (due to low gas prices) in the nearby Eagle Ford Shale oil fields might dampen San Antonio's home sales market, there has been little or now effect.  It's evident that Antonio's diverse economy is no longer reliant on the oil industry to maintain its vitality.

So, what can local home sellers and buyers expect in the days leading up to the traditional July San Antonio home sales peak.  Here are the indicators:

As of mid-March, compared to the same point last year -

although there's a 10 percent increase in new and resale home inventory (8263 now vs 7545 then), the 2.29 months available inventory remains exceptionally low;

the average home list price is up almost 4% ($363,451 now vs $350,550 then);

the average cumulative time to sell a home has decreased by 5 days (94 days now vs 99 days then);

the most recent average closed sale price has increased 4% over last year ($228,787 now vs $219,621 then).

These indicators point to the near term continuation of San Antonio's months long strong home sellers' market.  So, when it comes to negotiating the best deal, home buyers can expect to encounter strong resale homeowner headwind.  On the other hand, new home builders are presently offering unusually attractive terms in order to move their inventory quickly during the current highly active home sales environment.

This concludes our  March 2016 San Antonio home sales report.

If you're hoping to buy or sell a San Antonio area home this year, please call on Pat Acquisto, Stephanie Kelley, and Sheryl Sepulveda - award winning  Realtors ® of the Legacy Powerhouse Group at  Keller Williams Legacy, San Antonio (210 482-3202) or use the informative features at sanantoniohomequest.com or our sister site at legacypowerhouse.com . When it comes to buying or selling residential real estate, The Powerhouse Group offers you the exceptional power of its proven performance.

February 2016 San Antonio Home Sales Report

February typically heralds the ramp up to San Antonio's most active home sales market and, if this year parallels 2015's record setting residential sales year, February through June 2016 will be exciting months for local home sellers and buyers.

Here's why.

The San Antonio housing market is growing in all areas for total sales, average home listing and sale prices, and home value appreciation. 

The Alamo City's highly active market is driven by the following factors:

San Antonio has one of the nation's healthiest large metropolitan area economies.

The steady flow of in-migrating businesses and the expansion of existing businesses have created a high demand situation for workers in all economic sectors, leading to San Antonio's having the nation's 6th best large metropolitan area unemployment rate (3.5% as of December 2015). 

There are some minor downsides.

In-bound home buyers and local citizens moving into the home buying market are stressing the existing resale and new construction home inventory. Consequently, when it comes to bargaining, home buyers can expect to experience strong seller headwind.

There's plenty of land in the countryside for beautiful new residential developments, but, residents in the new subdivisions face longer and slower commutes to jobs in and around the growing inner-city area (generally defined as being around and inside Loop 1604).  

Although there are some home buying disadvantages to San Antonio's rapid growth, prospective home buyers should keep this in mind.  For the foreseeable future, San Antonio homes should remain highly affordable compared to similar homes in other large cities. For example, as of this month, the mid-priced home buyer can expect to purchase a well prepared home for approximately $190,000 and experience a 3% to 5% yearly appreciation in the home's value.

This concludes our San Antonio home sales report for February 2016.

If you're hoping to buy or sell a San Antonio area home this year, please call on Pat Acquisto, Stephanie Kelley, and Sheryl Sepulveda - award winning  Realtors ® of the  Legacy Powerhouse Group at  Keller Williams Legacy, San Antonio (210 482-3202) or use the informative features at sanantoniohomequest.com or our sister site at legacypowerhouse.com . When it comes to buying or selling residential real estate, The Powerhouse Group offers you the power of its proven performance.

January 2016 San Antonio Home Sales Report

The Antonio Board of Realtors® (SABOR) headline says it all, "2015 a record year for home sales in San Antonio."

According to SABOR, the total number of homes sold in the San Antonio metropolitan area in 2015 was 27,154, beating the old 2006 home sales record by 985 sales.  

The homes sales price average in 2015 was $231,976 (a 6% increase over 2014) and and the median price was $192,800 (a 7% increase over 2014).

Homes sold much faster in 2015, with days on the market decreasing 12 percent to just 60 days.

The average price per square foot for homes sold in 2015 was $106.

According to Bob Jacobs, SABOR's 2016 Chairman of the Board, "We continue to see more and more people getting into the housing market, whether they are buying or selling, and with homes at affordable prices all around the city and surrounding area, there really is something for everyone in this market.  In fact, while the majority of homes sold are still below $200,000, we have seen a gradual shift in more homes being sold in the range between $200,000 and $500,000."

According to Angela Shields, SABOR's president and CEO, "Not only was this a record-breaking year in our real estate market in terms of sales, but December ended with 1,401 sales still pending as we headed into the New Year."  

So, what does 2016 hold for people hoping to buy or sell a San Antonio home?  Barring unpredictable events, analysts predict San Antonio's home sales market to be similar to 2015 with

  • the inventory of newly constructed and resale homes remaining unusually low,
  • pressure on the already limited homes supply increasing, 
  • home list and sales prices slowly and steadily increasing, 
  • average time to sell a home remaining in the 50 to 60 days range
  • the months long seller's market continuing unabated.

That concludes our first San Antonio home sales report for 2016.

If you're hoping to buy or sell a San Antonio area home this year, please call on Pat Acquisto, Stephanie Kelley, and Sheryl Sepulveda - award winning Realtors® of the Legacy Powerhouse Group at Keller Williams Legacy, San Antonio,(210 482-3202) or use our informative features at legacypowerhouse.com. When it comes to buying or selling residential real estate, The Powerhouse Group offers you the power of its proven performance.

December 2015 San Antonio Home Sales Report

If you're looking to buy or sell a San Antonio area home this month or early next year, here are the things you need to know.

The opening of this year's holiday season has seen the  end of the most active home sales year in San Antonio's history.

Although it's hard to say exactly why the market has unexpectedly dwindled more than usual for what's typically the low sales season, here are some probable contributing factors.

First, the new Federal regulations governing mortgage loan closing procedures has created a backlog of unsettled home contract closings both in San Antonio and across the Nation.  Typically, the time to close a home purchase was approximately 30 days but now, under the new procedures, it's taking 45 or more days.  The lag has discouraged many prospective home buyers hoping to quickly find, purchase, and occupy a home.

Second, for many months, San Antonio has suffering a chronic shortage of new and resale homes for sale. The demand/supply imbalance has driven up prices and created a solid sellers' market whereby the average seller can expect to get 97% plus of the home's list price.  Analysts speculate that prospective home buyers are now sitting on the sidelines hoping to find more inventory, lower prices, and a better bargaining position in late winter and early spring next year.

Third, surveys show that concerns about the nation's slow economic recovery, homeland security issues, and the vexing 2016 presidential campaign are driving many home buyers away from the market.

Will these conditions persist into the early months of 2016.  Only time will tell.  We'll keep you advised.

That concludes our final San Antonio home sales report for 2015.

The staff at sanantoniohomequest.com and the award winning Realtors® of the Legacy Powerhouse Group at Keller Williams Legacy, San Antonio, wish you and yours a very Merry Christmas, joyous holiday season, and Happy New Year.

November 2015 San Antonio Home Sales Report

First, Happy Thanksgiving to one and all!

Here's your November 2015 home sales report for the San Antonio metropolitan area, including Bexar, Kendall, Bandera, Medina, Atascosa, Wilson, Guadalupe, and Comal Counties. 

If you're hoping to buy or sell a home in the San Antonio area this fall, you’ll find it’s an unusual realty market for the season.  Why?

Usually, during the fall and early winter months, home sale activity slows significantly, the inventory of available homes rises, and residential listing and sales prices moderate. However, this fall, things are remarkably different.  More homes were sold in the area in September and October of this year than were sold during the previous record setting months for September and October in 2014.  Because of the unseasonable high demand, home prices continue to inch up.  Well prepared listings are selling quickly, and the inventories of new and resale homes remain critically short.

Barring a downturn in the area's dynamic economy, it seems certain that the current aggressive home sales market in the San Antonio metro area will last well into next summer and that home prices will continue to rise as the supply of available homes remains low.

These factors add up to an unbalanced home sales market. Sellers have the upper hand and should be confident that their San Antonio homes are exceptionally marketable and, if well prepared, will sell quickly.  Buyers can expect to experience frustration with the limited home supply and will find tough negotiations to acquire the home of their dreams.

If you are looking to purchase a home in the next 60 days, here’s something to keep in mind.  As we approach the end of the year, look for buyer incentives to be offered in new home subdivisions because the builders will be eager to sell their inventory before the new year.  Home builders don’t usually haggle on their base prices, however they might be willing to throw in additional incentives to encourage you to buy.  To find out where and by whom new home incentives are being offered, call us.

That’s all for this November’s San Antonio home sales report.

If you have home buying or selling questions, need San Antonio area realty or mortgage loan advice or assistance, or just want to learn more about the Alamo City area, please contact Stephanie Kelley at (210) 867-867-8743 or Randy Kelley at (210) 863-2661. Stephanie and Randy are members of the Legacy POWERHOUSE Group, Keller Williams Legacy, San Antonio, Texas.  Our group of highly credentialed Realtors® offers you the power of its proven performance.

October 2015 San Antonio Home Sales Report

The story for this year's San Antonio area home sales has been consistent month after month with record closings, steady listing and sold price increases, and the available home supply struggling to keep up with buyer demand.

The San Antonio Board of Realtors recently released its third quarter housing report.  It shows an 11 percent increase in the number of homes sold inside San Antonio compared to the first three quarters of 2014.  Outside the city limits in Bexar County there was 6.7 percent increase.

It also shows a remarkable increase in the number of homes sold in adjoining counties.  For example, Kendall County reported a 44 percent increase and Wilson County a 4.8 percent increase in home sales.  The increase is indicative of the metropolitan area's dynamic economy (unemployment hovering around 3.7%) and rapid geographic expansion into areas where many new subdivisions are attracting  buyers who are willing to commute  longer distances in exchange for getting a newly constructed and sometimes more affordable home.

Now that the fall sales season is in full swing, all indicators point to a slightly more relaxed homes sales atmosphere.  The number of homes under contract is decreasing and the inventory of homes for sale is increasing.  Home value price inflation is moderating. Although likely temporary, these trends offer some relief for home buyers seeking a better deal during the slower home sales season.  Nonetheless, there's little indication that the metro area's long and strong sellers' market is likely to ebb significantly any time soon.

That's the news for our October 2015 San Antonio home sale 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/(210) 867-8743 or e-mail us at swkrealtor@aol.com  kelleybus@aol.com. Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs. 

September 2015 San Antonio Home Sales Report

This year has set a record for the number of home sales closed in the San Antonio metropolitan area.  

The San Antonio Board Of Realtors reports that, so far this year, when compared to 2014, there has been a 12 percent increase in the number of homes sold and 7 percent increase in the average sales price. 

According to a recent article in the San Antonio Business Journal, "At 51.2 percent, homes priced at less than $200,000 still account for a majority of the sales made in the city, but more expensive sales are beginning to take up a larger chunk of the market.  In August, homes priced between $200,000 and $400,000 made up nearly 44 percent of sales, and homes sold for more than $500,000 accounted for nearly 5 percent of the month's sales.  Eleven homes sold in August were more than $1 million."

According to Mary Ann Jeffers, San Antonio Board of Realtors® 2015 Chairman, "We continue to see incredible growth in our area," noting that, during the late spring and summer sales high season, the traditionally popular communities around town like Fair Oaks Ranch, Shavano Park, Castle Hills, Schertz/Cibolo, Live Oak, and Alamo Heights have received exceptional home buyer interest. Of particular note is neighboring Comal County where the construction of new neighborhoods and the influx of new residents has caused Comal to be ranked as one of the top ten most rapidly growing counties in the nation. 

Now, as the advent of fall and winter heralds typical cooling of San Antonio's home sales market, there are indications that the area might see some downward adjustment of the high sales prices seen during the summer along with an increase in the available homes for sale inventory.  Although it is highly unlikely that lower sales activity during October, November, December, and January will have a major impact on the current strong seller's market, the possibility of somewhat lower prices and more homes to choose from might provide a little relief for home buyers who, up until now, have seen nothing but monthly price increases and low inventory in 2015.

That's the news for our September 2015 San Antonio home sales 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/(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. 

August 2015 San Antonio Home Sales Report

It seems almost everything is unusually hot in-and-around San Antonio this August - especially the climate, the area's thriving economy, and the area's home sales market. In fact, within the last month, San Antonio was recognized by a series of respected local and national publications as one of the nation's hottest cities for economic health, positive demographic trends, and high potential for long term growth and stability.  

Metro San Antonio's excellent economic situation has had an amazing impact on its residential realty market. Home sales volume is at a historic high and home values are rising dramatically.  Because the inventory of homes for sale is barely keeping up with demand, the entire San Antonio metropolitan area has seen an exceptionally strong seller's market for many months.  Both list and sale prices are steadily rising, the average home seller is receiving close to 98% of asking price, and buyers are encountering less seller flexibility and harder negotiations. Unfortunately,  rising home prices are forcing some prospective buyers out of the home purchase market while, at the same time, residential rent prices are also rising.

So, what does the immediate future hold for San Antonio home sales? Historically, San Antonio's realty sales high season ends in July, but this year sales activity is expected to remain unusually active well into the fall.  Realty industry analysts predict a cooler, more casual, and less aggressive San Antonio home sales market starting in late September and lasting until the market heats up again in March.

That's the news for our August 2015 San Antonio home sale 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/(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 2015 San Antonio Home Sales Report

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

Many factors have converged this summer to make San Antonio's realty market historically active. 

Foremost is the fact that the local economy is ranked among the strongest in the nation as evidenced by the city being recently designated as a leading industrial city.

Every key economic sector is reporting strong gains. 

The business community is rapidly expanding.  This year, many business have relocated to the San Antonio area with many more on the way.  

Population growth is high. 

Home values in most neighborhoods are rising steadily. Home sellers have responded accordingly as evidenced by a steep increase in the asking price for homes for sale. 

Buyer response has been exceptionally strong, especially for mid-to-upper priced homes in the moderate $250,000 to $400,000 price range. The more expensive luxury homes market is also selling well. 

It's difficult to reach conclusions as to long term market trends, however, in the short term, it's clear San Antonio's current home sales market will remain strong. 

For those who love stats, here are the key indicators for San Antonio's single family detached home sales as of 19 July 2015. 

There are 9045 active listings, compared to 9298 one year ago. Although the inventory is rising slowly, it remains unusually low for a metro area the size of San Antonio's. That's a strong sign for home sellers. 

The average sales price for the most recent closings is $242,621, compared to last year's $232,179. That's a 4.5% average sales price increase - another good sign for sellers. 

Average cumulative-days-on-the-market (CDOM) for the most recent sales is 75 compared to 91 days last year. Of course, the best prepared and appropriately priced home are selling much quicker - some within just a few days of reaching the market.  During the next 30 days, a slow CDOM upward trend is anticipated as the market eases into its slower late summer/early fall selling season. 

There is only a 2.7 month supply of homes listed for sale but not already contract. Industry analysts see this as a highly unbalanced market strongly favoring sellers over buyers. 

That's all for our July 2015 San Antonio home sales market report. We encourage reader comments and recommendations about how to make our reports more informative. 

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/(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.

June 2015 San Antonio Home Sales Report

This year, San Antonio's home sales market has outpaced January through May sales for all prior years, lending new meaning to the old adage that, at least in 2015, everything is bigger, and better, in Texas - including the buying and selling of real estate.

Now, following many months of frantic sales activity, there are signs that San Antonio's residential realty market has started to slow down just a bit.

San Antonio home sales typically peak in June and fall off gradually during the hotter summer months. The home sales high season is usually over in August as the fall school season approaches.

Because the market was unusually active very early this, there's a relatively high chance that home sales activity has already peaked or will reach peak volume by mid-June.

So far this year, San Antonio has seen an ongoing 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 residential property. Specifically, as of 11 June 2015 compared to 11 June 2014:

available for sale home inventory was down 8.42% (from 9135 down to 8366). That’s a very low inventory for a large metropolitan area like San Antonio;

pending homes sales were up 21.44% (from 2696 up to 2312);

the average closed sale asking price was up 9.55% (from $230,876 up to $252,931);

the average sale closing price was up 9.65% (from $224,534 up to $246,197;

the cumulative time needed to sell the average resale home was down 9.68% (from 93 days down to 84 days).

With only a 3.93 month supply of homes on the market, San Antonio presents an exceptionally positive market for sellers. Homes are currently selling for more than 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.

In light of these factors, here's our advice if you are hoping to buy or sell a San Antonio home during this summer's very active high sales season.

If you're a seller, consult right away with a listing agent to learn the best ways to get your property on the market and seen quickly.

If you're a buyer, quickly engage a residential realty buyer agent to (1) help you find the best homes for sale and (2) help you to get the best price, terms, and conditions for your residential real estate investment.

We offer our services. Call us.

Wishing you a marvelous June 2015, 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 or selling needs. If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to learn more about our wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie).

May 2015 San Antonio Home Sales Report

Where do we go from here?

That's the question on everyone's mind at the end of the most active residential real estate sales quarter in San Antonio's history. 

Spurred on by the area's booming economy, San Antonio's new and resale home market is also booming. Home sellers are cheering their good fortune, however, home buyers are a bit less happy with the conditions.

Why?

For many months, Alamo City home sales activity has been hard pressed to keep up with buyer demand. Usually, during the fall and winter months, our metropolitan area sees significantly fewer home sales - a factor that was surprisingly negligible from September 2014 through this April. Consequently, entering May 2015, under unusually high sales pressure, the market hasn't had an opportunity to replenish its already scarce supply of homes for sale.

Low supply and high demand for any essential commodity means higher prices. That's exactly what the San Antonio realty market is now experiencing as it ramps up to its usual June sales peak. 

The effect is dramatic. The average sales price of homes sold in April was almost 6% over April 2014's average sales price. The average sales price for homes expected to close this month is projected to be almost 7% over May 2014's sales.

In San Antonio's most popular neighborhoods, well prepared homes are selling within days of coming on the market, with many receiving multiple simultaneous competing offers. On the average, it's taking 15 days less time to sell a home than at the same time last year. 

Obviously current conditions strongly favor home sellers over buyers - a factor causing some potential buyers to be frustrated as they see home ownership affordability slipping from their grasp. Unfortunately, San Antonio residential rental prices are also rising rapidly - a factor forcing many people who can't afford to purchase a home to lease a less costly and sometimes less desirable place to live. 

So, with these remarkable strong home sales conditions expected to continue at least through June, what do we recommend for prospective San Antonio home sellers and buyers do do right now?

If you're a seller, consult right away with a highly credentialed listing agent to learn the best ways capitalize on current conditions by getting your property on the market and seen quickly.

If you're a buyer, before prices go higher, quickly engage an experienced residential realty buyers' agent to (1) help you find the best homes for sale and (2) help you to get the best price, terms, and conditions for your residential real estate investment.

For both, be aware that mortgage lenders are having trouble keeping up with their workload. So, don't be surprised if, once you have a home sales contract, your agreed upon closing date slips a little. Your Realtor will help you manage this complication, should it occur.

If you are looking for highly qualified and experienced realty professionals, we offer our services - so don't hesitate to contact us. 

This concludes our May 2015 San Antonio home sales report with wishes for you and yours for a very safe and happy Monday, May 25, Memorial Day holiday. 

If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to learn more about our wonderful Alamo City, please use the information features available at our sanantoniohomequest.com website or call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie). 


April 2015 San Antonio Home Sales Report

HAPPY FIESTA SAN ANTONIO

It's Fiesta month in San Antonio, and during this year's April 16 through 26 Fiesta San Antonio spring festival,  Alamo City home sellers will have ample cause to celebrate.

Simply, the San Antonio metropolitan area is experiencing its healthiest early season residential realty market ever and, if sales continue at the present rate, 2015 will easily beat out 2006 as the area's benchmark sales year. 

Yes, this year, home sellers have ample reason to celebrate, but the celebration might be a lIttle less bright for some home buyers.

Here's why.

Because San Antonio homes are selling quickly, the inventory of available new and resale homes is unusually low and struggling to keep up with demand.

The best listings are going under contract within just a few days of coming on the market.

Home prices are steadily rising.

There's keen competition for the available home inventory.  In the most popular neighborhoods, sellers are receiving multiple simultaneous offers for their homes. Recently, our listing specialist received 4 offers for a listing within 24 hours of its coming on the market.

It's easy to see why our realty market is booming. Every economic factor leading to a dynamic home sales situation is positive for San Antonio -- strong job growth, low unemployment, state and local policies favoring business development, low residential mortgage rates, and the presence of one of the nation's leading shale oil fields right next door.  

A strong economy equals a strong real estate market.  So, it's little wonder that San Antonio is currently ranked as having one of the nation's top ten large metropolitian residential realty markets.

Does this mean home buyers should despair of finding an affordably priced San Antonio area home?  Not yet, but there is some concern that, down the road, lack of affordability might become an issue.

For the time being, home buyers and sellers can be confident that, although our market is big (after all - it's TEXAS) and active (especially this year), it's still unique for its price moderation and affordability.

Nonetheless, if you're hoping to sell or buy a San Antonio area home, it's time to act.

If you're a seller, consult right away with a listing agent to learn the best ways to get your property on the market and seen quickly.

If you're a buyer, quickly engage a residential realty buyer agent to (1) help you find the best homes for sale and (2) help you to get the best price, terms, and conditions for your residential real estate investment.

We offer our services. Call us.

Wishing you a merciful Tax Day (YUK!) and many beautiful sunny days during San Antonio's April 16 thru April 26 Fiesta celebration, 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 or selling needs. If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to learn more about our wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie).


March 2015 San Antonio Home Sales Report

It's March in San Antonio and despite the recent unseasonably wet and cool weather, spring is in the air, flowers are blooming, and the area's residential sales market is already in high gear.

In fact, the home sales environment this month is simultaneously extraordinarily active and strong for sellers and remarkably active but weak for buyers.  Simply put, there are too many buyers for the available inventory of resale and newly constructed homes. 

The imbalance between supply and demand is clearly producing the expected results - higher home listing and sale prices, quicker sales, and intense competition for the best prepared homes.  Yes, sellers are smiling and buyers are starting to fret a bit. 

Current and would-be renters are contributing to this year's short inventory of homes for sale.  San Antonio has been a high cost residential rent city for many months and this year there are more renters than usual entering the home buying market to escape the area's rapidly inflating rent prices.  Simply put, in and around the Alamo City, it's often less expensive to find a home to buy than to rent an apartment, condo, or single family detached home.

Will the home sales market begin to balance out a bit in the coming weeks? Much of San Antonio's intense economic activity has been fueled by the area's oil and gas industries and perhaps the recent decrease in drilling activity in the nearby Eagle Ford Shale fracking field will dampen the market a bit. It remains to be seen, but, if the inventory of available homes doesn't increase significantly by mid-April, some analysts predict home prices might increase as much as 10% over last year's prices.  That would be a remarkable turn of events for the San Antonio metropolitan area where home price increases have historically ranged from 3% to 6% year-over-year. 

As we're frequently pointed out, buyers with good credit can take heart in knowing that mortgage interest rates are expected to remain low in the short term and, even if local home prices continue to inflate at the current rate, it's still possible to find a quality San Antonio area home for a reasonable price compared to a similar home in the nation's other large metropolitan area markets.

This concludes our March 2015 San Antonio home sales report. 

We are Stephanie & Randy Kelley, REALTORS® at Keller Williams Legacy in San Antonio, Texas .  If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to learn more about the wonderful Alamo City, please use the realty research and information features available at this sanantoniohomequest.com website or call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie). 

February 2015 San Antonio Home Sales Report

February typically sees the beginning of the ramp up to San Antonio's most active home sales season, but there may be a cloud on the horizon.  This year, San Antonio area realty analysts and home buyers and sellers are carefully watching the impact of falling oil prices on local home sales.  In the next 6 weeks, will the market heat up in a manner typical for the season, moderate, or even fall back if lower crude oil prices dampens the local economy due to reduced drilling activity in the nearby Eagle Ford shale oil field?

A significant decrease in homes sales activity would herald the end of the amazingly strong market that began in the late winter of 2013 and continued in force throughout 2014.  

Here are the facts.   

San Antonio ended the 2014 residential market in its strongest position since its benchmark 2006 home sales year.  According to the San Antonio Board of REALTORS®, "The San Antonio housing market grew in all areas in 2014 including total sales, average price, and median price.  According to the December 2014 Multiple Listing Service report by the San Antonio Board of REALTORS® a total of 24,735 homes were sold since January, a five percent increase from the same period in 2013.  Average price for the year rose five percent to $218,762, and the median climbed by 6 percent to $180,000."

Local realty market analysts and business economists attribute San Antonio's recent rapid population increase, geographical expansion, job growth, and healthy economic situation at least in part to South Texas' booming oil industry. It's anticipated that a major decrease in local oil field drilling activity will have significant negative impact on the communities nearest the oil fields.  Nonetheless, due to the city's growing economic diversity, a temporary decline in Eagle Ford oil field development and fracking production would likely have only a minimal economic impact on San Antonio's economic health.

Despite the uncertainty generated by the oil price issue, for the time being, San Antonio's home sales market remains strong and exceptionally active.  Because there are too many buyers for the available resale and newly constructed home inventory, it's a strong seller's market, with home prices rising 5 to 6 percent per annum.  There's strong competition for the best prepared homes in the most popular neighborhoods. 

Buyers with good credit can take heart in knowing that mortgage interest rates are expected to remain low in the short term and, considering the affordability of San Antonio homes, it's still possible to find a quality San Antonio area home for a reasonable price compared to a similar home in the nation's other large metropolitan area markets.

This concludes our February 2015 San Antonio home sales.  If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to learn more about the wonderful Alamo City, please use the other information features available at this website or call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie). 


HE_Happy_New_Year.jpgJanuary 2015 San Antonio Home Sales Report

2014 saw the most active San Antonio area resale and new home sales activity since the benchmark 2006 sales year.  

2014's impact was impressive.  Compared to 2013, closed single family home sales increased 4.23% (from 23502 to 24541), average list price increased 4.72% (from $215,075 to $225,729), and average sales price increased 4.92% (from $208,040 to $218,805).  The area ended the year with the lowest inventory of available homes for sale seen in the last decade.

Throughout last year, the nation's leading realty market analysts consistently ranked San Antonio as having one of the United States most successful residential realty markets.

Why?

The reason is easy to see. Since the end of the Great Recession, the entire San Antonio metropolitan area has evolved into an economic powerhouse driven primarily by the rapidly petroleum sector associated the nearby Eagle Ford shale oil field.  Other contributing factors are the area's well funded local government and Federal service components,  combined with the financial impact of having a large Federal service enterprise, a growing retiree community, thriving service industries, plus dynamic educational, medical, financial, tourism, and service industries.

Now, entering 2015, there is the possibility of a significant change in the area's economic circumstances.  Gas and oil field development and the refinery and sale of petroleum products have traditionally been the most significant industries contributing to the state's economic success. Although good for America's motoring public, the recent collapse of crude oil and gas prices might bode ill for Texas' most significant industries.  Economists are watching the situation warily, cautioning a wait and see attitude regarding the long term impact of low petroleum prices on both San Antonio, specifically, and the state in general.

In the face of uncertainty, what does the future hold for San Antonio's home sales in the next 4 months?  Will the market remain as active as in 2014, or pull back under threat of potentially less favorable economic conditions?

Here is the most likely short term answer.

Home sales will remain strong because San Antonio's economy has become highly diversified and, therefore, less reliant on the petroleum industry.

The inventory of newly constructed and resale homes will remain critically low.

Newly constructed and well prepared resale homes will sell quickly.

The market will favor sellers over buyers.

Home prices will likely increase, probably falling within San Antonio's typical 2% to 3% range as opposed to 2014's 5% increase.

As often pointed out in this column, home buyers should take heart in knowing that, historically, San Antonio has a consistent record of moderate but steady home value appreciation and residential sales market stability.  Also, San Antonio area homes are still very affordable when compared to homes in the nation's other large metropolitian markets.

This concludes our January 2015 San Antonio home sales.  If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to learn more about the wonderful Alamo City, please use the other information features available at this website or call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie). 

December 2014 San Antonio Home Sales Report

This December's San Antonio home sales report is brief and to the point.

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

Usually, the fall and early winter residential realty market is the low season for home sales in-and-around San Antonio.  This year, however, the market is likely to remain unseasonably strong through the end of the year.

Although there are many factors contributing to 2014's exceptionally strong home sales market, there is universal agreement that the prime reason is the economic boom fueled by the nearby south Texas Eagle Ford shale oil and gas play.  Other factors are the increasing diversification of San Antonio's  educational, financial, national security, and service sectors and the migration of new in businesses to San Antonio and the nearby rapidly developing towns of Boerne, Blanco, Seguin, Floresville, and La Vernia.

The bottom line is this. San Antonio is a very affordable place to live and work. In fact, according to a recent analysis by HSH.com - a leading publisher of mortgage and consumer loan information - San Antonio has the most affordable large metropolitan area home sales market in Texas.   Using data from the National Association of Realtors, HSH.com found that the average home buyer making $46, 231.29 should qualify to purchase a median priced San Antonio home for $186,400.

What does this good news mean for San Antonio home buyers and sellers for this month and during the Jan through March 2015 sales season?

Because resale home sales are significantly outpacing new listings, there will be a shortage of available homes until late winter into early spring. 

The best prepared homes will sell quickly.

Home listing and sales prices will continue to increase moderately.

The market will strongly favor sellers.

Buyers with good credit can take heart in knowing that mortgage interest rates are expected to remain low in the short term and, considering the affordability of San Antonio homes, it's still possible to find a quality San Antonio area home for a reasonable price compared to a similar home in the nation's other large metropolitan area markets.

That's all for our December 2014 San Antonio home sales report other than to wish you a very merry Christmas and a happy new year.

November  2014 San Antonio Home Sales Report

Greetings and happy Thanksgivings wishes from the SanAntonioHomeQuest.com Realty Solutions Team.

Here's our November 2014 San Antonio home sales report.

This is supposed to be the slow season for San Antonio residential realty sales activity.  During the fall months, the pace of home sales usually slows significantly, the inventory of available homes rises, and residential listing and sales prices moderate.

This fall, conditions are remarkably different.  More homes were sold in San Antonio this September and October than were sold during the previous record setting months for September and October in 2006.  As a consequence of the  unseasonable high demand, San Antonio home prices are rising steadily, listings are selling quickly, and the inventory of new and resale homes is approaching the shortage level.

Due to a its strong economy driven primarily by the energy and service sectors, San Antonio has set a long and enviable record of being relatively immune to national realty market trends.  During the recent Great Recession, San Antonio was only minimally touched by the nation's mortgage loan crisis and realty market downturn.  Today, as prospective home buyers in most of the nation's large metropolitan markets are sitting on the sidelines waiting for better economic conditions and lower prices, San Antonio home buyers are actively scouring the market looking for the best opportunity to take advantage of low residential mortgage rates and hoping to buy a home quickly to stay ahead of rising prices and declining inventory.

Industry analysts predict San Antonio's aggressive home sales market will continue into coming months as home prices continue to appreciate and inventory continues to decline.

The bottom line is this.  For the time being, San Antonio's home sellers and buyers are both in relatively good positions.  Despite steady home price appreciation, sellers can be confident that their San Antonio homes are exceptionally marketable and, if well prepared, will sell quickly.  Buyers can expect to find highly affordable homes in San Antonio  compared to similar properties in other large metropolitan areas. 

In conclusion, here's a timely recommendation for this season's home buyers.  As we approach the end of 2014, explore the buyer incentives offered in new home developments where the builders are eager to sell their inventory before the end of the year.  Although a builder usually won't haggle on price, he might throw in additional incentives to quickly move his inventory.  Call us to find out where and by whom new home incentives are being offered.

That's all for this November's San Antonio home sales report.  If you have home ownership questions, need San Antonio area realty or mortgage loan advice or assistance, or just want to learn more about our wonderful Alamo City, please contact Stephanie Kelley at (210) 867-867-8743 or Randy Kelley at (210) 863-2661.  Our San AntonioHomeQuest.com Realty Solutions Team is always eager to help you with your home buying or selling needs.

October 2014 San Antonio Home Sales Report

2014 has proven to be a remarkable residential realty sales year in the San Antonio metropolitan area.  If this year's late fall market continues at its current pace, 2014  will be the second strongest San Antonio home sales market since the record breaking 2006 sales year.

Compared to September 2013, the average price of homes sold in September 2014 increased 6.35% from $207,485 to $220,660.  Closed sales were up 9.5% from 1853 to 2029.  Cumulative days on the market for sold homes decreased 6.52% from 92 to 86 days.  The inventory of available homes for sale decreased from a 4.60 months to a 4.39 months supply.

Fewer homes selling fast for more money equals a strong sellers' market.  In fact, sellers have dominated San Antonio's home sales market for many months and, because San Antonio's exceptionally strong economy is driving home sales at a near record pace, it's a condition unlikely to fade in the foreseeable future.

Although the statistics favor sellers over buyers, prospective home buyers should take heart in knowing that San Antonio has a consistent record of moderate but steady home value appreciation and sales stability. Also, for the time being, Alamo City area homes are expected to remain very affordable compared to homes in the nation's other large metropolitan areas.

That's all for our October 2014 San Antonio home sales report.
 
Wishing you a delightful Columbus Day holiday and a happy Halloween, 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 needs. 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).

September 2014 San Antonio Home Sales Report

San Antonio’s September 2014 home sales market is truly proving the old adage that everything is bigger, and better, in Texas - including the buying and selling of real estate.

 

Yes, it’s been a Texas size home sales year for the economically strong and growing Antonio metropolitan area.  In 7 of the last 6 months, home sales volume was higher than last year.  Although San Antonio home sales activity typically peaks in June and falls off rapidly as the school season approaches, this year’s market cool down has been unusually slow. Because the home sales high season has lasted much longer than usual, it’s likely that 2014 is on track to be the second most active home sales market that San Antonio has seen since the recording breaking 2006 market.

 

So far this year, there has been a severe 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 7 September 2014 compared to 7 September 2013: 

  • available resale home inventory was down 1.14% (from 9072 down to 8969).  That’s a very low inventory for a large metropolitan area like San Antonio.

  • pending homes sales were up .34% (from 2320 down to 2312).  Note that 2013 was another excellent home sales year that closed with a very low inventory of available homes.

  • the average closed sale asking price was up 5.49% (from $217,145 up to $229,067)

  • the average sale closing price was up 5.63% (from $210,664 up to $222,516

  • the cumulative time needed to sell the average resale home has fallen 4.35% (from 92 days down to 88)


With only a 4.5 month supply of homes on the market, San Antonio presents an exceptionally positive market for sellers.  Homes are currently selling for more than 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 2014 San Antonio home sales 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 needs.  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)


August 2014 San Antonio Home Sales Report

It's August in the Alamo city and, after a relatively mild early summer, San Antonio is now experiencing occasional 100 degree days.  

August heat and the start of the school season usually herald a significant slowdown in home sales.  Last month, we predicted the market was slowing in a manner consistent with the normal seasonal cycle, but now it seems this year is different.  Buoyed by a outburst of favorable economic reports in July, the entire San Antonio metropolitan area is now projected to have an unusually active home sales season through August and into September.

Here are the contributing factors.  San Antonio has become one of the nation's leading economic powerhouses.  The city is next door to the Eagle Ford oil and gas boom.  Its dynamic economy, balanced demographic trends, and glowing long term growth projections reflect a large and vibrant metropolitan area with a strong, stable, and growth oriented personality. 

This year, San Antonio's vibrant economy is on track to generate either the second or third best home sales record since the record breaking 2006 sales year.

What do today's market conditions mean to local home sellers and buyers. Here are the key indicators comparing July 2013 and July 2014:

Home sales were up 5.09% from 2219 to 2332 units.

The average list price was up 5.56% from $223,036 to $235,429.

The average sales price was up 6.17% from $215,939 to $229, 254.

The time on the market to sell a home was down 10.20% from 98 days to 88 days.

According to San Antonio's Multiple Listing Service, as of 10 August 2014, there were 156 fewer homes on the market than last year and the average price of available homes for sale had increased 7.11% from $311,226 to $333,355.

Because the inventory of new and resale homes for sale is unusually low, the current seller's market is likely to continue into the fall before trending toward a more balanced market in the winter and next spring.

That means that home sellers can continue to expect offers close to 97% of their asking price and buyers can expect to encounter less seller flexibility and harder negotiations.  Nonetheless, buyers need not be discouraged because San Antonio area home prices are much more reasonable compared to much higher prices for homes in the nation's other large metropolitan areas.

That's the news for our August 2014 San Antonio home sales report.  We encourage reader comments and recommendations about how to make our reports more informative.

If you have questions, need San Antonio area realty or mortage loan advice or assistance, or just want to learn more about our marvelous Alamo City, please call us at (210) 863-2661 or (210) 868-8743, 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 or selling needs.

July 2014 San Antonio Residential Realty Market Report

Entering July 2014, there are signs that San Antonio's long lasting home sellers' market is trending toward a more balanced condition favoring neither sellers nor buyers.  Compared to July 2013,  there are more resale and newly constructed homes on the market yet fewer homes under contract.  Although list prices continue to rise slowly, the ratio between the average list to sale price is slowly decreasing.

How likely is it that the Alamo City's residential sales market has passed its peak for 2014?  Probably.  Here's why.

Based on many years performance, San Antonio's residential sales market usually follows a predictable seasonal pattern.  Highest sales activity is mid-April through mid-June.  Sales start to fall off during the hot summer months.  The market cools significantly during the fall and winter months.   

The quest for homes featuring pools drops drastically after school starts in late August.  That market won't become active again until the coming spring. 

The least active home sales months are December and January.

Looking forward, San Antonio's exceptionally strong economy is expected to carry the Alamo City's home sales market through the expected season dip into a strong rebound next spring.

If you're contemplating selling your San Antonio home but can wait for better conditions, should you hold off until market conditions improve?  Not necessarily.  Because home sales stay strong throughout the year in some neighborhoods, you should seek the advice of a realty sales professional before deciding  whether to sell or not. 

If you are looking to buy a San Antonio area home, keep this in mind.  The market is improving for you, mortgage interest rates remain exceptionally low, and there's an ample supply of newly constructed and resale homes for your consideration.  So, seek out the best residential realty buyers agent that you can find and go for it!

Whether home seller or buyer, our team is ready to help you get the best price, terms, and conditions for your realty investment.  Randy (210) 863-2661 or Stephanie (210) 867-8743 is available for a free, no pressure - no obligation, consultation.

June 2014 San Antonio Residential Realty Market Report

It's June 2014.  As usual, the Alamo City's long term forecast is for a typically hot and dry summer.  Yet, despite the area's occasionally steamy weather, San Antonio is always a cool place to live and visit.  

Speaking of visiting, San Antonio is famous for its vibrant tourism industry.  This year is no exception. Tourist traffic on the sidewalks of our famous River Walk is brisk and San Antonio's Fiesta Texas and Sea World theme parks are prepared for a bustling tourist season.  
 
Although tourism has always been a major contributor to San Antonio's economic health, the home of the Alamo is also home to an increasingly diverse set of education, medical, aviation, aerospace, bio-science, information technology, and oil and gas industries.  One of the most important is national defense.

San Antonio's large active military establishment and retired uniformed services communities have earned the city a distinctive nickname - Military City USA.  Its military heritage dates back to the 1718 founding of the city, and men and women in uniform have made an enormous contribution to to the city's economy throughout its history. Now, San Antonio's Joint Base San Antonio (Randolph Air Force Base, Lackland Air Force Base, Fort Sam Houston, and the San Antonio Military Medical Center, aka SAMMC ) provides critical education, training, medical treatment, and military intelligence services in support of the nation's defense establishment.

This year, because San Antonio's economy is booming, its realty market is feverish.  The foreclosure and short sale rate is minimal, there's a shortage of new and resale homes for sale and list and sale prices are rising.  Consequently, home sellers have the advantage when negotiating with buyers.   Because of the influx of new residents, it's unlikely that anything other than a great increase in mortgage rates will significantly cool San Antonio's hot residential market. 

In light of these factors, here's our advice if you are hoping to buy or sell a San Antonio home during this summer's very active high sales season.

If you're a seller, consult right away with a listing agent to learn the best ways to get your property on the market and seen quickly. 

If you're a buyer, quickly engage a residential realty buyer agent to (1) help you find the best homes for sale and (2) help you to get the best price, terms, and conditions for your residential real estate investment. 

We offer our services. Call us. 

Wishing you a marvelous June 2014, 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 or selling needs. If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to learn more about our wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie).

May 2014 San Antonio Residential Realty Market Report

It's strange to be able to repeat a monthly San Antonio residential realty market report, but all of the indicators and factors reported in May 2013 are reflected in this month's report.

Specifically -

San Antonio new and resale home sales are booming.

The inventory of available new and resale homes is unusually low and struggling to keep up with demand.

The best listings are quickly going under contract - many within hours of coming on the market.

Home prices are steadily rising.

In the most popular neighborhoods, sellers are receiving multiple simultaneous offers for their homes.

It's easy to see why our realty market is booming. Every economic factor leading to a dynamic home sales situation is positive for San Antonio -- strong job growth, low unemployment, state and local policies favoring business development, low residential mortgage rates, and the presence of one of the nation's boom town shale oil fields right next door.

So, it's little wonder that San Antonio is currently ranked as having one of the nation's top 5 large metropolitian residential realty markets.

Does this mean home buyers should despair of finding an affordably priced San Antonio area home?

Absolutely not!

Home buyers and sellers can be confident that, although our market is big (after all - it's TEXAS) and active (especially this year), it's still unique for its price moderation and affordability.

So, if you're hoping to sell or buy a San Antonio area home, it's time to act.

If you're a seller, consult right away with a listing agent to learn the best ways to get your property on the market and seen quickly.

If you're a buyer, quickly engage a residential realty buyer agent to (1) help you find the best homes for sale and (2) help you to get the best price, terms, and conditions for your residential real estate investment.

We offer our services. Call us.

Wishing you a marvelous May and a safe and happy Memorial Day 2014 holiday, 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 or selling needs. If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to learn more about our wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie).


April 2014 San Antonio Residential Realty Market Report

Culturally, ethnically, and historically, San Antonio has long been recognized as one of the nation's unique cities. Now, in the second decade of the 21st century, the city and the surrounding metropolitan area is ranked as one of the country's leading growth centers for new and relocating businesses, home ownership, rental investments, and commercial real estate. Consequently, it's no wonder that the Alamo City was recently ranked as the nation's 5th most rapidly growing large metropolitan area. 

Why is the San Antonio area growing so fast?

The city and the surrounding region are economically and demographically strong. In recent months, San Antonio has experienced an influx of retiree families, job seekers, military transfers and corporate relocations. Significantly, the ongoing expansion of the nearby Eagle ford shale oil play is infusing previously unimagined money and manpower into San Antonio's economy. 

With area unemployment hovering at 5.4%, conditions are highly favorable for producing many home buyers eager to take advantage of San Antonio's highly affordable homes.

So, what does so much good news mean for home buyers and sellers?

Here are the significant indicators as of Sunday, 6 April 2014.

Active listings: 8482 vs 9068 last year - a 6.46% decrease. Although the inventory is increasing rapidly as more home sellers enter the market to take advantage of the area's April through June home selling high season, a continuing shortage of available homes is likely to persist for many weeks. That's a situation favoring sellers over buyers.

Average sales price for the most recently closed sales: $211,954 vs $194,181 last year - a 9.15% average price increase clearly indicating a market favoring sellers over buyers.

Average cumulative days on the market for most recent sales: 105 vs 123 last year - a 14.63% decrease indicating homes are selling much faster than last year. This is another situation benefiting sellers over buyers.

Although the statistics favor sellers over buyers, prospective home buyers should take heart in knowing that San Antonio has a consistent record of moderate but steady home value appreciation and sales stability. Also, for the time being, Alamo City area homes are expected to remain very affordable compared to homes in the nation's other large metropolitan areas.

That's all for our April 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. 

March 2014 San Antonio Metropolitan Area Residential Market 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 use this 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.


February 2014 San Antonio Residential Realty Market Report

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

Why not?

The Alamo City is located at the front gate of the highly lucrative and rapidly growing Eagle Ford shale oil and natural gas field.

The entire San Antonio metropolitan area is attracting a diverse mix of new homegrown and relocating businesses.

The area has one of the lowest large metropolitan area unemployment rates in the nation.

Population growth is steady and well supported by the local economy and the area's health, private, and governmental services infrastructures.

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

Let's look.  As of 3 February 2014:

Reasonably priced and well prepared resale homes are selling exceptionally fast 
and new home builders are putting new inventory into production as quickly as possible.

There are 7847 new and resale homes listed for sale compared to 8520 one year ago.

The listings inventory is exceptionally low but will likely trend slowly upward as late winter/early spring listings are brought to market.  Nonethless, for the time being, the market has drifted downward into the 4 months supply range, reflecting a highly unbalanced market favoring sellers over buyers.

The average sales price for the most recent closings is $195,484 compared to last February's $183,834.  

Both list and sales prices are steadily rising - a trend likely to continue through the higher paced late winter/spring/early summer home sales high season.

Although industry analysts see these data as reflecting a strong seller's market, home buyers can take heart in knowing that San Antonio homes are still reasonably priced and highly affordable when compared to homes in the Nation's other large metropolitan markets.

That's all for our February 2014 San Antonio residential realty market report.

We encourage reader comments and recommendations about how to make our reports more informative and useful.

If you have questions, need San Antonio realty or mortgage loan advice and 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 fill out the form below.

Remember, our never ending goal is to help you get the best price, terms, and conditions for your residential realty investment.

 





















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December 2014 San Antonio Home Sales Report

This December's San Antonio home sales report is brief and to the point.

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

Usually, the fall and early winter residential realty market is the low season for home sales in-and-around San Antonio.  This year, however, the market is likely to remain unseasonably strong through the end of the year.

Although there are many factors contributing to 2014's exceptionally strong home sales market, there is universal agreement that the prime reason is the economic boom fueled by the nearby south Texas Eagle Ford shale oil and gas play.  Other factors are the increasing diversification of San Antonio's  educational, financial, national security, and service sectors and the migration of new in businesses to San Antonio and the nearby rapidly developing towns of Boerne, Blanco, Seguin, Floresville, and La Vernia.

The bottom line is this. San Antonio is a very affordable place to live and work. In fact, according to a recent analysis by HSH.com - a leading publisher of mortgage and consumer loan information - San Antonio has the most affordable large metropolitan area home sales market in Texas.   Using data from the National Association of Realtors, HSH.com found that the average home buyer making $46, 231.29 should qualify to purchase a median priced San Antonio home for $186,400.

What does this good news mean for San Antonio home buyers and sellers for this month and during the Jan through March 2015 sales season?

Because resale home sales are significantly outpacing new listings, there will be a shortage of available homes until late winter into early spring. 

The best prepared homes will sell quickly.

Home listing and sales prices will continue to increase moderately.

The market will strongly favor sellers.

Buyers with good credit can take heart in knowing that mortgage interest rates are expected to remain low in the short term and, considering the affordability of San Antonio homes, it's still possible to find a quality San Antonio area home for a reasonable price compared to a similar home in the nation's other large metropolitan area markets.

That's all for our December 2014 San Antonio home sales report other than to wish you a very merry Christmas and a happy new year.

November  2014 San Antonio Home Sales Report

Greetings and happy Thanksgivings wishes from the SanAntonioHomeQuest.com Realty Solutions Team.

Here's our November 2014 San Antonio home sales report.

This is supposed to be the slow season for San Antonio residential realty sales activity.  During the fall months, the pace of home sales usually slows significantly, the inventory of available homes rises, and residential listing and sales prices moderate.

This fall, conditions are remarkably different.  More homes were sold in San Antonio this September and October than were sold during the previous record setting months for September and October in 2006.  As a consequence of the  unseasonable high demand, San Antonio home prices are rising steadily, listings are selling quickly, and the inventory of new and resale homes is approaching the shortage level.

Due to a its strong economy driven primarily by the energy and service sectors, San Antonio has set a long and enviable record of being relatively immune to national realty market trends.  During the recent Great Recession, San Antonio was only minimally touched by the nation's mortgage loan crisis and realty market downturn.  Today, as prospective home buyers in most of the nation's large metropolitan markets are sitting on the sidelines waiting for better economic conditions and lower prices, San Antonio home buyers are actively scouring the market looking for the best opportunity to take advantage of low residential mortgage rates and hoping to buy a home quickly to stay ahead of rising prices and declining inventory.

Industry analysts predict San Antonio's aggressive home sales market will continue into coming months as home prices continue to appreciate and inventory continues to decline.

The bottom line is this.  For the time being, San Antonio's home sellers and buyers are both in relatively good positions.  Despite steady home price appreciation, sellers can be confident that their San Antonio homes are exceptionally marketable and, if well prepared, will sell quickly.  Buyers can expect to find highly affordable homes in San Antonio  compared to similar properties in other large metropolitan areas. 

In conclusion, here's a timely recommendation for this season's home buyers.  As we approach the end of 2014, explore the buyer incentives offered in new home developments where the builders are eager to sell their inventory before the end of the year.  Although a builder usually won't haggle on price, he might throw in additional incentives to quickly move his inventory.  Call us to find out where and by whom new home incentives are being offered.

That's all for this November's San Antonio home sales report.  If you have home ownership questions, need San Antonio area realty or mortgage loan advice or assistance, or just want to learn more about our wonderful Alamo City, please contact Stephanie Kelley at (210) 867-867-8743 or Randy Kelley at (210) 863-2661.  Our San AntonioHomeQuest.com Realty Solutions Team is always eager to help you with your home buying or selling needs.

October 2014 San Antonio Home Sales Report

2014 has proven to be a remarkable residential realty sales year in the San Antonio metropolitan area.  If this year's late fall market continues at its current pace, 2014  will be the second strongest San Antonio home sales market since the record breaking 2006 sales year.

Compared to September 2013, the average price of homes sold in September 2014 increased 6.35% from $207,485 to $220,660.  Closed sales were up 9.5% from 1853 to 2029.  Cumulative days on the market for sold homes decreased 6.52% from 92 to 86 days.  The inventory of available homes for sale decreased from a 4.60 months to a 4.39 months supply.

Fewer homes selling fast for more money equals a strong sellers' market.  In fact, sellers have dominated San Antonio's home sales market for many months and, because San Antonio's exceptionally strong economy is driving home sales at a near record pace, it's a condition unlikely to fade in the foreseeable future.

Although the statistics favor sellers over buyers, prospective home buyers should take heart in knowing that San Antonio has a consistent record of moderate but steady home value appreciation and sales stability. Also, for the time being, Alamo City area homes are expected to remain very affordable compared to homes in the nation's other large metropolitan areas.

That's all for our October 2014 San Antonio home sales report.
 
Wishing you a delightful Columbus Day holiday and a happy Halloween, 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 needs. 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).

September 2014 San Antonio Home Sales Report

San Antonio’s September 2014 home sales market is truly proving the old adage that everything is bigger, and better, in Texas - including the buying and selling of real estate.

 

Yes, it’s been a Texas size home sales year for the economically strong and growing Antonio metropolitan area.  In 7 of the last 6 months, home sales volume was higher than last year.  Although San Antonio home sales activity typically peaks in June and falls off rapidly as the school season approaches, this year’s market cool down has been unusually slow. Because the home sales high season has lasted much longer than usual, it’s likely that 2014 is on track to be the second most active home sales market that San Antonio has seen since the recording breaking 2006 market.

 

So far this year, there has been a severe 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 7 September 2014 compared to 7 September 2013: 

  • available resale home inventory was down 1.14% (from 9072 down to 8969).  That’s a very low inventory for a large metropolitan area like San Antonio.

  • pending homes sales were up .34% (from 2320 down to 2312).  Note that 2013 was another excellent home sales year that closed with a very low inventory of available homes.

  • the average closed sale asking price was up 5.49% (from $217,145 up to $229,067)

  • the average sale closing price was up 5.63% (from $210,664 up to $222,516

  • the cumulative time needed to sell the average resale home has fallen 4.35% (from 92 days down to 88)


With only a 4.5 month supply of homes on the market, San Antonio presents an exceptionally positive market for sellers.  Homes are currently selling for more than 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 2014 San Antonio home sales 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 needs.  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)


August 2014 San Antonio Home Sales Report

It's August in the Alamo city and, after a relatively mild early summer, San Antonio is now experiencing occasional 100 degree days.  

August heat and the start of the school season usually herald a significant slowdown in home sales.  Last month, we predicted the market was slowing in a manner consistent with the normal seasonal cycle, but now it seems this year is different.  Buoyed by a outburst of favorable economic reports in July, the entire San Antonio metropolitan area is now projected to have an unusually active home sales season through August and into September.

Here are the contributing factors.  San Antonio has become one of the nation's leading economic powerhouses.  The city is next door to the Eagle Ford oil and gas boom.  Its dynamic economy, balanced demographic trends, and glowing long term growth projections reflect a large and vibrant metropolitan area with a strong, stable, and growth oriented personality. 

This year, San Antonio's vibrant economy is on track to generate either the second or third best home sales record since the record breaking 2006 sales year.

What do today's market conditions mean to local home sellers and buyers. Here are the key indicators comparing July 2013 and July 2014:

Home sales were up 5.09% from 2219 to 2332 units.

The average list price was up 5.56% from $223,036 to $235,429.

The average sales price was up 6.17% from $215,939 to $229, 254.

The time on the market to sell a home was down 10.20% from 98 days to 88 days.

According to San Antonio's Multiple Listing Service, as of 10 August 2014, there were 156 fewer homes on the market than last year and the average price of available homes for sale had increased 7.11% from $311,226 to $333,355.

Because the inventory of new and resale homes for sale is unusually low, the current seller's market is likely to continue into the fall before trending toward a more balanced market in the winter and next spring.

That means that home sellers can continue to expect offers close to 97% of their asking price and buyers can expect to encounter less seller flexibility and harder negotiations.  Nonetheless, buyers need not be discouraged because San Antonio area home prices are much more reasonable compared to much higher prices for homes in the nation's other large metropolitan areas.

That's the news for our August 2014 San Antonio home sales report.  We encourage reader comments and recommendations about how to make our reports more informative.

If you have questions, need San Antonio area realty or mortage loan advice or assistance, or just want to learn more about our marvelous Alamo City, please call us at (210) 863-2661 or (210) 868-8743, 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 or selling needs.

July 2014 San Antonio Residential Realty Market Report

Entering July 2014, there are signs that San Antonio's long lasting home sellers' market is trending toward a more balanced condition favoring neither sellers nor buyers.  Compared to July 2013,  there are more resale and newly constructed homes on the market yet fewer homes under contract.  Although list prices continue to rise slowly, the ratio between the average list to sale price is slowly decreasing.

How likely is it that the Alamo City's residential sales market has passed its peak for 2014?  Probably.  Here's why.

Based on many years performance, San Antonio's residential sales market usually follows a predictable seasonal pattern.  Highest sales activity is mid-April through mid-June.  Sales start to fall off during the hot summer months.  The market cools significantly during the fall and winter months.   

The quest for homes featuring pools drops drastically after school starts in late August.  That market won't become active again until the coming spring. 

The least active home sales months are December and January.

Looking forward, San Antonio's exceptionally strong economy is expected to carry the Alamo City's home sales market through the expected season dip into a strong rebound next spring.

If you're contemplating selling your San Antonio home but can wait for better conditions, should you hold off until market conditions improve?  Not necessarily.  Because home sales stay strong throughout the year in some neighborhoods, you should seek the advice of a realty sales professional before deciding  whether to sell or not. 

If you are looking to buy a San Antonio area home, keep this in mind.  The market is improving for you, mortgage interest rates remain exceptionally low, and there's an ample supply of newly constructed and resale homes for your consideration.  So, seek out the best residential realty buyers agent that you can find and go for it!

Whether home seller or buyer, our team is ready to help you get the best price, terms, and conditions for your realty investment.  Randy (210) 863-2661 or Stephanie (210) 867-8743 is available for a free, no pressure - no obligation, consultation.

June 2014 San Antonio Residential Realty Market Report

It's June 2014.  As usual, the Alamo City's long term forecast is for a typically hot and dry summer.  Yet, despite the area's occasionally steamy weather, San Antonio is always a cool place to live and visit.  

Speaking of visiting, San Antonio is famous for its vibrant tourism industry.  This year is no exception. Tourist traffic on the sidewalks of our famous River Walk is brisk and San Antonio's Fiesta Texas and Sea World theme parks are prepared for a bustling tourist season.  
 
Although tourism has always been a major contributor to San Antonio's economic health, the home of the Alamo is also home to an increasingly diverse set of education, medical, aviation, aerospace, bio-science, information technology, and oil and gas industries.  One of the most important is national defense.

San Antonio's large active military establishment and retired uniformed services communities have earned the city a distinctive nickname - Military City USA.  Its military heritage dates back to the 1718 founding of the city, and men and women in uniform have made an enormous contribution to to the city's economy throughout its history. Now, San Antonio's Joint Base San Antonio (Randolph Air Force Base, Lackland Air Force Base, Fort Sam Houston, and the San Antonio Military Medical Center, aka SAMMC ) provides critical education, training, medical treatment, and military intelligence services in support of the nation's defense establishment.

This year, because San Antonio's economy is booming, its realty market is feverish.  The foreclosure and short sale rate is minimal, there's a shortage of new and resale homes for sale and list and sale prices are rising.  Consequently, home sellers have the advantage when negotiating with buyers.   Because of the influx of new residents, it's unlikely that anything other than a great increase in mortgage rates will significantly cool San Antonio's hot residential market. 

In light of these factors, here's our advice if you are hoping to buy or sell a San Antonio home during this summer's very active high sales season.

If you're a seller, consult right away with a listing agent to learn the best ways to get your property on the market and seen quickly. 

If you're a buyer, quickly engage a residential realty buyer agent to (1) help you find the best homes for sale and (2) help you to get the best price, terms, and conditions for your residential real estate investment. 

We offer our services. Call us. 

Wishing you a marvelous June 2014, 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 or selling needs. If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to learn more about our wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie).

May 2014 San Antonio Residential Realty Market Report

It's strange to be able to repeat a monthly San Antonio residential realty market report, but all of the indicators and factors reported in May 2013 are reflected in this month's report.

Specifically -

San Antonio new and resale home sales are booming.

The inventory of available new and resale homes is unusually low and struggling to keep up with demand.

The best listings are quickly going under contract - many within hours of coming on the market.

Home prices are steadily rising.

In the most popular neighborhoods, sellers are receiving multiple simultaneous offers for their homes.

It's easy to see why our realty market is booming. Every economic factor leading to a dynamic home sales situation is positive for San Antonio -- strong job growth, low unemployment, state and local policies favoring business development, low residential mortgage rates, and the presence of one of the nation's boom town shale oil fields right next door.

So, it's little wonder that San Antonio is currently ranked as having one of the nation's top 5 large metropolitian residential realty markets.

Does this mean home buyers should despair of finding an affordably priced San Antonio area home?

Absolutely not!

Home buyers and sellers can be confident that, although our market is big (after all - it's TEXAS) and active (especially this year), it's still unique for its price moderation and affordability.

So, if you're hoping to sell or buy a San Antonio area home, it's time to act.

If you're a seller, consult right away with a listing agent to learn the best ways to get your property on the market and seen quickly.

If you're a buyer, quickly engage a residential realty buyer agent to (1) help you find the best homes for sale and (2) help you to get the best price, terms, and conditions for your residential real estate investment.

We offer our services. Call us.

Wishing you a marvelous May and a safe and happy Memorial Day 2014 holiday, 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 or selling needs. If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to learn more about our wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie).


April 2014 San Antonio Residential Realty Market Report

Culturally, ethnically, and historically, San Antonio has long been recognized as one of the nation's unique cities. Now, in the second decade of the 21st century, the city and the surrounding metropolitan area is ranked as one of the country's leading growth centers for new and relocating businesses, home ownership, rental investments, and commercial real estate. Consequently, it's no wonder that the Alamo City was recently ranked as the nation's 5th most rapidly growing large metropolitan area. 

Why is the San Antonio area growing so fast?

The city and the surrounding region are economically and demographically strong. In recent months, San Antonio has experienced an influx of retiree families, job seekers, military transfers and corporate relocations. Significantly, the ongoing expansion of the nearby Eagle ford shale oil play is infusing previously unimagined money and manpower into San Antonio's economy. 

With area unemployment hovering at 5.4%, conditions are highly favorable for producing many home buyers eager to take advantage of San Antonio's highly affordable homes.

So, what does so much good news mean for home buyers and sellers?

Here are the significant indicators as of Sunday, 6 April 2014.

Active listings: 8482 vs 9068 last year - a 6.46% decrease. Although the inventory is increasing rapidly as more home sellers enter the market to take advantage of the area's April through June home selling high season, a continuing shortage of available homes is likely to persist for many weeks. That's a situation favoring sellers over buyers.

Average sales price for the most recently closed sales: $211,954 vs $194,181 last year - a 9.15% average price increase clearly indicating a market favoring sellers over buyers.

Average cumulative days on the market for most recent sales: 105 vs 123 last year - a 14.63% decrease indicating homes are selling much faster than last year. This is another situation benefiting sellers over buyers.

Although the statistics favor sellers over buyers, prospective home buyers should take heart in knowing that San Antonio has a consistent record of moderate but steady home value appreciation and sales stability. Also, for the time being, Alamo City area homes are expected to remain very affordable compared to homes in the nation's other large metropolitan areas.

That's all for our April 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. 

March 2014 San Antonio Metropolitan Area Residential Market 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 use this 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.


February 2014 San Antonio Residential Realty Market Report

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

Why not?

The Alamo City is located at the front gate of the highly lucrative and rapidly growing Eagle Ford shale oil and natural gas field.

The entire San Antonio metropolitan area is attracting a diverse mix of new homegrown and relocating businesses.

The area has one of the lowest large metropolitan area unemployment rates in the nation.

Population growth is steady and well supported by the local economy and the area's health, private, and governmental services infrastructures.

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

Let's look.  As of 3 February 2014:

Reasonably priced and well prepared resale homes are selling exceptionally fast 
and new home builders are putting new inventory into production as quickly as possible.

There are 7847 new and resale homes listed for sale compared to 8520 one year ago.

The listings inventory is exceptionally low but will likely trend slowly upward as late winter/early spring listings are brought to market.  Nonethless, for the time being, the market has drifted downward into the 4 months supply range, reflecting a highly unbalanced market favoring sellers over buyers.

The average sales price for the most recent closings is $195,484 compared to last February's $183,834.  

Both list and sales prices are steadily rising - a trend likely to continue through the higher paced late winter/spring/early summer home sales high season.

Although industry analysts see these data as reflecting a strong seller's market, home buyers can take heart in knowing that San Antonio homes are still reasonably priced and highly affordable when compared to homes in the Nation's other large metropolitan markets.

That's all for our February 2014 San Antonio residential realty market report.

We encourage reader comments and recommendations about how to make our reports more informative and useful.

If you have questions, need San Antonio realty or mortgage loan advice and 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 fill out the form below.

Remember, our never ending goal is to help you get the best price, terms, and conditions for your residential realty investment.

 





















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Keller Williams Legacy

Stephanie and Randy Kelley

Realtors

1102 E. Sonterra Blvd. #106San AntonioTX78258
Cell:(210) 867-8743
Business:(210) 867-8743
Fax:(210) 493-4669
License #:425438

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