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.
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.