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.