Combine San Antonio's relatively stable economy with historically low interest rates and the result is a booming San Antonio Real Estate market. If you are thinking of selling your home, now is the time.
According to the San Antonio Board of Realtors (SABOR), San Antonio's housing inventory in March 2013 fell to 5.3 months, down from 6.6 months this same time last year. In San Antonio, once the housing inventory falls below the six month mark, it is generally considered a "seller's market".
In March, an impressive 96.9% of homes sold for list price. Houses are averaging only 90 days on the market, down from February's 99 days.
SABOR reports 1,826 total home sales in March of this year -- a 9% increase from this time last year. Of the total sales, 66.8 percent of homes were in the under $200,000 price range. 29.2% of homes sold were in the $200,000 to $500,000 price range and 3.9 percent of homes sold last month were more than $500,000.
A Snapshot of the Market By Area
According to the Texas Association of Realtors, last month in:
- Alamo Heights inventory was down 40.2% from a year ago. First quarter sales were up by 56% from the same time last year.
- Terrell Hills inventory was down 41.8% from a year ago. First quarter sales were up by 12.5% from the same time last year.
- Olmos Park inventory was down 53.6% from a year ago. First quarter sales were up by 20% from the same time last year.
- Monte Vista inventory was down 56.6% from a year ago. First quarter sales were up by 62.5% from the same time last year.
Low housing inventory and low interest rates together help create an ideal environment to sell your home. For a free market analysis of your home, please contact Jennifer Perloff.
Be sure to check back soon for more information on the San Antonio Real Estate market.