According to the most recent data released from The Texas A & M Real Estate Center San Antonio is definitely a seller’s market. If we dig deeper into the data we would find that some areas of San Antonio are hotter than others and will demand a higher per square foot average. Realtors looking at the data are going to be aggressive with their listings in any of the high demand areas in San Antonio, and that applies heavily to the San Antonio Stone Oak area.
Out of state buyers that are thinking they are going to find a great deal in a high demand area may be in for a surprise. Hopefully Realtors are not only educating their clients on the specifics of an area such as schools, distance to work, and other relevant living facts, but also on how to put forward a winning offer in a hot market area like Stone Oak.
Homes in the San Antonio area are selling on average in 4 less days than last year, and at a higher price per square foot. Housing inventory for the area sits at a low 3.8 and is steadily dropping. If this downward trend continues, San Antonio should expect to be around a 3.6 by the Summer of 2015.
With all that being said, why aren’t more home owners wanting to sell? Are they just comfortable with where they are and not wanting to move up? Are the kids moving back home after college and stopping Mom and Dad from deciding to down size?
New home builders are struggling to keep up with the pent up demand. The new build time has stretched from an average of 3.5 months to 5 months. That leaves a lot of opportunity for short term rentals, storage centers, and rental homes. Incidentally, all of the above mentioned options are also in short supply and average costs are also on the rise.
Whatever the reasons are for the low “Home for Sale” inventory levels in San Antonio, one thing is sure, a well staged home appropriately priced is going to have a lot of willing buyers. It is imperative that home sellers and buyers align themselves with a realtor who knows the San Antonio market and its high demand areas. As a buyer you may not get but one chance at making an offer on the home of your dreams, and as a seller you are going to want to have the best offers presented.
