San Antonio area home sales shoot up - the market looks good for buyers and sellers

According to recent statistics from the San Antonio Board of Realtors, home sales in the San Antonio metro and Bexar County increased by 28 percent in March from March 2009. Over 1,700 houses were sold. First-quarter 2010 sales were up 12 percent from a year ago.

The 1,849 pending sales at the end of the month were the most since August of 2007, and most likely reflect the rush of first-time home buyers to take advantage of the tax credit that expires at the end of April.

The average days on market were 90, a sign of a healthy market. The average time on market was 103 days last March.

Builders and home sellers don’t need to give up after April 30, though. Since there is such a large military presence in San Antonio, there should still be demand for homes from active-duty military buyers. The IRS allows them an extra year to use the tax credits if they have been deployed outside the US for at least 90 days from December 31, 2008 to May 1, 2010.

For instance, first-time buyers might be interested in this home in Schertz, on the northeast side of San Antonio close to Randolph AFB and with an easy commute to Fort Sam Houston. Hint, hint.