San Antonio TX Real Estate-How Long Will it Take to Sell My House

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Real Estate Agent with RE/MAX Access 574299

San Antonio TX Real Estate-How Long Will it Take to Sell My House

 
Being a San Antonio area Realtor®, I get many questions and a big one is, "how long will it take you to sell my house?"  I would love to be able to tell you to the day how long it will take you to sell your San Antonio area home.  If I could do that with complete accuracy, I am pretty sure I would be the most popular San Antonio Realtor® there was, (well...I would be EVEN more popular :). ).  The truth is, is that there is no crystal ball to give that exact number of days of how long it will take to sell your home.  
 
However, no worries.  There are ways in which I can get an indication of how long it will take to sell your home.  I first try to get an indication of how the Real Estate Market is doing in your particular area.  When I meet with a seller, I like to get as much information as I can possibly get about your home, condition, upgrades etc.  I will then compile a Comparative Market Analysis for you to give you the low down about what price range you should place your home in to successfully sell your San Antonio TX area home.  I will also calculate the absorption rate in your particular neighborhood.  What's an absorption rate you may be asking?  Well, it's a calculation many Realtors® use to give a seller an idea of how many months of inventory of homes are available in your neighborhood.  It can tell us based on the answers whether you are in a buyer's market or a seller's market.  Those answers will let you know as a seller where you want to place your home on the market based on your needs.  
 
How do we get an absorption rate and what do the numbers mean?  Well, I will first look up your San Antonio subdivision in our MLS and pick a time frame such as 6 months.  I will then add up the number of Sold Homes during that time frame.  Let's just say your neighborhood had 18 sold homes in the past 6 months.  I will take that number and divide it by the number of months I am using.  That give me the number 3 (18/6).  I will then take the number of available homes for sale in that same neighborhood, let's say that number is 25 and divide it by my original answer which is 3 (25/3).  In this case the answer would be 8.3 (I cheated and used a calculator for all my calculations).  This means that there is 8.3 months of supply of homes for that particular San Antonio neighborhood.  Whenever you have less than 6 months of supply of homes, it indicates a seller's market, but because you see that the number is higher than 6 months at 8.3, this indicates a buyer's market
 
Why is that information important to you as the home seller?  Well, in a buyer's market that means that there is more supply than there is demand.  Because of this, buyers have a lot of inventory to choose from.  When supply is greater than demand, in order for a quicker sale, the price needs to be very competitive (in the lower range).  I could probably safely tell you that most neighborhoods in San Antonio are currently experiencing a buyer's market
 
Based on that Comparative Market Analysis and where you choose to price your home based on the additional information I present you with the absorption rate, I can look at or give you a good guestimate on how long it will take you to sell your home.  Pretty neat, huh :).
 
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Posted by

Brenda Mullen – San Antonio Texas Real Estate Professional

Brenda Mullen Your San Antonio TX Real Estate Agent
 
Selling a San Antonio Texas area home involves many steps and having an experienced  San Antonio  Texas Real Estate Agent by your side will make the transaction run a lot smoother. I would love to be your San Antonio Texas Area Real Estate Professional! I assist both buyers and sellers in the San Antonio Texas area with either the purchase and or sale of residential real estate.
 
As an Accredited Buyer’s Agent, I have received special training to guide and educate you through the entire home buying process. From start to finish, I listen to your needs and desires in what you would like and take the information you give me to find you home.
 
As your San Antonio Texas listing agent I am well versed on the local San Antonio Texas area Real Estate Market. You can expect personalized service that includes a detailed consultation on how to best position your home to be competitive in today’s market with an in depth comparative market analysis, and advice on staging. I use the latest and most up-to-date marketing methods to get your home in front of as many buyers as possible. Being your San Antonio Texas area Realtor® not only involves just finding the home or selling the home, but being your guide, negotiator, advisor and advocate and making sure that your needs and goals are met. Being your San Antonio Texas area Realtor® is one of my truest passions, and “Helping You Find Home” is my number one priority.
 
 
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Brenda Mullen
Broker-Associate/Realtor®, ALHS®, MRP®, ABR®, ePro®

Team Leader The Mullen Group with RE/MAX Access - Helping You Find Home
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Topic:
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Texas Bexar County San Antonio
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Women And Their Business Hear The Roar
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Rainmaker
649,541
Barbara Hensley
RE/MAX Properties - Rockwall, TX
Homes for Sale in Rockwall County, Texas

Brenda - good morning.  This is THE question all home owners ask and is likely the hardest of all to answer because the truth is WE DON'T KNOW!  You present a good answer for this age old question.

Sep 15, 2011 02:00 AM #1
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Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

Hi Barbara-It is the big question and the hardest to answer :)!  I sure wish I had that magical crystal ball to give the exact time frame...but unfortunately I have to go with guestimates with what the  numbers show :)!  Thanks for stopping by!

Sep 15, 2011 02:02 AM #2
Rainer
379,751
Cathy Criado
Criado Realty - San Antonio, TX
Making Real Estate Profitable

Hi Brenda,

You present an interesting and intelligent approach to answering a challenging question. If the house is average or substandard it will clearly take longer unless the price reflects that condition. If the house is superior then it will sell faster if a "premium" is not added.  if it is priced higher then still an average sales period, usually.  The absorption rate gives us a bench mark which could also aid in a list price tool. Nicely said and defined.

Sep 15, 2011 02:09 AM #3
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Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

Hi Cathy-Thank you so much.  The absorption rate helps the seller to know where to position their home on the market depending on their needs.  If they desire a quick sale in a buyer's market, then they need to price accordingly.  Condition and location of the home is going to also factor in how to price their home. 

Good morning by the way and thanks for stopping in :)!

Sep 15, 2011 02:12 AM #4
Rainer
181,691
Tatyana Makarov
Coldwell Banker Residential Brokerage - South Windsor, CT
Your Greater Hartford Area Realtor

Hello Brenda,

I get this question a lot... I understand sellers, but I wish they would listen to me as well... Sometimes they do, but sometimes they don't.

 

thanks for you post.

Sep 15, 2011 02:40 AM #5
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Brenda, It's a challenging question to answer.  We can look at all the other homes, but the reality is that if they're priced right, presented well AND that right buyer is out there, it COULD happen that first showing....it doesn't happen often, but sometimes it does.  On the other hand, throw in some power lines or some other perceived issue, and unless price is VERY attractive, it may take much longer than everyone else.

Sep 15, 2011 02:54 AM #6
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Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

Hi Tatyana-All one can do is present the data and let the seller make the decision.  If they trust you and what you are saying, they will listen :)!

Hi BLiz-No doubt...there are lots of factors involved in whether a home will sell fast or not.  The big three Price, Condition and Location all factor in.  Bottom line though is to arm the seller with information in helping them to Price their home to be competitive in the market today :)!

Thanks for visiting!

Sep 15, 2011 03:04 AM #7
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Brenda I get a similar question asked me all the time about the Rates.  Do I think that the Rates are going to go up or down.  My response to the question is always the same "if I knew the answer to that question I would be a very wealthy man sitting at a warm beach and not writing mortgages" ........ LOL 

Sep 15, 2011 05:15 AM #8
Rainmaker
2,033,220
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Brenda,

Very good blog to teach clients and potential clients about the process of selling their home. If any one of us could make accurate prdictions then we could easily becme rich and live somewhere near the beach or whereever that perosn dreams of living. As we all know every home is unique froma selling standpoint.

Sep 15, 2011 05:28 AM #9
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John McCormack
Albuquerque Homes Realty * www.AlbuquerqueHomes.com - Albuquerque, NM
AlbuquerqueHomes.com, Albuquerque Homes Realty

Hi Brenda-

Oh if only we had that crystal ball we'd all be famous in the real estate world.  Good blog with tons of "Google Juice" 

Regards from the Q

Sep 15, 2011 07:03 AM #10
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Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

What George?!  You don't know if the rates are going up or down and the exact timeframe it will happen?!  Ha :)!  It would be terrific to have that crystal ball too!

Hi Robert-No doubt, no doubt...best we can do is look at the stats and give sellers our best professional opinion. 

Hi John-Need that Google Juice :)!  Being famous in the Real Estate World would be really nice too ;)!

Sep 15, 2011 07:06 AM #11
Rainmaker
302,247
Carol-Ann Palmieri
RE/MAX Executive Realty, Al and Cal Realty Group - Franklin, MA
"Cal" the Real Estate Gal

Hi Brenda.   Nicely done explaination for a question that is always asked.  

Sep 15, 2011 09:03 AM #12
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Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

Hi Carol Ann-Thank you so much.  I try to make things easy to understand :)!  Thanks for stopping in!

Sep 15, 2011 10:29 AM #13
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TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

Good evening, Barbara. Nicely written. Easy to understand answers to qestions many ask... 

Sep 15, 2011 01:00 PM #14
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Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

Hi Michael-Thank you so much.  I hope to make some things that may seem complicated a bit easier :)!

Sep 15, 2011 01:42 PM #15
Rainer
478,183
Not a real person
San Diego, CA

In answer to your final question, yes, it is pretty neat! LOL

Happy Friday!

Sep 15, 2011 09:45 PM #16
Rainmaker
1,110,485
Jane Peters
Home Jane Realty - Los Angeles, CA
Connecting you to the L.A. real estate market

Wouldn't we love to put a time limit on how long it would take to sell a home.  We can only make it easier  by looking at the facts, pricing, absorption rate, competition, etc.  Great explanation, Brenda.

Sep 17, 2011 03:14 PM #17
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Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

Hi Russel-I thought so too :)!

Hi Jane-No doubt but I try to give them a best as quess as I can based on the data I have.  Of course I always tell sellers that it's a guess, :)!

Thank you both for commenting!

Sep 18, 2011 01:38 AM #18
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