The average price for a home sold in San Antonio in 2012 was a bit under $200,000. That’s the average and I'm working on a post to explore the average. But for now I decided to take a look at the polar opposites of San Antonio's luxury market and the most modestly priced homes.
The most expensive home sold in the area, pictured below, located in Greystone Country in north central San Antonio. It was on the market for nine (9) months before receiving an acceptable offer. It’s over 8,000 square feet, and came with an estate sized lot of over five (5) acres.
See the chart below to get a sense of the $1+M home market in San Antonio.
With a thirty (30) month inventory level, Buyers have options. But understand, the luxury market, in general, is able to withstand longer on market times than other segments of the residential market. Aggressive negotiating is expected, but don’t think Seller’s will be steam rolled into accepting an unreasonable offer. Buyer’s should use comparable sales as a guide. You’ll get no freebie but nice homes can be had for the financially qualified.
That’s the top of the market. The least expensive single family detached home sold in San Antonio was a two bedroom, one bath in East Terrace Homes. It sold for a bit under $10,000 and was on the market four days.
There are not many homes available for under $10,000 but there are a number of homes under $100,000. And note the inventory level for this price range is really drying up. With rental rates going up, I anticipate some people who current renter will be looking into buying homes again. Not sure what the numbers will look like since demand may still be hampered somewhat by mortgage availability.
These two houses show the boundaries of the extremes in local housing. We have a variety of home types, prices, and locations in the San Antonio area. Although the supply of available homes is lower than it has been in several years, if you want to buy or sell a home, now is a good time to begin your effort.
When you are ready to buy or sell residential real estate in the Greater San Antonio area, I know the market. Call me to help you.
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Wayne Johnson
18756 Stone Oak Parkway
San Antonio Texas 78258
Coldwell Banker D'Ann Harper Realtors®
210.483.6329(Tel)
©Copyright, January 2013, Most Expensive and Least Expensive Homes Sold in San Antonio 2012
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