Our market in San Antonio, TX continues to be HOT, and we are still in a Seller's Market in many of our communities. We have been experiencing numerous multiple offers, and sharp competition on many of our nicer homes on the market. Therefore, Buyers need to be prepared to pay their own closing costs, or risk someone else getting into the next house that they were looking forward to calling home.
According to the latest statistics released by the San Antonio Board of REALTORS®, the inventory of available home is still around 4.7 months, and average days on the market is around 65 days. Average home prices have increased to around $232,839, and seller's are getting average of 98.5 % of the listed price on their homes. These are all strong indicators
for any Seller's Market.
Gone are the days when buyers think that seller's are willing take a drop on the listed price, and give them all the concessions that are asked for. Buyers need to be prepared to even pay for surveys, HOA documents, HOA transfer fees, and even those residential home warranties in some cases. Having your down payment may not be enough to close on your next home. Besides the lender fees that are typical closing costs, there are also escrow setup fees for property taxes and homeowner's insurance, which are normally referred to as "Pre-Paids". Lenders usually require 3 or 4 months for property taxes, and one whole year for homeowner's insurance. Get all the facts before you miss out on that next deal.
If you're thinking about buying your next home, and you want to be truly prepared in today's seller's market, Contact Jerry at 210-789-4216 for a FREE Buyer's Consultation. Not ready, but what to view available Homes For Sale in San Antonio, check out my website, and sign of for Market Insider Reports.
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