San Antonio Real Estate Market - MONDAY, MARCH 28, 2011
The San Antonio Real Estate market today is faring better than most cities across our great nation. Let’s take a look at how it is shaping up.
Currently there are 11119 active San Antonio real estate single residential listings on the market. That is 641 fewer listings than there were on March 19. Now to some that may seem to be a very large number making it seem that it is a buyer’s market and easy pickings for everyone. However, the truth of it is that it is the cream of the crop that are going under contract and selling quickly.
While the San Antonio real estate market has yielded 3223 sold listings in the last three months, in the last two months 2170 listings have closed and 1076 listings have sold in the last 30 days with an average days on market (DOM) of 157 days. What is interesting about this to me is that in the last 10 days, 943 new listings have entered the San Antonio real estate market and 427 listings have gone under contract with either an Active Option (AO) or Right-of-First Refusal (RFR) status. What that means to the buyer is that 45 Percent of the homes available are unavailable practically as soon as they arrive.
So let’s discuss these newly contracted listings that should be putting the San Antonio real estate market in the limelight that it deserves. Currently there are 699 homes under contract with either an AO or RFR status and 427 of those went under contract in the last 10 days. Out of those 422 homes, 20 were on the market 10 days or less, and 130 were part of the San Antonio real estate market 30 days or less. So what should everyone take away from these numbers? The fact that over 12 Percent of the homes that are sold in the San Antonio real estate market sell quicker than the other 88 Percent.
The bottom line is that if you want to sell your home fast and for the most money, it comes down to Price and Condition. For those buyers out there thinking that it is a “Buyer’s Market” every where… I dare say that the upper hand went to those 130 sellers and they probably had multiple offers.
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