San Antonio Real Estate Market - April 4, 2011

By
Real Estate Agent with Keller Williams, San Antonio, Helotes, Leon Valley

San Antonio Real Estate Market

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.

What would you say if I told you that approximately 10 percent of the homes that come into the San Antonio Real Estate Market in the next 30 days will go under contract? Well in the last 30 days 1235 homes have sold in and in the last 10 days 124 homes went under contract that had been on the market for 30 days or less.

Currently there are 11042 active San Antonio real estate single residential listings on the market. 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 3338 sold listings in the last three months, in the last two months 2335 listings have closed and 1235 listings have sold in the last 30 days with an average days on market (DOM) of 154 days.  What is interesting about this to me is that in the last 10 days, 930 new listings have entered the San Antonio real estate market and 444 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 48 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 683 homes under contract with either an AO or RFR status and 444 of those went under contract in the last 10 days. Out of those 444 homes, 26 were on the market 10 days or less, and 124 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 10 Percent of the homes that are sold in the San Antonio real estate market sell quicker than the other 90 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 majority of those 124 sellers had multiple offers and had the upper hand.

Select San Antonio Real Estate Home Search to find an affordable San Antonio Home today.

Select contact Randy Elgin – REALTOR® to ask me a question.

Request a Market Overview of your home by selecting San Antonio Real Estate market.

 

Comments (2)

Anonymous
Doc Stephens

Very solid analysis, Randy.  I recently blogged on the subject:  "It's Not One Market - It's Three Markets" which pointed out that the homes which are sparkling clean, move-in ready, and priced right @ market sell immediately.  The Fixer-uppers sell fast enough, usually @ about 30% or more discount from "As Repaired Value", but the middle half of homes on the market, those neither in prime condition nor discounted deeply just sit there month after month.

Apr 04, 2011 10:39 AM
#1
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hello Randy. You did a great job pointing out the market in San Antonio. Some very interesting facts in deed. That large number of inventory includes all types of homes, including foreclosures, pre-owned and new homes.

Apr 05, 2011 03:07 PM