San Antonio Real Estate Market
The San Antonio Real Estate market data is indicating that the number of days a home is on the market is decreasing. With the FHA Loan requirements changing for the MIP next Monday, if you are on the fence, here is another reason to jump off and purchase a home this week.
What would you say if I told you that over 9 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 1315 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 11208 active San Antonio real estate single residential listings on the market. Now that is a few more than there were last week and 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 over the last 3 weeks the number of days on market on average has dropped from 157 days to 151. It is still the cream of the crop homes in the San Antonio Real Estate Market that are going under contract and selling quickly.
While the San Antonio real estate market has yielded 3472 sold listings in the last three months, in the last two months 2497 listings have closed and 1315 listings have sold in the last 30 days with an average days on market (DOM) of 151 days. SO WHAT YOU SAY!!! Why this is interesting is that in the last 10 days, 1076 new listings have entered the San Antonio real estate market and 416 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 39 Percent of the homes that come into the San Antonio Real Estate Market practically leave 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 698 homes under contract with either an AO or RFR status and 416 of those went under contract in the last 10 days. Out of those 416 homes, 24 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 9 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.
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