The demand for Texas homes is HOT. Now, would be an excellent time to find out How Much Your Home is Worth in and around the San Antonio area. The first quarter in 2016 saw an all time low of 2.8 months inventory of homes for sale in Texas real estate. Every market is local, and San Antonio still has a low inventory of homes too.
What does this mean? If no more homes are listed for sale, it would take less than 3 months to deplete the supply of homes statewide. Low inventory always brings a higher demand for homes, and buyers find themselves in a bidding war.
The Real Estate Center at Texas A & M estimates that a monthly housing inventory between 6.0 and 6.5 months is a balanced between supply and demand, and Texas was less than that amount during the first quarter of 2016.
To get the full first quarter stats, including median home prices, and number of days on the market, see the Texas Quarterly Housing Report recently released by the Texas Association of REALTORS®. This report shows all the statewide data and includes information for 25 local markets, including San Antonio, TX.
The San Antonio and New Braunfels area had an inventory of 3.2 homes for sale in the first quarter of 2016. Call Jerry today at 210-789-4261 to find out How Much Your Home is Worth in and around the San Antonio area. With the average days on the market around 67 days, homes are selling faster than this same time last year.
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