Those who plan to sell a property in San Antonio are in for a treat. The surge in San Antonio’s real estate values over the last few years has surprised and impressed analysts all over the country. As a result, real estate in this Texas City is in high demand right now.
We are currently in a Sellers’ Market.
As with any market, the level of supply and homes for sale in San Antonio, TX varies from one location to the next. In situations where the number of home buyers outnumbers the number of available homes, the situation becomes significantly more favorable for sellers.
This is referred to as a “sellers’ market.” This is something that San Antonio was experiencing in 2015! Forbes magazine ranked San Antonio as the third-best seller’s market in the United States in March of last year…and the city has only grown more robust in the intervening year!
More homes are selling faster and for a higher price. There has never been a better time to be on the other side of the market!
Home inventory is limited.
As previously stated, San Antonio is experiencing a sellers’ market, which means a greater demand for homes than there is supply. A home’s supply is measured in terms of “months of inventory,” which is the amount of time it would take to sell all of the homes currently on the market if they were all sold at once.
There are less than six months of inventory in a need, which indicates that it is a sellers’ market. Only 3.5 months’ worth of inventory is available in San Antonio right now! This is significantly better than the national average of 5.1 months, which is a significant improvement.
If you’re in the market to sell, this means that your property will fetch a higher price. Whatever happens, your house will be more sought after than ever… and is more likely to receive more views, bids, and offers than the competition.
Although home prices are increasing, interest rates are dropping
In order for a seller’s market to develop, a number of conditions must be present. One of these is an increase in the number of people who are buying homes! What strategies can be used to encourage more people to enter the housing market? When interest rates are low, there are a greater number of qualified buyers available.
The desire to transition from being a renter to being a homeowner is widespread, and as more people are approved, the market shifts in favor of the seller. Even though low-interest rates are beneficial to buyers, sellers may enjoy an even greater benefit as a result of the low rates.
Because there are more buyers on the market, the increased demand pushes up the price of homes. Buyers are now required to make higher and more competitive offers for the same property, resulting in higher and more competitive offers.
Homes are selling quickly.
Homes for sale in San Antonio TX are selling FAST as a result of a scarcity of available inventory! When a buyer finds a good property, he or she doesn’t have much time to consider their options because every home is getting more attention each day.
In the past year, homes were generally only on the market for about 70 days, which is nearly a month shorter than the national average and I couldn’t help wondering “What month should I sell my home?”
More and more homes are being sold.
As a result of the increased number of homebuyers in San Antonio, more homes are selling in the city! The total number of home sales exceeded 24,700, an increase of 5% over the previous year. More than 2,000 homes were sold in San Antonio in the month of December alone, representing a significant 16 percent increase over the same month.
If you’re in the process of selling your home, this is fantastic news. For those who were concerned that their property would never sell, there is evidence to suggest that it will sell much sooner than expected now. These figures are encouraging, given the continued expansion of the San Antonio real estate market.
San Antonio’s Cultural Heritage
Finally, and most obviously, selling a home in San Antonio is a breeze because there are so many buyers looking to relocate to this special city! Aside from the usual city attractions, San Antonio is distinguished by its distinctive, family-friendly culture.
The fact that the city is so widely dispersed over land means that homes have more spacious acreage, there is less air pollution, and your section of the city feels a little more like your home. Additionally, San Antonio is bordered by the breathtaking Hill Country, which offers breathtaking views, recreational opportunities, and more.