While sellers typically take a break from listing homes for sale during the "off season", it may be ripe with opportunity more than ever. Since April, homes have not been on the market longer than 59 days and inventory fell back below four months at 3.8 months in October 2015. The San Antonio Board of REALTORS® (SABOR) reported the average price of single family homes increased 10% in October 2015 to $231,116 compared to the same period last year.
“Even though we have headed into a traditionally quieter time of year when it comes to buying and selling, we continue to see more activity than this time last year,” said Mary Ann Jeffers, SABOR’s 2015 Chairman of the Board. “Not only is sales activity up in San Antonio, but in the surrounding areas as well. Helotes, Live Oak, Schertz and Selma all experienced significant increases in October with each growing at least 30 percent in total sales compared to October 2014.”
The level of inventory at 3.8 months remains shy of the 6.5 months of inventory that the Real Estate Center at Texas A&M University characterizes as a balanced housing market. A rate increase by the Federal Reserve could impact some buyers, primarily first-time homebuyers.
October 2015 San Antonio Market Statistics, San Antonio Board of REALTORS®
About Liz Petroff
Liz Petroff is a full-time, dedicated real estate professional. Liz is available via email or by phone at (210) 464-8100. Liz has helped many buyers and sellers – first-time, relocating, downsizing – through every aspect of the transaction from financing, to property search and valuation, navigating contracts, and negotiating in your best interest.