August 2007 San Antonio Area Realty Market Report
Posted by Randy Kelley on August 19, 2007
From Legacy Group-Keller Williams, San Antonio
With schools starting and the summer relocation cycle coming to a close, San Antonio’s realty market is expected to cool even more than it has in recent weeks.
This year, San Antonio’s real estate market has been dramatically different from last year. The homes-for-sale inventory is significantly up, home prices are falling and new home builders are offering more incentives to entice buyers. Investor activity is virtually negative and move up buyers are locked in place waiting for their homes to sell. Tougher lending requirements have significantly reduced the number of available buyers, especially for lower priced houses.
Although not as severe, San Antonio’s sluggish realty market is consistent with the national realty market downturn; however it doesn’t reflect the area’s exceptionally strong economic and demographic projections. Buyers and sellers can take comfort in knowing that, although it has its peaks and valleys, San Antonio’s realty market is remarkably stable over the long run.
For your information, here are the market statistics for San Antonio single family detached home listings as of 6 August, 2007:
active listings: 12466 - stable - neutral for buyers and sellers
average list price for recently sold property: $187,885 - trending down slowly - good for buyers
average sold price for recently sold property: $183,106 - trending down slowly - good for buyers
average days on the market for recently sold property: 66 - steady - neutral for buyers and sellers
If you have questions, need San! Antonio area realty or mortgage advice or assistance, or just want to chat, please call or send an E-mail. The SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your realty needs.
Randy & Stephanie Kelley, Realty Solutions Specialists, (800) 201-9145
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