January 2015 Home Sales Report For Lackland AFB and Randolph AFB

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FROM THE BEST REALTORS® REPRESENTING THE WORLD’S FINEST MILITARY FAMILIES

January 2015 – Homes Sales Report For Lackland AFB and Randolph AFB, Texas 

For home sales in the communities near Lackland AFB and Randolph AFB and the entire Joint Base San Antonio (JBSA) community, last year (2014) was the most active year since 2006.

In 2014, residential sales in San Antonio’s military communities were comparable to the aggressive home sales environment in the overall San Antonio market.  According to a recent article at sanantoniohomequest.com, “2014’s impact was impressive. Compared to 2013, closed single family home sales increased 4.23% (from 23502 to 24541), the average home for sale list price increased 4.72% (from $215,075 to $225,729), and average sales price increased 4.92% (from $208,040 to $218,805). The area ended 2014 with the lowest inventory of available homes for sale seen in the last decade.”

The story for San Antonio’s large retired and active duty uniformed services community is this.  Driven by it’s booming economy,  San Antonio has one of the nation’s most active and successful home sales markets.

What does the good news mean to Lackland and Randolph area families looking to buy or sell a home in 2015?

There should be fewer sellers who owe more on their mortgage than their homes are worth.  The probability of their at least breaking even is much higher.

Because there’s a shortage of homes for sale around the military bases, home prices will rise and, like it’s been for many months, sellers will continue to have the negotiation advantage over buyers.

The best prepared homes will sell quickly, bidding wars will become more common and buyers can expect to have stiff competition for the most marketable homes.

That said, there may be a economic cloud on the horizon for the housing markets around Randolph AFB and Lackland AFB.  Quoting sanantoniohomequest.com, ” Now, entering 2015, there is the possibility of a significant change in the area’s economic circumstances. Gas and oil field development and the refinery and sale of petroleum products have traditionally been the most significant industries contributing to Texas’ economic success. Although good for America’s motoring public, the recent collapse of crude oil and gas prices might bode ill for Texas’ most significant industry. Economists are watching the situation warily, cautioning a wait and see attitude regarding the long term impact of low petroleum prices on the economies of both San Antonio, specifically, and the state in general.”

Subdivisions near Lackland and Randolph lay close to the area’s shale oil production centers.  A significant downturn in oil field development and production could cause home sales and prices to fall in those communities.  That will be good for buyers but not so good for sellers.

As we have so often pointed out in this column, home buyers should take heart in knowing that, historically, San Antonio has a consistent record of moderate but steady home value appreciation (3% to 5% yearly) and residential sales market stability. Also, San Antonio area homes are still very affordable when compared to homes in the nation’s other large metropolitian markets.

This concludes our January 2015  home sales report for Lackland AFB and Randolph AFB .

The members of the SanAntonioHomeQuest Realty Solutions Team, Keller Williams Legacy, San Antonio, Texas, specialize in representing home buyers and sellers in San Antonio’s active and retired uniformed services communities. If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to learn more about our wonderful Military City USA, please use the information features available our sanantoniohomequest.com website or call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie).

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