San Antonio’s Strong Economy Impacts Home Sales

m_P_1499902933388_20803_Las_Lomas_San_Antonio_TX_MLS_Size_003_14_Front_640x480_72dpi

20803 Las Lomas Blvd For Sale Near Randolph AFB

San Antonio’s strong economy continues to have a positive impact on area home sales.  Here are some recent indicators of how strong the Alamo City and surrounding area’s economy this month:

In August 2017, hiring was up in Texas.  Texas unemployment rate was 4.3%, but San Antonio’s rate was down to 4.1%.  Texas hiring gains accounted for 12.9% of all job gains in the nation, the highest percentage of any state.  Texas is expecting double the job growth of last year.

The German Super Market chain Lidl is set to open several stores in the San Antonio area, the first one to be located on the west side by Alamo Ranch and Lone Star Parkway.

Target is set to hire 100,000 holiday season temporary workers this year.  San Antonio’s many Target stores will soon start hiring local seasonal temps.

A new San Antonio northwest side neighborhood is being built with 250 rental homes, size ranging from 1400 to 2000 square feet.  Expected rent is to be between $1800 and $2200.

If you looking to buy or sell a San Antonio area home or if you want to know more about San Antonio’s economy and home sales market, contact a Realtor® member of our award wining Legacy Power House Team at Keller Williams Legacy, San Antonio, Texas.  Pat Acquisto, Stephanie Kelley, Randy Kelley, and Sheryl Sepulveda offer you their many years of experience in residential sales and marketing.

If you don’t know real estate, know a Realtor ® and if a member of our Legacy Power House Team says it’s so, it’s so.  Call us at 210 863-2661, 210 867-8743, or 210 482-3202.  Visit our website at sanantoniohomequest.com.

 

 

 

 

April 2016 Home Sales Report for Lackland, Randolph, And Fort Sam Houston

mortgage-loan-images.jpgLast year, the neighborhoods near San Antonio’s Military Bases saw historically active home sales. Now, in the the 4th month of 2016, it looks certain that 2016’s home sales record will be easily surpassed by this year’s extraordinary market.

The reason is simple – Texas has a booming economy and it seems everyone wants to relocate to San Antonio. Mix in the existing residents buying homes around town and you have exceptionally active home sales atmosphere.

The impact on San Antonio’s active and retired military families is enormous.

As opposed to the dark days following the 2008 great recession, very few San Antonio military homeowners now owe more on their homes than they are worth. Foreclosures are now rare. Most homeowners who’ve kept their homes in a well maintained condition and held the property for at least 3  years can expect to sell for a profit or at least break even.  Of course, there are some neighborhoods where homes aren’t selling too well but few are near San Antonio’s military bases.

Here is some important information for San Antonio’s military families from sanantoniohomequest.com, “In the San Antonio area, the majority of homes sold are priced under $200,000.  Homes priced between $200,000 and $500,000 make up approximately 41% of the sales market and homes priced over $500,000 make up only approximately 5% of the Sales.  San Antonio homes sell quickly – presently averaging only around 70 days on the market.  Exceptionally well prepared homes sell much quicker, sometimes going under a firm contract in less than 2 weeks.  This year, there’s been keen competition for the best homes and bidding wars are common.”

So, looking down the road to the July sales peak, what can San Antonio’s active duty and retired Air Force, Army, Navy, and Coast Guard home buyers and sellers expect.

The average home seller can expect to receive high buyer interest, more competition when the new and resale home inventory rises in May and June and perhaps some weakening of the area’s months long seller’s market as more homes come on the market.

The average home buyer can expect to find a satisfactory inventory of available homes, excellent mortgage rates, and a slightly better negotiating posture than has been seen in San Antonio for many months.

If you are contemplating buying or selling a San Antonio area home, April is the time to act.  Contact a realty professional right away to help you. Call on Pat Acquisto, Stephanie Kelley, and Sheryl Sepulveda.  They are award winning Realtors ® of the Legacy Powerhouse Group at Keller Williams Legacy, San Antonio (210) 482-3202 or use the informative features at sanantoniohomequest.com or their sister site at legacypowerhouse.com .  When it comes to buying or selling San Antonio military bases area homes, The Powerhouse Group offers you the exceptional power of its proven performance.

Average Home Prices Near Randolph AFB

Freedom flight over Randolph Air Force Base

Freedom flight over Randolph Air Force Base

3 BEDROOM HOME SALES NEAR RANDOLPH AFB

In the last 6 months, the average 3 bedroom/2 or more bath resale home near Randolph AFB, built from 2006 to 2013, was listed for $184,232 and sold for $181,636.

In the last 6 months, the average 3 bedroom/2 or more bath newly constructed home near Randolph AFB was listed for $236,958 and sold for $229,185.

4 BEDROOM HOME SALES NEAR LACKLAND AFB

In the last 6 months, the average 4 bedroom/2 or more bath resale home near Randolph AFB, built from 2006 to 2013, was listed for $231,751 and sold for $227,260.

In the last 6 months, the average 4 bedroom/2 bath newly constructed home near Randolph AFB was listed for $252,255 and sold for $243,513.

Want to know more.  Contact Randy at (210) 863-2661 or Stephanie at (210) 867-9743.

We’re Randy and Stephanie Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas. Our SanAntonioHomeQuest.com Realty Solutions Team has a long history of residential realty sales accomplishments and a legacy of exceptional  service for our active duty and retired uniformed service clients.  Call on us if you’re looking for the best price, terms, and conditions for your residential realty investment.

February 2014 Lackland AFB, Randolph AFB, Fort Sam Houston Homes For Sale Report

In early February 2014, here’s what’s happening with home sales in the communities closest to Lackland AFB, Randolph AFB, and Fort Sam Houston.

Everywhere we look, there are too few homes for sale and too many buyers looking for homes to buy.

So, why are home sales around San Antonio’s military bases so active this early in the year?

The Alamo City’s largest military installations are located at the front gate of the prosperous and rapidly growing Eagle Ford shale oil and natural gas field.  Demand for homes for oil industry workers is high.

Also, because  San Antonio is economically healthy, the entire San Antonio metropolitan area is attracting a diverse mix of both homegrown and inbound businesses.  Employment rate is high and the city’s well employed population is eager to find new and resale homes to buy.

So, what does the  favorable economic news mean for San Antonio’s active duty and retired uniformed services home buyers and sellers?

As reported in our recent RealtyTimes article, as of 3 February 2014:

“Reasonably priced and well prepared resale homes are selling exceptionally fast and new home builders are putting new inventory into production as quickly as possible.

There are 7847 new and resale homes listed for sale compared to 8520 one year ago.

The listings inventory is exceptionally low but will likely trend slowly upward as late winter/early spring listings are brought to market. Nonetheless, for the time being, because the market has drifted downward into the 4 months supply range, there’s a highly unbalanced market favoring sellers over buyers.

The average sales price for the most recent closings is $195,484 compared to last February’s $183,834.

Both list and sales prices are steadily rising – a trend likely to continue through the higher paced late winter/spring/early summer home sales high season.”

It’s easy to see that, presently, San Antonio’s active duty and retired uniformed services home sellers have an excellent market  for selling their homes.  The market is expected to favor home sellers at least through the end of this summer’s home selling season high season.

Nonetheless,  San Antonio’s incoming  and locally relocating uniformed services home buyers can still be confident that they can find affordable homes, especially when compared to homes in the Nation’s other large metropolitan markets.

That’s all for our February 2014 San Antonio residential realty market report.

We encourage reader comments and recommendations about how to make our reports more informative and useful.

Please visit our sanantoniohomequest.com website for more information and our highly rated San Antonio homes for sale search engine.

If you have questions, need San Antonio realty or mortgage loan advice and assistance, or just want to chat a bit about the wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie) or fill out the form below.

Remember, our never ending goal is to help you get the best price, terms, and conditions for your residential realty investment.

September 2013 Homes For Sale Report For Lackland And Randolph AFB

flags_over_Lackland_Randolph_Fort_Sam-Houston

As San Antonio’s hot and dry summer cruises toward a hopefully cooler and wetter fall, the residential realty markets nearest Lackland and Randolph AFB and Fort Sam Houston are expected to also cool off a bit after an exceptionally hot late spring and summer sales season.

To everyone’s surprise, Military City USA’s (San Antonio) area home sales market peaked unusually early this year, with May seeing 2479 closed sales as opposed to 1899 home sales last year.  From June through August, home sales moved along at a slightly slower, but still brisk and steady pace, especially in the communities nearest the city’s military bases.

So far this year, there has been a severe shortage of both resale and newly built homes, particularly around the military bases.  As shown below, the demand/inventory imbalance has caused a gradual but steady increase in home prices and a significant decrease in the time needed to sell a residential property.  Specifically, as of 6 September 2013 compared to 6 September 2012:

  • available resale home inventory is down 9.78% (from 10016 down to 9045),
  • pending homes sales are up 4.65% (from 2165 up to 2265),
  • the average asking price is up 10.49% (from $283,577 up to $31 other large metropolitan markets.
  • the average closed sale price is up 4.4% (from $200,947 up to $209,789),
  • the cumulative time needed to sell the average resale home has fallen 22.88% (from 118 days down to 91).

With only a 4.8 month supply of homes on the market, San Antonio presents an exceptionally positive market for our  home sellers.  Homes are currently selling for more than 97% of asking price and well prepared homes in the most popular neighborhoods are going under contract very quickly.

Although the news is exceptionally positive for home sellers, it remains good for home buyers because mortgage interest rates remain low and San Antonio area homes are remarkably affordable when compared to homes in the nation’s other large metropolitan markets.

That’s all for our September 2013 San Antonio realty market report.

Wishing you a beautiful fall season, we’re Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas.

We specialize in representing active duty, retired, and uniformed services veteran families. Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying and selling need.  If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to chat about our wonderful Alamo City and the home market conditions near Lackland, Randolph, or Fort Sam Houston, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie).

 

24915 Player Oaks Home With Pool For Sale Near Randolph AFB, San Antonio, Texas

Home For Sale Near Randolph AFB

Home For Sale Near Randolph AFB

This is a beautiful  3 bedroom, 2 full bath, 2 half bath, 2 car garage home with pool on a large .62 acre lot in the Texas Hill County Summerglen development in north Bexar County, Texas.  It’s located within easy commute distance to Randolph AFB,  Fort Sam Houston, and downtown San Antonio.  Because it’s located outside San Antonio’s city limits, the property taxes are lower.  For more information and a gallery of pictures, go to sanantoniohomequest .com.

The home is listed by Stephanie Kelley, Realtor®, at Keller Williams Legacy, San Antonio, Texas.  For detailed information about this or any San Antonio area home for sale, call Stephanie at (210) 863-2661. 

 

June 2013 San Antonio AFB Area Homes For Sale Report

Early June heralds the advent of hot and dry summer weather for all of the San Antonio air force bases, especially Lackland AFB which tends to one of the hottest  areas around town.

San Antonio and all of south Texas has already been exceptionally warm and arid for many months, but, in late May and early June, most of the region was blessed with heavy refreshing rainstorms.  Nonetheless, the weatherman sees typically hot and dry summer conditions ahead.

Do the home sales markets  in communities around Lackland AFB, Randolph AFB, and Ft. Sam Houston mirrow the weather?   Yes, absolutely  — they are  HOT and will likely stay so through the summer PCS season and into the coming fall.

Why is Military City USA’s realty market so hot this year?

1.  Across the nation, home contracts have increased to a 3 year high. The trend is reflected in San Antonio where, this May, home sales were up 21% over May 2012.

2.  Although mortgage rates are gradually edging up, the increase is marginal and rates are still favorable for home buying.  Because of the influx of new residents, and particularly the growth of the local active and retired military communities, it’s unlikely that anything other than a very large increase in mortgage rates will cool San Antonio’s hot residential market.

3.  Foreclosures are way down locally and across the nation and, because of San Antonio’s large average home sales price increase in the last 18 months, fewer military home owners now owe more on their mortgages than their homes are worth.

4.  Oil and gas production in south Texas’ vast Eagle Ford shale oil field, is up 77% over last year – topping 500,000 barrels of crude per day. The area’s booming oil industry is bringing many new businesses and residents to San Antonio, especially into the new home and resale home communities near Randolph AFB and Lackland AFB.   Consequently, AF home sellers should expect good prospects for selling their homes and AF home buyers should be ready for hard negotiations if they want to buy close to one of the area military bases.

5.   Compared to May 2012, the following key residential realty market indicators are all exceptionally positive for San Antonio and the communities nearest the city’s military bases:

pending home sales are up 17%,

list prices are up 10%,

latest closed sale prices are up 21%, and

the median sales price for the most recently closed home sales is up 11%.

The bottom line is this – because of its solid economic and demographic foundations, San Antonio is one of the nation’s bright spots for home ownership and rental investments.

That’s  it for our June 2013 San Antonio AFB Area Homes For Sale Report.  We encourage reader comments and recommendations about how to make our reports more informative and useful.

We’re Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas.  We specialize in representing active and retired military home buyers and sellers.  If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to chat a bit about our wonderful Alamo City, please call us at (210) 863-2661 or (210) 867-8743. Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs.

Copyright © 2007-2013 AirForcePCS.com - Air Force Relocation | All Rights Reserved | AirForcePCS.com is in no way connected with the Department of Defense or the U.S. Air Force. Contents of AirForcePCS.com are not the official views of, or endorsed by, the U.S. Government, the Department of Defense, or the U.S. Air Force.