Homebuyers in the San Antonio area now have more options than in the past few years. As a result, homebuyers, along with sellers, need to carefully evaluate their strategies in this current market. Click here for a look at the latest housing market activity for the popular 78209 zip code.
Resale Homes
According to data from the San Antonio Board of Realtors (SABOR) The resale home market has added inventory over the past year, with Months of Supply (MOS) increasing to 6.8 months compared to 5.4 months last year—a 24.4% rise. This shift indicates more homes are available, but sales have slowed, and homes are taking longer to sell.
Currently, homes spend over 80 days on the market. Active listings have increased by 18.3% compared to last year. Resale units sold decreased by 3.2% in December compared to the previous year. Despite more inventory and slower sales, home prices continue to rise. The average home value has appreciated by 3.4% since December 2023 reenforcing the value of home ownership in the San Antonio area.
New Homes
New construction sales have remained stable, with the Months of Supply (MOS) holding steady at 4.4 months. The number of active listings has dropped by 2.8%, while homes under contract increased by 4.5%. Sold listings declined by 4.2%, showing only minor shifts compared to the resale market.
Buying Strategies
Some sellers may hold out for a price they believe their home deserves, while others feel more motivated to sell quickly. A skilled real estate agent who can analyze data effectively often finds deals that benefit their clients. I analyze listing prices, projected equity, and time on the market to identify sellers who may respond to a strong offer. Offers can include various combinations of price reductions, concessions, or other negotiable terms. For homes with unique features or in prime locations, making an offer at or above the asking price can be a smart strategy to secure the property.
Selling Strategies
If you plan to sell your property, pricing it according to the most recent market data is essential. A pricing analysis should compare sales no older than one year. However, in today’s shifting market, reviewing sales from just the past one to two months often provides a more accurate picture of current trends.
First Impressions Matter
A newly listed home typically receives the highest number of potential buyer views within the first 14 days on the market. Buyer interest tends to decline as time on the market increases. To maximize this critical window, you should price your property fairly from the start, aligning with market value to attract serious buyers.
Professional Guidance
As a certified Pricing Strategy Advisor, I have specialized training to research and recommend competitive pricing strategies tailored to current market conditions. My goal is to price your home strategically to generate the most showings during the first two weeks on the market. Even with healthy housing inventory, a buyer is always waiting for a home priced right.
Leave a Reply