An update on the San Antonio housing market, and what it means for you.
Did you know that the housing market in San Antonio and the surrounding areas has changed drastically over the last month or so? I want to keep you updated on the market so you can make informed decisions. That is why I sat down with Mariana Castillo of the Castillo Real Estate Group. She had some very important facts from the San Antonio Board of Realtors about the changes we have seen.
First, inventory has doubled—now there is 2.3 months worth. Second, the average number of days on the market has increased to 29 days. Third, the average home price is $400,000, which is up 18% from the beginning of the year. All three of these changes will affect both buyers and sellers.
“This is the ideal time to both buy and sell. ”
What does this all mean? Let me help you make sense of all the numbers. One thing to note is that 29 days is just the average—the number for each seller can fluctuate. Therefore, it is important to price your home correctly.
In addition, it is a great time to sell because prices have increased so much, but it is also an awesome time to buy because price jumps mean less competition from other buyers. If you wanted to sell but didn’t know if you could buy a new home, or vice versa, this is the ideal time to do both.
Each person’s story is different. The decision to buy and/or sell is unique to your needs, so if you have any questions about your situation, please give us a call! We are happy to help.
