Friday, September 18, 2009

How's the San Antonio Real Estate Market? - "Home sales up, but foreclosures drag down prices in S.A."

The San Antonio Real Estate Market

According to the Texas Real Estate Center  on September 16,2009, "Home sales up, but foreclosures drag down prices in S.A.  San Antonio continues to  an increase in homebuying — in large part thanks to first-time homebuyers motivated by a tax credit. But prices have failed to increase, and experts are saying growing short sales and foreclosures are dragging down prices.  San Antonio recorded 1,761 single-family home sales in August, a 2 percent increase from last August, according to the San Antonio Board of Realtors (SABOR). It's the second month in a row the volume of sales has topped the previous year's number, ending a year-long slump.  The increase in home sales was not matched by a price increase. The median price for single-family homes in August was $147,800, a 2 percent decrease from a year ago. Florence Terrell of SABOR blamed that on a high number of short sales and foreclosures.  Bexar County has 1,554 properties posted for the October 6 foreclosure auction. That's up from 1,132 for September 1 auction, according to"

So what does that mean for you?  If you're in the market to purchase a home, it's a great time!  Our inventories in SA remain high, and interest rates are really low.  If you're needing to sell your San Antonio home, you'll need to be a little more aggressive in your pricing, and you'll need to get your home in tip top shape to sell quickly.  Analyists predict a quicker recovery for our market than in some other Texas cities, but not until 2010. 

Currently in SA....

And, by the way, if you're in San Antonio this weekend don't miss the Alamo City's "Jazz's Alive"  in Travis Park downtown Saturday and Sunday.  Great music, and best of all, it's free!

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