Who saw this happening in our Real Estate market? Hi, I’m Jay Acker with Real Estate by Design Group at Keller Williams Realty and this is your first quarter market update for San Antonio. We’ve seen our inventory fall from fourth quarter of last year to now. We have approximately have 3,300 homes on the market. That’s a 15% drop in the last 90 days. Our sales price as a result has actually dropped 5% and we’re down to about $249,000 for average list price. The part that really puzzles everyone was the fact that rates have actually fallen. Actually just this month rates fell to 4.3%. We were expecting to see at least three rate increases of an eighth of a point each time through 2019, (that’s what all the prognosticators were saying.) We actually saw a drop, so the feds are helping buyers out.
If you’re in the market to buy a house, we haven’t seen more favorable conditions in almost five years, so really take advantage of that. If you’re not working with an agent, call a great one. We would love to walk you through that process and make sure you’re making an informed and smart decision. If you’re a home seller inventory is up just a bit. Your home and your price are critical right now, but what’s more critical is your marketing. If you’re currently listed and you’ve been on the market for over 60 days or so, you really need to take a close look at what marketing your agent is doing for you and make sure you’ve got a game plan in place. If there’s anything we can ever do for you, whether it be providing you a value on your home, or finding out if you are qualified to purchase a new home, we would love to discuss those options with you. Please contact us at REBDSanAntonio.com and as always, we look forward to helping you down the road. Thank you so much!