This recent article was posted in the San Antonio Business Journal about the residential real estate market in San Antonio. While the article focuses mostly on Alamo Heights I can attest that the seller’s market discussed is also happening in the downtown and central city neighborhoods. It has been my experience recently both on the listing and buying side that desirable homes that are priced well will receive multiple offers. The title of the article says it best, “The pace is back.”
By Shari L. Biediger for San Antonio Business Journal
A co-founder of the boutique firm Nix Realty, Kate Park recently showed a charming 4-3-2 on a tree-lined street in Alamo Heights, only to receive a text message from the listing agent while walking back to her car.
The house just received an offer from another buyer — one who had not yet seen the property.
“The pace is back,” says Park. “It is fun.
Turn down those thermostats. Local home sales are heating up faster than the patio furniture cushions on a sizzling, summer day. And not just in the popular pockets of the past. Some of the city’s sleeper markets are awakening.
“The number of days on the market continues to drop, average sales prices continue to increase, while months in inventory continue to decrease,” says Steven Gragg, chairman of the San Antonio Board of Realtors. “Last year was a really good year. And now, within the first quarter of 2013, we are 15 percent ahead of 2012.”
Ready to pounce
It’s a trend that began last summer, says Park.
“The pace was fast in 2012 for the same three months, March to May,” says Park. “But this year, it seems as though there are more properties selling with multiple offers, which usually equates to the seller getting closer to their asking price, or even more than their ask in a few cases.”
Low interest rates and higher consumer confidence are drivers. It doesn’t hurt that election year has passed. Read the rest of How’s the market? Hot! »
This nearly 100 year old Queen Anne Victorian beauty now has new owners.
This two story Queen Anne home sits on a double lot just steps away from the River Walk in Historic King William. Double wrap around porches provide the perfect vantage point to watch the Fiesta King William Fair & Parade. The home features high ceilings, tall windows, beautiful hardwood floors, space for attic expansion, & a grand entry with elegant stairway. The family room overlooks the spacious yard shaded by mature trees. The detached two car garage off S. Alamo has a second story studio & full bath.
This two bedroom two bathroom renovated bungalow in Lavaca went quick. Let me know if I can assist you in your search or in your sale.
It is definitely looking like it’s turning into a Sellers’ Market for nicely renovated homes in the urban core. This wonderful home went under contract after four days of being on the market and receiving two offers at the same time. The seller was pleased with the sale and a great new owner should be moving in this weekend. Keep an eye on the Lone Star Neighborhood as it continues to become the next hot neighborhood for buyers.