San Antonio Real Estate Market Report – August 7, 2009

By rerockstar • August 7th, 2009

It’s been a hot summer.

Forget the real estate market in San Antonio – I’m talking about the weather! August will probably be the cruelest month of all, but let’s get back on topic – the San Antonio Housing Market. This summer brought with it some good news in the markets overall, but San Antonio has continued it’s slow rise back to a more balanced market. Let’s take a look at the numbers shall we?

Real Estate Market Chart by Altos Research www.altosresearch.com

Inventory levels in San Antonio are shrinking.

The chart above depicts the last 90 days of housing inventory in San Antonio. What do you see? A steady decline in homes available on the market. Now don’t get me wrong, we still have plenty of available inventory, but I have seen some buyers having to fight to get the home they want (my most recent listing that I sold went in 8 days with multiple offers and over asking price!). As the inventory declines (supply), prices tend to move upward based on demand.

Now remember, as homes are bought up, homes are being added to the market as well. Inventory levels reflect both the homes that were already on the market as well as the homes added to the market. A declining inventory could mean that people are buying, but no one’s really listing their homes either – so the inventory declines at a faster rate. So let’s see what the new listings data looks like for the past 90 days:

New listings climb in San Antonio.

As you can see, San Antonio continues to add new listings at a slow and steady pace. So in order to bring the inventory levels down, we need to be selling more homes than we are bringing onto the market. Eventually this will bring balance to the market or even shift it from the current buyer’s market to a seller’s market.

Buyer’s market vs. Seller’s market.

The Median Market Action Index (as represented above) is a function of supply and demand; taking into account listings sold, new listings, and current inventory levels. A value of 30 is considered a balanced market; anything above is a seller’s market, anything below is a buyer’s market. As you can see, we are still solidly in a buyer’s market, but as we push slowly toward that 30 mark, expect to prices to move upward as well. San Antonio’s real estate market is moving along and if trends continue, we should see more sales over the next few months.

Need market reports for your local area?

Looking for more information on the San Antonio real estate market? You can sign up below to receive market reports by zip code – delivered weekly to your inbox. Or if you want the data “on demand” head over to the San Antonio Market Reports section of RErockstar.com. From there you can select the charts you want to see for different zip codes and customize the data to fit your needs. Any questions regarding the market reports or any other real estate questions – just let me know.