San Antonio 78230 Real Estate Market – Year In Review

By rerockstar • December 29th, 2009

San Antonio 78230 - A Year In Review

Over the course of the next few days, I will be updating you on the real estate market from January 2009 to the end of the year. I thought this would be a good idea for you to get an overall picture of the San Antonio real estate market through the year and enable us to spot some trends and give some explanation of what some of the more interesting data suggests. Today\\'s first post: San Antonio 78230

As you can see from the chart below, median price has been an up and down affair through the year. We started the year off hovering around the $255,000 mark, but in later spring/early summer, we experienced a climb all the way up to a peak of $285,000. The difference between the highest and lowest points is $35,000 which at these price levels reflects more than a 13.7% change. The area of 78230 has been on a bit of a wild ride with many homeowners having trouble selling their homes because of unrealistic pricing (I had a client in this area and we saw a lot of homes, but most were overpriced at the time). The jump in median price in summer most likely indicates two things - sellers rejoining (or just entering) the market as they see houses in their area selling again and slightly increased demand (which in my opinion is less of a factor here as there is still a good selection of inventory available).

Median Price for homes in SAN ANTONIO, TX 78230 as of December 25, 2009 is $249,900

Inventory for homes in SAN ANTONIO, TX 78230 as of December 25, 2009 is 161

Inventory rose quickly at the beginning of the year, but as you can see has been on a pretty steady decline since late spring. Since January, the 78230 real estate market has seen a net loss of about 32 homes from inventory. While not a super strong number, considering the height of about 229 homes on the market in late spring, I see this as a positive indicator that the 78230 area is doing their best to rebound. If inventory levels continue to decrease in early 2010, expect prices to start rising, although I think many agents/sellers will be a bit more cautious with pricing than they had been through 2009.