San Antonio Real Estate 78230 – Market Update

By rerockstar • June 21st, 2010

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San Antonio 78230 Housing Market – Week ending June 18, 2010

There’s been a slight uptick in median home prices in San Antonio 78230, but so far, it’s not a major shift in pricing. I expect prices to fluctuate a bit over the summer as people enter and leave the real estate market, however, I don’t see any signs of significant fluctuations at this point in time. These prices have dipped from their highs towards the end of 2009 (when the first time home buyer tax credit was originally set to expire) and it will take some large moves in inventory and buyer confidence to push prices back to those levels.

Housing inventory levels (the number of homes for sale in the given market), as you can see, are on the rise since March 2010. This often spells a downward trend for home prices in the long run as the availability of homes increases the competition in the neighborhood. One of the issues I’ve noticed in the San Antonio 78230 market is that sellers tend to hang onto their higher prices, despite downward pressure from the real estate market. I’ve also seen a lot of homes enter, exit, and rejoin the market over time (sometimes multiple times) and some of the increases could be caused by this somewhat localized trend.