San Antonio Real Estate 78231 – Market Update
San Antonio 78231 Housing Market – Week ending June 18, 2010
San Antonio 78231 is an excellent example of supply and demand at work. Look at both charts – see how the median price moves inversely to the inventory level? As inventory levels have risen, downward pressure has been applied to the median home price in the 78231 real estate market.
Think of it this way, if you had 10 similar homes to choose from, you might be willing to pay a little more for one that stood out slightly. If you had 1,000 houses to look through and they were all similar in nature, you would be begin to think of value. If House A and House B are identical homes in San Antonio 78231, but House B is listed for $50,000 more than House A, which one represents the greater value? Statistically speaking, more people would buy House A, forcing House B to lower their price or languish on the market. In a city with a lot of tract homes, such as the outlying areas of San Antonio, this becomes even more apparent.
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