San Antonio Days on Market Decent Despite Slow Mortgage Market

By DeeinAustin™

You're probably aware that the first week or so of each month is when we report on the major markets in Texas. We've already covered Dallas, Houston and Austin, so San Antonio is at the market analysis plate.

MLS Statistics are provided by the San Antonio Board of REALTORS® (SABOR). Download mls-stats1007.pdf or visit the SABOR website. You'll notice that, like Houston and Dallas, the San Antonio Board of REALTORS® provides excellent data to consumers and non-members.

The Austin Board of REALTORS® provides a monthly summary, but doesn't let sellers and buyers statistics to easily download a full report.

SO HOW'S SAN ANTONIO REAL ESTATE DOING?

• DAYS ON MARKET is now 74, from 59 days last year. This isn't bad at all. I thought I'd see longer days because of the volume of homes that I see being built as I drive through San Antonio.
• Sales VOLUME is down 14% in San Antonio. This reflects the rest of Texas. The lower sales volume is caused by builder "enthusiasm" from 2005-2006 combined with the slow mortgage market. More homes + less qualified buyers= more unsold inventory.
• Like other Texas cities, the average and median sales PRICES increased overall by 3% and 6% respectively. Builders and lenders are selling in the higher dollar range of about $175-$200k. This range has proven to be a consistent, steady and stable buyer base for San Antonio.
• SUB-MARKETS are seeing variations. For instance, Multifamily saw a drop in the median price to 138k this year from $155k last year, but the median price increased 22% to $213k. Still, days on market is still only 58 days.

I'm working on an article about the new shopping areas in San Antonio. It's pretty exciting to report on the market and what's happening there because it's where I grew up. I moved away in 1995, but visit my family there at least every other month or so.

San Antonio seems to have many mixed-use projects in the works, so stay tuned for new articles on San Antonio mix-use development next week.

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Comments

[anonymous]

Why is th ABOR so tight fisted about market data? Even local title companys that used to provide data publicly have stopped providing data. What gives?

[Dee Copeland]

I'm pretty unhappy about that, but am not sure how to change it. I think consumer demand has changed and the other boards are pretty open about giving the data away. If you think about it, YOU are the one buying and selling the house, so why can't you see what the numbers say?

I thought about starting a petition because I'm very jealous of the other boards. Their agents and consumers get access to tools and information that our customers can't. The old way of doing business by holding onto "proprietary" data is gone. The ABOR data belongs to you, not me and not the board.