San Antonio Housing Market Update | December 2023
San Antonio Housing Market Update
Welcome to the latest San Antonio Housing Market Update edition with Krishna Perkins, your trusted realtor in northeast San Antonio. This comprehensive blog post will delve into the key trends and insights shaping the real estate landscape in November 2023. Be sure to watch the embedded YouTube video for an in-depth visual analysis.
Newly Listed Homes and Inventory Trends
The San Antonio housing market is experiencing a positive shift in newly listed homes as sellers adapt to current market conditions. The accompanying graph illustrates the stabilization of new listings, a promising sign for prospective homebuyers seeking more options in the market.
Mortgage Interest Rates
Exciting news for potential homebuyers! Over the past five weeks, mortgage interest rates in San Antonio have been softening. While it’s too early to predict future trends, this development creates favorable conditions for those considering homeownership. Keep an eye on this trend for potential savings on your home purchase.
Local San Antonio Market Overview
As of November 2023, San Antonio is in an overall sellers’ market. With just over four months of inventory, homes are selling at nearly 96.9% of the list price, with a median list price surpassing $292,000. The market is dynamic, with active listings increasing slightly, providing more choices for discerning buyers.
Pending Listings and Sold Listings
Exploring the data on new pending listings—homes that transitioned to pending status in November. The median list price reflects a slight decrease, presenting opportunities for those seeking more affordable options. Sold listings for November came in at $292,800, representing a 2% month-over-month drop, which is typical for this time of year.
Supply of Inventory
There is just over four months’ worth of inventory, indicating a sellers’ market. However, the change in inventory from last month is a positive sign, offering a 5.7% increase. Over the last 12 months, there has been a significant 36.9% boost in inventory, providing more choices for homebuyers.
What Does This Mean for You?
For buyers, now is an excellent time to connect with a trusted loan officer and realtor to prepare for the potential decrease in interest rates. Don’t hesitate to make offers, even on slightly overpriced homes, as sellers may be open to negotiations.
For sellers, if you’ve seen limited traffic or offers in the past 45 days, consider revisiting your marketing plan with your agent to maximize visibility and potential offers.
Contact Krishna Perkins
Whether you’re a buyer, seller, or contemplating a move, Krishna is here to help. Call or text at 210-260-6617 for personalized guidance tailored to your unique situation. Your dream home or successful sale could be just a conversation away.
Stay tuned for more updates, and thank you for trusting Krishna Perkins with your San Antonio real estate journey!