Buyer’s Market or Seller’s Market?
We hear so much about the market but what do the Multiple Listing Statistics really tell us?
For homes priced $174,999 and below in the Austin and San Antonio areas it is a seller’s market. This means that there are more buyers than available homes in this price range. If there is less than 6 months of inventory, it is considered seller’s market. For homes priced $175,000 and above it is a Buyer’s market. This indicates that there is over six months supply indicating that there are more sellers than buyers in the price range. The new homes have a 4.68 month supply which was 7.26 months last August. This indicates that new home builders are clearing out their inventory which is an advantage for new home buyers. Many builders are still offering discounts and other buyer incentives.
The home inventory is up slightly since the same period as last year. The total number of homes sold this year is 17% lower than the same period as last year. Homes are also staying on the market longer than the previous year.
It is projected that in the San Antonio area, 19,000 homes will be sold through the MLS system this year which will be -14% from last year.
The market here in the Austin and San Antonio area is still viable and much better than places such as Las Vegas, Florida, Arizona,& California whose markets are off over 30%.
For more market statistics or for questions on a particular neighborhood, call
Diana Fidone-Griggs in San Antonio at 210-363-8658
Angela Sparks in Austin at 512-762-0923
