Leon Springs Community News - January 2017
Outlook Bright in 2017 for San Antonio’s Housing Market
Throughout 2017 we will be Talking Real Estate to help you make both buying and selling decisions that impact the largest investment in your life – your home!
This month there are some great things to say about the San Antonio Housing Market. According to the San Antonio Board of Realtors (SABOR) the city population grew 8.55% from 2010 -2016 and is projected to grow an additional 6.9% through 2021. The Metro population grew by 11.75% in the same period, and is expected to grow an additional 8.12% through 2021.
What does this mean for you? Now is a fantastic time to make those sales decisions! Growth is a positive thing in housing! There is an influx of all types of buyers and sellers – first-timers, sellers who are up-sizing, and sellers who are downsizing.
January-November total sales grew from 24,948 in 2015 to 27,059 in 2016, with the largest number of sales occurring in the $200K to $499K price range. Those sales increased by more than 2000 rising from 10,501 to 12,560.
Growth is even better news for home sellers! Months of Inventory (or the estimated time taken to sell all current listings in an area if no new listings became available) decreased year over year from 3.6 months in November 2015 to 3.3 months in November 2016. Inventory of 4 months or less is considered a ‘seller’s market’ because homes are selling very quickly giving sellers an advantage because property demand exceeds supply.
2016 data obtained through the SABOR Multiple Listing Service, shows 143 residential property sales in Area 1003 which encompasses the Leon Springs Area from The Rim to Ralph Fair Road Eastside of IH10W.
Growth expectations show that 2017 is the year to make your home dreams come true!
Gina M. Sohmer is a veteran, earned an MBA, is a second generation REALTOR® and is a Graduate of the REALTOR® Institute. She is a member of the Phyllis Browning Company, San Antonio’s Largest Independently Owned Real Estate Company. Visit her online at www.ginasohmerrealestate.com to help YOU make YOUR Real Estate Dreams Come True!