Column - July 2018
Buy Now Before Prices Go Any Higher!
The U.S Census Bureau reports that San Antonio is the #1 Fastest Growing US city! From July 1, 2016, to July 1, 2017, the population grew an average of 66 new residents per day!
The Top 5 Fastest Growing Zip Codes in the San Antonio Metro area from 2010-2017 are: (rank, zip code, population growth rate/percentage, 2017 total population):
1. 78215, 16%, 3567
2. 78235, 8%, 722
3. 78253, 7%, 48,482
4. 78261, 7%, 21,710
5. 78015, 6%, 15,523
Closer to San Antonio, Comal County grew by almost 7,000 people from 2016 to 2017 to just more than 140,000 people! It was the #1 Fastest Growing County in Texas! In fact, the Top 3 fastest growing counties in Texas, are all part of the San Antonio commuting area! Hays County was #2, with a population increase of 4.96% and Kendall County was #3, with a growth of 4.91%!
Overall, in 2016, Comal County grew by 5.12% and ranked the 7th-Fastest-Growing county in America!
AAAAAH, Statistics! So, what does all of this mean to you the home seller or buyer????
It’s basic economics! Supply and Demand drive prices. It means home and rental prices are rising as new residents compete for a limited number of properties!
Sellers could expect that if they correctly price a home (that is ALSO in good condition), they could possibly see even multiple offers come in, and a quick close! According to Texas Quarterly, 1st Qtr 2018 saw an average Total Days on the Market of 100 days.
Buyers, who are competing with more buyers and fewer available homes, must be prepared with lender preapprovals and have the ability to make a quick purchasing decision: If they want to secure the home of their dreams!
Looking to Sell or Buy a home? Call me at 210-608-0650 to help you make your real estate dreams come true!
Gina M. Sohmer, is a veteran, a 2nd-Generation REALTOR®, a Graduate of the REALTOR® Institute, a Seller’s Representative Specialist, an Accredited Buyer’s Representative, and a member of the Phyllis Browning Company. You can reach her at www.ginasohmerrealestate.com.