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San Antonio Area Home Sales, Prices Increase as Summer Heats Up

May '18 SABOR stats

The San Antonio area housing market is continuing to outpace last year, as summer gets into full swing. May reported an eight percent increase in home sales over last year for a total of 3,326 homes sold, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. Average and median prices both experienced five percent year-over-year growth,
with the average rising to $270,324 and the median increasing to $231,900. Months of inventory remained low with 3.6 months available in May, a slight decrease from the 3.7 months available in May the previous year.

“Prices tend to rise in the summer months as demand increases. People often want to move before the next school year starts making it a popular buying and selling season,” said Lorena Peña, SABOR’s 2018 Chairman of the Board.
“With such high demand and low inventory, it is important to work with your REALTOR® to navigate your options and be ready to make a decision quickly.”

As the home buying season heats up, home sellers are taking advantage of the competitive market to list their homes. In fact, new listings totaled 4,532 in May, an increase of over 300 more than this time last year. Additionally, there were a total of 9,531 active listings on the market in May and the month ended with 2,917 sales still pending.
In the San Antonio area, the majority of homes sold were priced between $200,000 and $500,000, with those sales making up 57.3 percent of the month’s market. Meanwhile, homes priced under $200,000 accounted for 36.6 percent of the sales in May and homes priced over $500,000 made up six percent of the market.

Bexar County reported a total of 2,333 single-family homes sold in May, a 1.9 percent year-over-year increase. The average price of a home sold in the county was $258,352, a 5.1 percent increase from 2017 while the median price increased 5.3 percent to $218,000.

SABOR Multiple Listing Service Report:

San Antonio Home Sales Recap May 2016 May 2017 May 2018
Total Month Sales  2,811 (10% increase)  3,091 (11% increase)  3,326 (8% increase)
Average Price  $245,030 (2% increase)  $256,677 (5% increase)  $270,324 (5% increase)
Median Price  $208,600 (3% increase)  $221,300 (5% increase)  $231,900 (5% increase)

*Percentage increases are based on a year-over-year comparison.

If you are thinking of buying or selling a home in the San Antonio metropolitan area, and want to work with a trusted San Antonio REALTOR® throughout the process, contact Trudy Edwards of KELLER WILLIAMS Realty Heritage, at (210) 595-9801, or by email at TrueSARealEstate@gmail.com.

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10 Free Ways to Help Your Home Sell in Less Time

If you are thinking of selling your home, or whether it is on the market already, your home needs to look fresh and appealing to buyers, online and in person. This list details 10 things that you can do right now in your home for free to help improve your home’s marketability. Following these tips will help you attract more buyers to set appointments to see your home and make your home more appealing to buyers when they view your home.

  1. Keep the Front Yard Trimmed and Tidy. Create a great first impression by keeping your lawn weed free, trimmed and edged. Rake up any leaves and keep shrubs neatly trimmed and shaped. Colorful seasonal flowers can make a dramatic impact and help attract interest in your home, especially for the photos.
  2. Wash the Windows. It’s amazing how much dirt and grime can build up on your windows over time, making your windows look dark and dull. Cleaning your windows inside and out will help make your home look clean and appealing from the outside and more light and airy on the inside.
  3. Keep Your Home Odor Neutral. Your home’s odor can make a powerful first impression. If you are a smoker, or have pets, you might not notice the odors in your home, but home buyers certainly will. Thorough cleaning of carpets and drapes will help to reduce odors, as will keeping the air circulating throughout the home. Air fresheners are available in many different long lasting forms these days such as plug-ins, solids, liquids, and automatic misters.
  4. De-Clutter Your Home.You are getting ready to move, so why not start packing? Each box that you fill will be less to do later, and will help your home look cleaner and more spacious. You will also want to make sure that all mail and personal papers are stored out of sight.
  5. De-Personalize Your Home. We don’t want to totally remove the character from your home, but removing personal items such as photographs, children’s names on bedroom walls and collectible memorabilia will help to maintain your privacy and make it less distracting for home buyers who are trying to envision themselves living in your home.
  6. Create More Space in Your Closets. Create the sense that your home has plenty of storage space by making sure your closets have room to move in. Pack away clothing and accessories that are not in season.
  7. Make Minor Repairs. You don’t want to give buyers the impression that your home is not well maintained. Buyers will also be looking for any reason to reject your home or to negotiate a price reduction. So take care of any leaky faucets, patch up and paint any minor holes or cracks in the walls, replace the torn window screens and you will attract more potential buyers and minimize reductions or repairs to be negotiated later.
  8. Keep your Home Clean and Ready for Showings. Once your home is on the market, your home may be shown while you are at work or out shopping, or at short notice while you are at home. Get in the habit of keeping your home clean and ready for showings. Keep non-essential items off of counter tops. Keep a basket with a duster, polish and wipes at hand to quickly wipe surfaces.
  9. Keep Pets Confined.If it is possible to remove your pets from the home during showings, then that is the best solution. If pets can’t be removed from the premises, for example, while you are at work, then it is best to have to them confined in crates if possible.
  10. Stay Away During Showings. When your home is being shown by a Real Estate agent to prospective buyers, you should leave the house during the showing. Buyers often feel uncomfortable if the Sellers are present during a showing and as a result spend much less time looking at the home. Leaving the home and staying out of sight during showings, allows home buyers to take their time to comfortably tour and consider your homes features and suitability.

I hope that you found these home selling tips to be of benefit. For more home selling tips and seller resources, visit my website at TrudyEdwards.YourKWAgent.com