It’s Still a Seller’s Market

Wow – compare this spring to the spring of 2014!  It is still a seller’s market – but even brisker than last year.  Last Friday afternoon we put a house on the market priced just a little above the median price (approximately $188,000) at $215,000 in a Stone Oak subdivision.  On Saturday, we had so many showings, the seller couldn’t even come home.

By the end of the day, we had seven offers.  So – we did what sellers usually do – we asked for the best and final offer letting everyone know we had multiple offers.  Every buyer stayed in the game and adjust their price.  We ended up putting this house under contract at $10,000 over list price.



Needless to say, the seller is thrilled for several reasons.  Of course the biggest reason is their house is under contract.  Second, they don’t have to show it anymore.  Third, they get to close this month and lease it back until they change duty stations in June.

You have probably heard, the inventory of houses for sale in San Antonio is very low – 3.6 months low.  Which means if no other houses hit the market, all the houses currently listed would be sold in 3.6 months.

If you have thought about selling, it is a great time to be a seller.  On the buy side, assuming you can find a house, the interest rates are still incredibly low – hovering around 4% and lenders have loosened up and are lending more money.  With the economy finally heating up, I don’t expect the interest rates to stay this low much longer.

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