According to the MLS, there are 10828 active single family homes on the market. That means there are 10828 homes for sale in the San Antonio and Surrounding Areas. That doesn't sound like many but 5052 homes in all price ranges and areas sold in the last 4 months. That means that an average of 1265 homes are selling each month. To all of those Home Sellers who say homes aren't selling------they are. We do have a 8.5 month inventory of homes. In plain English we could say that it would take 8.5 months to sell all of the homes on the market if no new houses came on the market.
Typically, a seller's market has a 5-6 month inventory or less. We are higher than that but we could be higher.
Here is the problem I see. I am in and out of homes every day and I am evaluating homes and prices every day. Many of those 10828 homes will never sell because they are priced too high for the market. Buyers are looking for value and they pick the homes with the best value----the most features and the best condition for the price. It behooves sellers to have their homes in top condition and price the home ahead of the market. They then have the best chance to be the home in their area that gets to sell.
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