As we head deeper into fall, we’re still seeing a seller’s market.
What’s the latest news from our market as we make our way through fall?
First, we have about 3.6 months’ worth of inventory, which means we’re still seeing a seller’s market. For most sellers, this is great news, but if you have a more expensive home or it’s located in a certain area, your situation might be a little trickier.
Despite the fact that we’re in a seller’s market, we’re seeing a small reduction in the number of sales. This past September, there were 523 home sales, which is a 2% decrease compared to this time last year. In the city of San Antonio alone, that number constitutes a 3% decrease. Our average sale prices, on the other hand, have increased slightly to $261,800.
On a global scale, interest rates are slowly rising, which means our seller’s market is also a great market for buyers because they have an opportunity to buy now before rates rise further.
If you have any more questions about our market or you’re thinking of buying or selling a home, don’t hesitate to reach out to me. I’d love to help you.