San Antonio Real Estate Market - Don't believe everything you read

I just read the January 16, 2009 article in San Antonio Express News titled S.A Home-Price Fall is Biggest in Decade. My first reaction to the article was they are wrong, but I continued to read before I set about doing my own research.


The article goes on about how the median price of homes in San Antonio fell 7% to $139,900 in December 2008 from $150,700 in December 2007. Bob Gardner presented data not more than 2 weeks ago showing the median home price in San Antonio went up by $300 in 2008. The 2009 SABOR Housing Forecast data was based on analysis of the San Antonio real estate market and here he was being quoted in the paper as saying "It's just disappointing"... "The December numbers didn't show any improvement. I was hopeful that it would." Now my take on the article is that it is very possible that some things may have been taken out of context so I looked at some numbers using the tools provided by the San Antonio Board of Realtors and this is what I came up with.


Basis for analysis: All Areas within the San Antonio BOR

Jan 1-Dec 31, 2007: 22927 units sold; Med Sales Price $150,000; Ave Sales Price $183,161
Jan 1-Dec 31, 2008: 18412 units sold; Med Sales Price $150,000; Ave Sales Price $185,525

Dec 1-31, 2007: 1625 units sold; Med Sales Price $150,000; Ave Sales Price $183,968
Dec 1-31, 2007: 1221 units sold; Med Sales Price $140,393; Ave Sales Price $177,388


Month-to-Month Comparison: December 2007 vs December 2008 shows almost a 25% decrease in units sold, a decrease of 6.4% in the median sales price and a 3.58% decrease in the average sales price. So, yes there was a decrease in the median home price and the San Antonio real estate market in December; however, it takes 8 data points to show a trend and 2008 is still expected to be one of the top 5 years ever.

Year-to-Year Comparison: 2007 vs 2008 shows a 19.7% decrease in units sold, no significant change in the median sales price and a 1.29% increase in the average sales price. Overall, 2008 was a banner year compared to the 1980's and with over 10,000 homes on the market, great interest rates, no significant change in the median home price ($300 increase - 2009 SABOR Housing Forecast) and homes priced below $200,000 making up 74% of the market now is the Time To Buy!


Now from my position as a professional in the San Antonio real estate market the annual numbers speak volumes over a single month. So after reading the SA Express News article and the 2009 Housing Forecast my conclusion is two fold: 1) Continue listening to the professionals who study the numbers, and 2) when asked "How's the market?" continue running my own analysis and presenting the data to those who ask in a way so they can make a conclusion on their own.

So if you are interested in the numbers that I came up with using the best tool (SABOR MLS) to find a home in the San Antonio real estate market click HERE and select the bottom tab on the left column labeled 2008 Market Analysis.

Nucular/Nuclear vs Realator/REALTOR®

Okay, we've all done it. Mispronounced a word by adding a letter or two and have it just drive someone up the wall. As a professional real estate agent (REALTOR®) I hear it every day. Hey, even my fellow and sister agents say it. I'm sure I've said it more than once.

So who are we? Well we are real estate agents that are bound by a code of ethics outlined by the National Association of Realtors® and the San Antonio Board of Realtors®. We have access to the entire list of homes on the Multi-listing Service (MLS) and when we represent a client we owe fiduciary responsibility to them. What a big word! Basically I have to put their interests above mine and the Broker's. I cannot describe legaleze using legal terms because then I am practicing law and I can't do that either.

So, regardless if you say REALTOR® or realator, I'll respond professionally to you by always providing Core Services. Click HERE to see what they are.