Is it really still a buyer’s market today in San Antonio? As specialists in the San Antonio real estate market, we get asked this question a lot of the time.
The answer isn’t always as easy as yes or no, either.
The State of the Market for Buyers in San Antonio Texas
First of all, it actually depends on the property type and place.
Single-family houses in great places that are priced well have actually been flying off the shelves. There’s a great deal of demand in the market for specific locations, while others can look like ghost towns.
Buyers are often trying to find the same thing— great neighborhoods, access to transportation, shopping, excellent schools, close to work, and so on. Properties that provide all these are certainly a hot commodity. Sellers with a highly desirable property are in control of the marketplace.
But for townhouses and condos— particularly those a little off the beaten path, or with some funky features– it can be another story all together. Costs were down in certain locations of San Antonio, but now appear to be rebounding as the rental market increases.
Investment properties are in high demand. The massive quantities of foreign money flooding in to buy United States real estate have affected the San Antonio market in unique ways.
Overall, those individuals that are in a position to pay cash for properties have been getting the best deals in the market.
Lots of sellers are experimenting with speculative costs just to see if anyone bites, however the majority of investors are walking away from deals that do not pencil out.
Financing is still a significant challenge for buyers. Banks are being exceptionally strict, requiring great deals of money down and even changing their terms at the last minute. It’s not unusual for approved buyers to get their loans pulled right before closing escrow, although it is getting better than it was just a couple of years back.
Overall the markets stay extremely polarized– there is a great deal of action at the very top and the very bottom, with the biggest challenges in between.
Sound confusing? It is. But We Can Help.
There’s a great deal of shakeup in the US economy still happening, and the markets are moving fast in a lot of different directions all at once.
We’re investing in San Antonio due to the fact that we believe in the community and people here.
If you need to sell a house in or around the San Antonio area, we can help you.
We buy houses like yours from people who need to sell fast.