SAN ANTONIO – Realtor Steven Garza listed a four-bedroom, two-bath, half-century-old house on Friday. It was sold by Sunday.
“We had an offer before we even hit the market,” Garza said.
House hunting? Use this handy checklist before you make the offer
The seller received multiple offers, which is not uncommon. Sales are through the roof before heading into the summer.
In April, 2,848 homes were sold in the San Antonio area, reflecting a whopping 17 percent increase over a year ago, according to figures released by the San Antonio Board of Realtors.
The median price of those homes was $222,800, a more modest 3 percent increase over last April.
With home sales sizzling, that’s led to a tight inventory and challenges for buyers. For house hunters, the competition is on.
“First of all, they need to know what their price range is,” said Trudy Pape, with the San Antonio Board of Realtors.
Pape said buyers need to be ready to pounce when they find the house of their dreams. That means shopping for a loan and getting pre-approved.
“With the tight market we have right now, if you find a house that you really like and you want to make an offer on it, we don’t have time to go to the lender and ask if you can qualify for that house,” she said.
Pape said there is still room for price negotiation, but consider this: 98 percent of sellers last month got their asking price or more.
As school lets out and summer getting rolling, real estate agents say San Antonio can expect the housing market continue to heat up.
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