How is the Housing Market in Monte Vista Doing? (San Antonio: days on market, for sale)

[Proffer]

I was wondering how home sales in Monte Vista are doing as compared to recent months and years. Kind of hesitant to even ask because real estate agents will always say "never been better," or at the least say "it's been better, but still really strong." I thought I would ask anyway. Thanks.

[TexasWeatherman]

Originally Posted by Proffer

I was wondering how home sales in Monte Vista are doing as compared to recent months and years. Kind of hesitant to even ask because real estate agents will always say "never been better," or at the least say "it's been better, but still really strong." I thought I would ask anyway. Thanks.

There's never been a better time to buy!

[JuneOf48]

I would imagine anything a little on the smaller side and priced right is doing well. I do, however, see a pretty good handful of those giant, beautiful mansions with "for sale" signs--and they've been that way for a long time.

See if you can find a post on here from the person who goes by the name of "dvlpr." He lives in Monte Vista, and he's incredibly knowledge about the real estate situation--and he's not an agent.

I live right next door in Tobin Hill--the bad side of town! MV is a beautiful neighborhood.

[ShaneSA]

San Antonio market in general is reporting an increase in prices at 4%. Sales in gerneral are starting to pick up and listed as increased. However, last year there was the tax rebate on purchases and it created a false increase in sales figures. A spike, but not a natural spike. The market is there for buyers and sellers, the financing is the problem now. After years of handing out bags of money to anyone who wanted a McMansion, the lenders are now scrutinizing everything and being anal about the slightest glitch in anyone's finances.
I'm not a realtor or finance person, I just watch and see what is happening. This is all my take how I see what is happening.

[jogi]

I live in MV and although we have not seen huge increases there is always a market due to lack of land for buyers who love historic properties. Not for everyone but I would not be concerned about resale.

[sshurgot]

Here are the numbers, unadulterated, for Monte Vista (single family detached residential only). The first graph shows the median selling price from 2004 to 2011 (keep in mind that this is only July 2011 so it's looking pretty good).



And here we have the number of homes sold in red and the number of days on the market in green. Voila, there you have it. (And yes I'm a real estate broker, but I taught statistics for many years.)

[sshurgot]

And here's San Antonio (not including AH, LV, CH, etc.). These are the median selling prices 2004-2010. Every July has broken a record for prices with $155,000 in 2010. So far for July 2011 we're sitting at $152,500 but we should have another 900 closings reported by the end of the month (right now we have 340).

[Proffer]

thanks much. sshurgot, monte vista homes sold in 2011 sat on the market for an average of 225 days? although using the median does account for outliers, is there any way to chart patterns for only SMALLER homes in monte vista? thanks.

as for the 4% increase, the newspaper article on that attributed this increase to the upper end of the market only--not the smaller homes.

[sshurgot]

Originally Posted by Proffer

thanks much. sshurgot, monte vista homes sold in 2011 sat on the market for an average of 225 days? although using the median does account for outliers, is there any way to chart patterns for only SMALLER homes in monte vista? thanks.

Yes 225 days as opposed to 118 for all of San Antonio. I thought that was pretty interesting.

Give me some criteria, I can do a lot of customizing. It would be a good idea to narrow down using number of bedrooms/bathrooms and/or square footage. A 3,000 sqft house certainly doesn't sell the same way as a 1,000 sqft house. Obviously there are many factors specific to each home that will make it easier or harder to sell, but at least this exercise will give us an idea of what the trend is.

[austindoxie1972]

sshurgot-- thanks for the stats. the days on market is a bit scary, must say.