When it comes to real estate, it’s all about location, location, location, right? Sure, but don’t forget timing! As with any other market, housing is subject to seasonal fluctuations due to its effect on supply and demand. Knowing the current state of the housing market will help you get the best deal possible on your new home.
If you’re ready to buy a house in the Alamo City, get to know the trends in the region’s monthly home sales activity. Timing things right will help you land your dream home without losing your shirt in the process. An experienced local real estate agent will help you find the house that meets your needs and your budget.
Here’s what you need to know about the best time to buy in San Antonio:
Best Time of Year to Buy in San Antonio
As a general rule, home sales tend to peak in the late spring/early summer and slow down toward the end of the year. The reasons are obvious — spring weather is more conducive to the labor involved in packing and transporting, and for families, it’s easier to move when school isn’t in session. According to data from the National Association of Realtors, home sales in May, June, July, and August account for 40% of annual home sales volume.
That’s great news for sellers, but for buyers, the best advice is to be cool — cool weather, that is. October through February are the best months for those looking to get a killer deal on a home. By the first of the year, many houses have been on the market for several months, making the sellers more apt to cut a deal.
With San Antonio smack dab in the midst of a seller’s market right now, it’s even more critical to time things right. The current median home value is around $176,000. The city’s home values rose 7.7% in the past year, and Zillow expects they’ll climb another 4.5% in 2019. In addition to timing the market, consider a home buyer rebate as another tool to save money on your home purchase.
The Best Places to Buy a Home in San Antonio
- Terrell Hills: This relatively upscale neighborhood is a great option for people looking for homes in a higher price range. It boasts highly-rated schools and is near great walking trails.
- McAllister Park: Affordable, with easy access to schools, parks, and shopping centers, this is a great option for families. Home values in McAllister Park are expected to grow.
- Hill Country Village: This village gives residents a small-town atmosphere, but easy access to U.S. 281 and entertainment and shopping options.
- Government Hill: This zone’s walkability and proximity to the King William Historic District has given it a boost in popularity- and home values.
- Pecan Valley: This suburban neighborhood is just a short drive from downtown San Antonio. A lower cost of living and stable home prices make it an appealing option for people looking for a little quiet outside the big city.
4 Ways to Get a Great Deal On a Home in San Antonio
Find a Great San Antonio Real Estate Agent
Face it, buying a home is a huge investment, and finding one that’s right for you, while navigating all the financial and legal obligations, is a daunting prospect. But you don’t have to go it alone. A buyer’s agent has your back throughout the entire process, from narrowing down the best home for your needs to guiding you through the offer and final sale.
Assess Your Needs and Lay Out Your Goals
The more you plan ahead of time, the more confident you’ll be in selecting the perfect home. Before you even cross the threshold of an open house, lay out your must-haves and deal breakers. Are you looking for an investment property or a ranch-style house in the suburbs? Will you need easy access to the highway, or is a walking trail more in line with your lifestyle? Your agent will use this information to filter out any listings that don’t align with your goals.
Find a Lender and Secure Financing
Unless you’re paying in cash, you’ll need to review your financial situation, build a budget, and research financing options. Your buyer’s agent will identify a price point based on your budget and determine which home loan option is best for your needs and financial situation. When securing funds for a new home, especially if you’re on a fixed timeline, keep in mind that the closing process typically takes around 30 days.
Negotiate for the Best Possible Price
You’ve found your dream home, hooray! The bad news is, you’re buying in a seller’s market and your negotiation prowess… well, you can’t even persuade your dog to get off the bed. If you get pulled into a bidding war, the end won’t be pretty. This is where your buyer’s agent’s skills shine through. They know the market, know the value of similar properties in similar neighborhoods, and will use that knowledge to negotiate a price that’s fair for the buyer and seller.
If you’re ready to make your home in San Antonio, a Clever Partner Agent will guide you from showing to closing. Fill out this simple online form to get in touch with a local Clever Partner Agent today for a no-obligation consultation.
Clever Partner Agents are the experts in current prices, market conditions, and desirable locations and will tailor your search to best meet your needs.
Be sure to ask your Clever Partner Agent for options on FHA loans, mortgages, and insurance, too.