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Spring 2012 Market Update
I have been workign with my clients in using the buyers market to our advantage and if at all possible negotiting the lowest possible price on homes which in a sellers market or even a more balance market might sell for around 10% more. It is a good time to go into a home with some level of instant equity and potentially have much of the buyer closing costs paid for by the seller.
If you can qualify, now is an exceptional time to buy a home in Canyon Springs. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 210-204-6284
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| Average Home Price | $350,000 - View Graph Trend |
| Average Price Compared to Last Year | Up 0-5% |
| Average Time on Market | 60-90 days |
| Best Selling Price Range | $250,000 - $299,000 |
| Worst Selling Price Range | $800,000 - $849,000 |
| Prices As % of Asking Price | 95-100% |
| Existing Home Prices for the past 90 days are? | Decreasing |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in Canyon Springs is | Increasing |
| Seller Activity for the past 90 days in Canyon Springs is? | No Change |
| Multiple Offers? | No |
| Multiple Offers Commentary | In some cases where the home is priced correctly multiple offers though not prevalent are possible. For the most part multiple offers are not occurring in the higher price ranges due to the limited amount of buyers. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 5-10% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | Financing is available for qualified buyers and we also provide information for our preferred lenders to ensure a smooth purchase. |
| Housing Inventory | Good supply - Some Prices |
| Inventory Comments | There is a good size inventory in Canyon Springs, however, much like many desireable areas the more attractive homes with curb appeal which are priced correctly are still selling in under 90 days. In this market sellers need to price correctly from the beginning or they will suffer with longer Days on Market. There are some falling home prices in Canyon Srpings, but much of the inventory homes which have had price adjustments downward are due to overpricing from the beginning and home condition. |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Population Growth |
| Nearest Metro Area | San Antonio |
| Housing Hot Spots | Other Housing hotspots in the area would be Stone Oak which has long had a reputation as a nice place to live with many different types of jobs available for people new to the area. Cibolo Canyons which is east of HWY 281, but not far, is definitely considered a housing hotspot with the completion of the TPC Golfcourse and the JW Marriott nearing it will surely be a place which many people will decide to purchase a home. See our Cibolo Canyons website for details. |
| Average Sold Price | $350,000 - View Graph Trend |
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Brayson Verzella
Keller Williams Realty Heritage
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