When is the home buying season?
(a case study of the
Stone Oak area)
The title is a loaded question. So, let’s clear things
up by stating that I am asking when is the best time of the year to look for
and purchase a home within the Stone Oak area.
To answer this question, I completed a market analysis
of the general Stone Oak area inclusive of all single family homes regardless
of size or price over the past three years. As
a homeowner and Broker, my opinion tends to focus on price and competition more
than on the amount of available inventory.
I like to think I made a good purchase price-wise, and I don’t like to
be involved in bidding wars on a property with other buyers. I understand that many of us are not afforded
the luxury of purchasing when we want to but rather when we have too due to
jobs schools or what have you.
When looking at the closed transactions over the past
three years, July consistently has the largest number of closed transactions,
and they were twice, if not three times the number as the corresponding
January. June is just slightly behind
with August being third for all but one year.
It is important to keep in mind that these statistics are based on the
date the home closed and funded.
Therefore, the homes were escrowed under contract between 30 to 60 days
prior in most cases. With that in mind,
April, May and June are noted as the hottest selling months within the Stone
Oak Area.
Another interesting factor concerns price per square
foot. Of the three months evaluated, February has the lowest price per square
foot sale prices two of the three last years.
Remember, that these sales more than likely occurred during December or
November.
So, what‘s the take away? Well, if you are like me and value price and
limited competition, the fall is the beginning of the home shopping season with
the best deals being made in November and December.
Last, I would mention that there is just as much
valuable information contained within this study for those wanting to sell
their home. When you are considering a
Realtor, remember there are some that really study the market tends and offer
much more than a sign in the yard and an internet posting. I invite you to allow us the opportunity to
interview for your business. You will
appreciate our professional approach.
Bill Barkley
Owner & Broker of River Valley Real Estate
San Antonio, TX 78258
210-853-5327
bill@rvreco.com
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