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.
Owner & Broker of River Valley Real Estate
19202 Huebner Rd. Suite 100
San Antonio, TX 78258