The current state of the market in any zip code is determined by the absorbtion rate (in months) which is the ratio between the number of homes for sale which are not under contract, divided by the number of homes which are currently under contract. In 78425 that ratio is currently exactly 2, meaning that at the current rate of sale it would theoretically take only 2 months to clear all of the current inventory of homes for sale. In reality this never happens because new inventory is always being added, but it's an excellent guide to the current state of any market if the you consider the following general rules, which are endorsed by most real estate appraisers:
- Less than 3 months of inventory indicates healthy demand
- 4 months of inventory indicates a market in equilibrium (a balance between the number of buyers and sellers)
- more than 4 months of inventory indicates a progressively weaker market as the number of months increases.
Accordingly, as 78245 has only 2 months of inventory right now, it's in strong demand.
By the way, I have an outstanding buyer benefits program which could save you thousands of dollars across all the key elements of the home buying process. Please email me at Broker@BestPracticesRealty.com for full details.
Leah McNamara GRI BPOR
Best Practices Realty
Direct: (210) 745-1411
I know that area also has many long-time retired military families...
Give me a call anytime with questions or other San Antonio chit-chat.
Realty Executives - Select Properties
What neighborhood do you live in? I have a family member that lives in Hummingbird Estates off Kroewald Rd. I know they are still building in the neighborhood. I would love I show you around the area, I'm very familiar with it. Send me an email and I'd be happy to help.
JB Goodwin REALTORS
Jose L. Novelo