San Antonio Surpasses Austin in the Real Estate Market
Move aside Austin and make way for San Antonio!
Just last month, our thriving metropolis surpassed the Live Music Capital of the World when it ranked No. 6 among the top 10 up-and-coming tech markets in the country, according to CultureMap. That, combined with its affordability and continued job growth, has FOX Business projecting that more millennials, executives and businesses will continue moving to and calling the Alamo City home.
So it came as no surprise that during the 2020 San Antonio Board of REALTORS® Housing Forecast, an annual gathering where experts share how market conditions, industry trends and community circumstances will impact real estate, it was predicted that our city and the surrounding areas are going to maintain a path upwards.
“We have experienced a strong market for the last few years,” Patti Nelson said, “and that trend is expected to continue.”
Even the luxury market is thriving and likely to boom in San Antonio and the Hill Country this year.
“Most of these buyers are projected to be moving in from areas where the tax base is skyrocketing,” Patti said. “I have already seen an influx of affluent out-of-state buyers ready to make the move.”
So for those interested in buying or selling, now is a great time!
“For sellers, it’s ideal to list because inventory is low,” Patti said. “First impressions are everything! It is important that sellers have the maintenance on their home up-to-date as well as have the home clean, staged and photo-ready.”
That is why Patti offers free home staging. She wants to help sellers prepare for the best return.
“Buyers, on the other hand, can also benefit from the market,” she said. “This is an unprecedented time for low-interest rates. It just makes sense to buy now if you are thinking about a purchase.”
In fact, acclaimed Real Estate Economist Dr. Mark Dotzour predicted that interest rates will continue to drop, possibly even as low as 2% in the next year.
“Because of this and the fact that inventory is low, buyers need to be aware that homes will oftentimes move quickly,” Patti said.
With one of the strongest real estate markets coupled with a strong economic forecast now is the time to make a move! Our motto "Together We Can Do Great Things” exemplifies how we work at Patti Nelson Luxury. Whether first time home buyers or luxury estates – together we have the experience, knowledge and expertise to assure a seamless transaction!