Houses for Sale in San Antonio
The financial recession gave the housing industry a hard blow, with thousands of Americans losing their houses as mortgage loans have been left unpaid. Now that the recession is over, it’s time to consider investing anew on real estate in San Antonio. With over 13,000 houses for sale in San Antonio, there are certainly a lot of options to choose from. At the risk of losing property to another recession, it has become more imperative than ever to follow some safety measures before making an offer for any house. This is to ensure that, regardless of the state of the economy, you would be able to fund your house, mortgage or no mortgage. If you are seriously considering investing in a house in Sanantonio, then it is important to look at the current housing industry trends in the area.
The Housing Market in San Antonio:
As of this year, there are approximately 13, 991 houses for sale in San Antonio;
109 of which are newly built homes and a little over 6 thousand of which are foreclosed homes, the rest are made available as open houses or sold directly by previous owners. If you want to buy a house in San Antonio, it would be useful to contact a real estate agent, as they have access to more houses in the area, giving you more options. If you want to ensure to get only prime properties, then it is essential to do a little research yourself even while consulting with a property agent.
Average Housing Prices:
The average price per square meter of houses for sale in San Antonio is roughly $55, with a 1.9% increase compared to the third quarter of last year. The median price of these houses is about $69,231, based on 186 houses sold. The median price for houses in San Antonio has a 13.5% decrease compared to the median prices of houses in the same period last year. The number of houses sold increased by 7.5%.
The average listing price for houses for sale in San Antonio is about $231,357. Houses located in prime neighborhoods are generally higher than those located in middle-class neighborhoods. Houses in Dominion and Monte Vista are sold for average listing prices of $994,140 and $769,731. If you plan to invest in prime properties in San Antonio, it is better to invest as soon as possible, as price listings are expected to become higher in the years to come, especially with increasing economic growth.
Estimated Mortgage Loans Interest Rates:
If you plan to fund your property with a loan, then it is important to have a rough estimate of how much you are entitled to and how much you have to pay on premiums, given the amount you are borrowing. Houses for sale in San Antonio can be funded with different kinds of mortgage loans, as is the case with other areas. For a 15 Year fixed mortgage loan, expect to pay interest rates of around 3.750%, depending on the lending company you choose. The cheapest rates are for 1 Year ARM plans, with interest rates of 3.071%.
Before investing in any property, it is important to make a thorough analysis of your current financial situation to avoid any problems later on.