I don’t care much about statistics. For one reason: they only reflect what has happened in the past. Sure, there are economists and others who will project what will happen tomorrow based on what happened yesterday. But they are only moderately successful at being correct. That being said, I’ve produced some statistics showing the overall sales performance for northwest San Antonio area , my primary area of interest, over the past four years. These statistics are reflective of activity throughout the San Antonio area.
For the most part, the following chart reflects the downturn in the economy, but with some unexpected variations that bode well for our fair city, if you want to project the future based on past results.
Year | Nr. Of Sales | List Price | Sales Price | % List Price | Days on Market |
2006 | 6783 | $170,538 | $167,796 | 98 | 48 |
2007 | 6435 | $186,954 | $181,465 | 97 | 62 |
2008 | 4995 | $190,521 | $181,932 | 95 | 98 |
2009 | 5053 | $181,586 | $174,657 | 96 | 121 |
| | | | | |
What I find interesting in these statistics is that the average sales price in 2009, although lower than 2007 and 2008, is actually higher than in 2006, the year that began the short term increase in sales prices across the country. Of further interest is that the average days on market in 2009 is far greater than in 2006. To me this shows the tough-mindedness of sellers in San Antonio, who refuse to give-in to the huge decrease in sales prices in some other major cities across the country.
What about 2010? San Antonio lost a lot of jobs in 2009, but was still able to maintain respectable statistics in real estate sales. Going back to my original statement that statistics are all about history and don’t really tell us how our market will perform in the future, I’m going to base my prediction for 2010 one other factor. That being our almost certain potential for growth in the local job market. According to a recent report by Mayor Julian Castro, over 5,000 new jobs are already earmarked for the expansion at the huge army complex at Fort Sam Houston. Additionally, the mayor cites incentive programs being offered to developers, which he is certain will attract major companies to relocate to San Antoinio. Even if the mayor is only moderately correct in his job growth projections of 20,000 new jobs in 2010, any increase will be a boost to our real estate market.
Beyond all the statistics and predictions, San Antonio is a great place to live! Visit my website at www.EdBarrettHomefinder for up-to-date information on the local real estate market.