Selling Your San Antonio Home-Use the Right Comparables
Fail to use thee right comparables and you’ll be left in the cold. In our Multiple Listing Service (MLS) areas are divided into geographic sectors. This is to make it easy to segment the market. Below is area 1801, a segment of north central San Antonio.
If you are familiar with the layout of the city, the southern boundary is Loop 1604 and US 281 forms the eastern boundary. The community names are in pink, too small to read on this map.
There are several sources that purport to provide information about sales prices in our area. The San Antonio Express News has a weekly summary that provides a high-level snap shot of sales activity. And there are national providers of information that claim to provide accurate information. Although I have not done an exhaustive comparison of their assessments, the ones I have examined are not ones I would use for an Offer Price.
Here is the problem with some of these comparables. The area being used to obtain the price estimate is too large to be used for a specific home in a community. In the area mapped, above, there are homes selling over $1M and on the low-end, homes just under $200K.
Here are the stats for the past three months for Area 1801-
If a home Seller in say Champions Ridge, a community in Area 1801, decided to use the sales comparables as published in an article in a publication or website the averages are really below comparable homes in the area. Conversely, if a Seller in another area 1801 community, Champion Springs used the average or even median numbers for the area, they would really be over pricing for typical homes in the area.
Whether you are selling your home in Rogers Ranch, The Vineyard, or The Villages at Stone Oak, when selling your San Antonio home, you should use the right comparables. The buyers will be using comparables to make their offer. The closer to the mark for your area the better your chance for getting an offer and an agreement.
I can help you select the correct comparables and develop a marketing plan to get your home sold. Call me if I can help you.