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With a promising job outlook and an affordable cost of living, it’s no wonder San Antonio is among the best places to live in Texas. In addition, the National Association of Realtors recently named the city one of its top markets to watch in 2023, representing an excellent opportunity if you’re planning to sell here. Here’s everything you need to know about selling your home fast in San Antonio.
How fast can you typically sell your house in San Antonio?
According to data from the San Antonio Board of Realtors (SABOR), single-family homes in the city took around 70 days to sell in February 2023 — an 84 percent increase from the year before. Pricier houses often take longer than that, while more affordable ones can go faster. Properties sold for between $150,000 and $199,000 spent just 53 days on the market, for example, while those between $500,000 and $1 million averaged 76 days.
Need to sell even faster?
Sometimes, waiting is not an option. If you’re in a rush, here are some ways to sell your home quickly.
- Consider a cash buyer or iBuyer: Opendoor and Offerpad, the country’s two biggest iBuyers, both operate in the San Antonio area and can make super-quick cash offers on homes, typically in 24 hours or less. Companies that buy houses for cash also work on a very speedy timeline. But be aware that, with both options, you’ll probably get less money for your home than you would in a traditional sale.
- Strategize with a real estate agent: A knowledgeable real estate agent can help streamline the selling process (just be sure to let them know that speed is of the essence). Your agent will guide you through pricing strategies based on the local market and may even recommend listing your property below market value to attract attention fast.
- Sell the home as-is: If the property needs work or is not in great condition, selling as-is is a great way to avoid lengthy back-and-forth conversations. This tells buyers that you’re not interested in wasting time with negotiations.
Selling your home in San Antonio
If you opt for a traditional sale, consider these key questions before listing your home on the market.
What should you fix before selling your home in San Antonio?
Your real estate agent can help you figure out what repairs your home needs before it’s seen by prospective buyers. But it couldn’t hurt to schedule a pre-listing inspection as well — it’s the best way to uncover any potential issues before they’re uncovered by the buyer. You probably won’t need to fix every single problem, but make sure to ask your agent for guidance.
Is it worth upgrading your home before you sell?
In most cases, the answer will be no. You likely won’t be able to recoup the complete cost of a renovation, and if you want to sell quickly you won’t have time for that anyway. Instead, look into more cost-effective ways of boosting your home’s appeal, like a fresh coat of paint or new flower boxes.
Should you pay to stage your home?
Professional home staging can help homes sell faster and for more money, but it’s not always necessary. If you can pare down your belongings enough to make everything uncluttered and welcoming for buyers, you may be able to skip it. Again, ask your agent for guidance here.
How should you price your listing?
National housing prices have been on a wild ride over the past year, and San Antonio is no exception. As of January 2023, the median sale price of a single-family home in San Antonio was $308,249, according to SABOR, which was down more than 9 percent from mid-2022 but still up 3 percent year-over-year. An experienced local real estate agent can look at comps in the area and help you determine how much your home is worth, so you can come up with an appropriate list price.
What do you need to disclose to a buyer?
When you sell a house in Texas, you’re legally required to fill out a seller’s disclosure notice. In it, you’ll need to provide comprehensive details about your property’s condition, features, defects, flooding potential and more. If your home belongs to a homeowner’s association (HOA), you will need to provide relevant documentation about that as well, including membership dues and bylaws.
The closing table is where you’ll wrap up several crucially important matters, like transferring the property to the buyer and paying off what’s left on your mortgage. There are also closing costs to deal with.
Cost of selling a home in San Antonio
Closing costs for San Antonio sellers cover a number of different expenses, including escrow fees and agent commissions. The cost of title insurance is often negotiable in Texas, so you may be able to split that one with the buyer. The commissions are what will make the biggest dent in your profits: They typically run about 5 to 6 percent of a home’s sale price, which on a $300,000 home can be up to $18,000.
Outside of those agent fees, closing costs in Texas average around $4,548. They will likely be higher when you factor in any concessions or real estate attorney fees. There is some good news for San Antonio homeowners, though: Texas has no real estate transfer taxes, so you won’t need to account for those in your closing cost calculations.
When you’re ready to sell your house in San Antonio, hiring a real estate agent is an excellent first step. Look for someone who you feel comfortable with, but also who’s an expert in your local market — not just the city, but your specific neighborhood. If you’re on a tight timeline or need money as soon as possible, selling to a cash-for-homes company or iBuyer can be a good alternative.
The market isn’t as seller-friendly as it was in the middle of last year, but it’s still a decent time to sell. San Antonio home prices peaked in the summer of 2022 and have been falling fairly steadily since then, according to data from the San Antonio Board of Realtors. However, February’s median price of $310,000 is up 2 percent since last year.
If you go the traditional sale route, single-family homes are spending around 70 days on the market, according to San Antonio Board of Realtors data. Higher-priced houses tend to take longer to sell, while cheaper properties may go faster. The fastest method of all is to sell to an iBuyer or a homebuying company, which can move much, much faster.
Per Texas state law, sellers must complete a disclosure statement that outlines everything from the home’s current condition to future risk potential. You’ll also have to turn over any relevant homeowners association documents and pay off any outstanding property taxes.
It’s not a requirement. However, this is likely one of the largest financial transactions of your life, and the cost of legal expertise is worth it for peace of mind that the transaction is being handled correctly.