Monthly Archives: March 2012

San Antonio Home Prices Continue on Upswing

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San Antonio Real Estate continues on uspswing

 San Antonio Continues to buck the national trend for home prices as local average home prices continue on an upswing.

The San Antonio Board of REALTORS® recently released report of MLS home sales statistics for February 2012 shows San Antonio home prices are continuing an upward trend.

In February 2012, the average home price was $183,955 a 3 percent increase from the same month last year. Median home prices remained stable at $147,100, a 1 percent decrease over February 2011.

“We’re glad to see that home prices are holding strong,” SABOR President and CEO Angela Shields said. “Considering the latest reports on other cities, we’re proud that San Antonio continues to prove itself time and time again as a city that’s making strides.”

Shields cites the recent residential price index by FNC Inc. which notes that U.S. home prices fell 0.7 to 1.1 percent in December in the top ten housing markets. Yet at the end of 2011, only homeowners in Houston and San Antonio had seen their property values rise above 2007 peak levels. San Antonio home prices continue to stay strong; the recently reported average price for February 2012 grew 3 percent over a year ago.

Job growth, affordability and low interest rates are all key indicators to the strength of the San Antonio housing market, Shields said. According to a report from the Bureau of Labor Statistics, San Antonio ranked in the top 10 metro cities with projected job growth through 2020. The 15

 

year fixedrate mortgage reached a new alltime low last week, while the 30year mortgage edged to matching its record low, according to Freddie Mac’s weekly mortgage market survey.

“When coupled with its supportive economic climate, San Antonio is a great place to work, live, and do business,” said Liza Reyes, 2012 SABOR Chairman of the Board.

The San Antonio Board of REALTORS

Key Statistics

 

– Average price for singlefamily homes in February 2012, 3 percent higher than a year ago.  $183,955

– Median price for singlefamily homes in February 2012. $147,100

– Total number of singlefamily residential home sales in February 2012, 12 percent higher than a year ago. 1,243

– The number of pending home sales in February 2012. 1,456

If you are considering buying or selling a home in the San Antonio area, contact your local real estate resource, Trudy Edwards of KELLER WILLIAMS Realty Heritage at (210) 595-9801 or truesarealestate@gmail.com for a complimentary consultation.

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