Number of Homes Sold Hits Five Year High in San Antonio

The number of homes sold in San Antonio in May 2013 hit a five year high of 2,480 homes sold as reported by the San Antonio Board of REALTORs® (SABOR). This number represents a 31 percent increase in sales when compared to May 2012’s volume of home sales. In addition, the year-to-date number of homes sold rose 19 percent when compared to this time last year.

Housing inventory continues to remain around at 5.1 months while the average amount of time that homes remain on the market has dropped 15 percent to a low of 78 days.

“The summer months are typically the busiest time of year in real estate, and the May numbers prove that consumer confidence is high and the market is continuing to thrive,” said Steven Gragg, 2013 SABOR Chairman of the Board. “Both buyers and sellers are reaping the benefits of an extremely healthy real estate climate in San Antonio.”

According to the National Association of REALTORS®, the housing market continues to look optimistic. Home prices are primed to rise in 2013 and 2014 due to lagging housing starts and an ongoing inventory shortage. Americans are also feeling confident in the housing recovery.

Number of sales is not the only gain seen in the San Antonio housing market. The average price of a home sold in May 2013 was $216,940, a 10 percent increase over May 2012. The median price of homes sold in May 2013 was $174,000, a seven percent increase compared to 2012.

“We saw 59.2 percent of homes sold priced under $200,000 which is typical. But we also had a jump in sales of homes over $500,000 with those transactions accounting for nearly five percent of the sales instead of their usual three to four percent,” said Angela Shields, SABOR President and CEO. “With our city’s continued job growth and interest rates still low, it’s no surprise we are seeing people able to make their money go further and take advantage of our affordable market.”

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

 

San Antonio Home Sales	May 2011	May 2012	May 2013
Total Month Sales	1,782	1,899	2,480
Average Price	$191,750	$198,091	$216,940