San Antonio Average Home Price Hits All-Time High in May 2014
In the San Antonio real estate market the average price of a home in May 2014 reached an all-time high with a sales price of $225,114, according to the May 2014 Multiple Listing Service report by the San Antonio Board of REALTORS® (SABOR). This is a four percent increase from May 2013. The average number of days San Antonio homes stayed on the market dropped to just 65 days, a 17 percent decrease from May of last year. In all a total of 2,355 homes were sold in San Antonio in May 2014.
“Home prices continue to remain strong,” said Missy Stagers, SABOR’s 2014 Chairman of the Board. “The price per square foot has also increased to its highest – $102 – and inventory remains low at 4.7 months.”
A recent report from CoreLogic ranked Texas as the number one state with the highest percentage of residential properties with a mortgage holding equity. According to the report, 96.7 percent of Texas homes hold equity.
San Antonio’s median price of a home sold in May was $183,800, a four percent increase from May 2013 and higher than last year’s peak median price in June of $180,400. Year-to-date the average price of a home sold is $211,990 and the median is $174,600. A total of 9,179 homes have been sold since January.
“Our total sales year-to-date have remained considerably higher this year than in previous years,” said Angela Shields, SABOR’s President and CEO. “We credit the strength of the housing market to San Antonio’s continued job growth, affordability and low interest rates.”
|Sales Recap||May 2013||May 2014|
|Total Month Sales||2499||2355|