San Antonio Housing Inventory Remains Low, Days on Market Drop
San Antonio’s tight housing inventory kept home prices up in October 2014, while days on market fell by 11 percent. The average price of a home sold in October saw a year-over-year increase of three percent to $210,887 while the median price rose four percent to $176,200. The month ended with 2,164 total sales and 1,755 sales still pending according to the October 2014 Multiple Listing Service report of home sales data from the San Antonio Board of REALTORs.
SABOR’s 2014 Chairman of the Board, Missy Stagers reported that “Our months of inventory are down to just 4.1 and homes in October only spent an average of 62 days on the market. This is certainly good news for sellers because it means the time it takes to sell a house has dropped considerably while prices continue to beat those seen in previous years.”
According to research from the National Association of REALTORS®, across the country homes that sold for one million dollars or more rose by eight percent this year, while homes at every other price point dropped by four percent. In San Antonio, 91 homes have sold over one million dollars since January, compared to 83 last year. In fact, the luxury home market has increased in 2014 with homes priced over $500,000 accounting for approximately 4.3 percent of sales this year (compared to 4.0 percent during the same period in 2013).
However, the largest growth has been seen in the homes priced in the mid-range. In October, the largest percentage of sales occurred between $200,000 and $250,000 with those making up 14.5 percent of sales. The second most popular range was homes priced between $300,000 and $400,000 which accounted for 10.4 percent of sales.
“Despite heading into the winter months which traditionally can be a little slower, we continue to see record numbers of sales and prices this season,” said Angela Shields, SABOR’s President and CEO. “We never really see San Antonio slow down. With our military families moving in and out of the city year round as well as a steady growth in jobs, there are always houses on the market and buyers eager to find their new home.”
|Home Sales Recap||Oct-12||Oct-13||Oct-14|
|Total Month Sales||1554||1863||2164|
If you are looking to buy or sell a home in the San Antonio, Texas area, contact Trudy Edwards with KELLER WILLIAMS Realty Heritage to schedule a complimentary consultation.
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Posted on December 15, 2014, in average home price, home sales and tagged average home price, Days on Market, home sales, median home price, median sales price, SABOR, San Antonio Real Estate, statistics. Bookmark the permalink. Leave a comment.