Home Sales Remain Strong in San Antonio Summer

According to the June 2015 Multiple Listing Report by the San Antonio Board of REALTORS® (SABOR), home sales saw their biggest increase yet this year in June with 2,925 homes sold. This is an 18 percent increase from the same month in 2014 and the largest number of sales in a single month this year. While both the average and median sales prices dropped marginally from May, both saw increases from last year. June’s average sales price rose five percent to $242,588 and the median price edged up six percent to $200,900.

The average sales price has remained over $200,000 since February 2014 while the median has maintained that level since May 2015. “Our market has been favorable to sellers this year as prices keep growing and length of time to sell a home continues to shrink,” said Mary Ann Jeffers, SABOR’s 2015 Chairman of the Board. “In June, homes sold for 97.8 percent of list price and price per square foot shot up to $108, a four percent increase from last year. It’s a prime market for sellers.”

Many sellers are jumping into the market as low inventory often creates faster sales and higher home prices in many areas. According to Fannie Mae’s recent National Housing Survey, 52 percent of Americans surveyed believe now is a good time to sell, the first time this metric has risen above 50 percent. In June, 3,875 new listings came on the San Antonio market, nearly 18 percent more than this time last year, and the month ended with 2,381 sales still pending. Days on market in San Antonio continue to fall with June reporting just 52 days, a 21 percent drop from June 2014, and months of inventory remains steady at 4.0 months.

While the market is tight for buyers, they are still finding homes to meet their needs. In June, homes priced below $200,000 continued to make up the majority of sales in the San Antonio market with 49.74 percent of homes sold priced in this bracket. Homes selling over $500,000 continued to climb with June reporting 5.88 percent in this range. Of those, most were priced between $500,000 and $600,000 with a total of 12 homes sold over one million dollars. Homes priced between $200,000 and $500,000 accounted for 44.41 percent of the month’s sales. “As the number of new listings continues to surge, buyers still have options when it comes to finding their dream home,” said Angela Shields, SABOR’s President and CEO.

San Antonio Home Sales Recap	Jun-13	Jun-14	Jun-15
Month Total # of Sales	2,337 (12% increase)	2.483 (6% increase)	2,925 (18% increase)
Average Price	$219,489 (6% increase)	$231,919 (6% increase)	$242,588 (5% increase)
Median Price	$179,400 (6% increase)	$189,200 (5% increase)	$200,900 (6% increase)

*Percentage increases are based on a year-over-year comparison.

If you are thinking of buying or selling a home in San Antonio and would like to find out if now is a good time for you to buy or sell, contact your San Antonio real estate resource, Trudy Edwards of Keller Williams Realty Heritage at (210) 595-9801 or truesarealestate@gmail.com.