Monthly Archives: January 2016
San Antonio area home values increased by an average of six percent in 2015. The San Antonio Board of REALTORS® (SABOR) recently released its final analysis of Multiple Listing Service reports for San Antonio area home sales for 2015. SABOR reports on all areas contained within the SABOR MLS system, including Alamo Heights, Boerne, Converse, Fair Oaks Ranch, Garden Ridge, Hollywood Park, Leon Valley, Terrell Hills and many other municipalities in the San Antonio Metropolitan area.
Market activity was strong throughout 2015 and the year ended with a record high in the total number of homes sold in the San Antonio area with 27,154 homes sold. Prior to this, the year with the most recorded sales was 2006 in which 26,169 homes were sold.
The average sales price of a San Antonio area home in 2015 was $231,976 and the median sales price was $192,800, a six and seven percent increase respectively. In 2015 the average number of days that homes stayed on the market decreased to just 60 days, which is a twelve percent decrease when compared to the 2014 average days on market.
The average price per square foot of a San Antonio area home increased five percent over 2014 numbers to an average cost of $106 per square foot.
Homes priced under $200,000 made up 52.9 percent of the homes sold in 2015 while those priced between $200,000 and $500,000 accounted for 42.26 percent of sales. Homes priced over $500,000 made up 4.77 percent of the homes sold.
In just the city of San Antonio, a total of 12,231 single family homes were sold in 2015. This is a seven percent increase over the previous year’s sales. Of these sales, 11,569 were existing homes while 661 were new construction. The median sales price of an existing home was $165,000, a 6.5 percent year-over-year increase and the median sales price of a new construction home increased two percent year-over-year to $197,748.
“We continue to see more and more people getting into the housing market, whether they are buying or selling, and with homes at affordable prices all around the city and surrounding areas, there really is something for everyone in this market,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board. “In fact, while the majority of homes sold are still below $200,000, we have seen a gradual shift in more homes being sold in the range between $200,000 and $500,000.”
“Not only was this a record-breaking year in our real estate market in terms of sales, but December ended with 1,401 sales still pending as we headed into the New Year,” said Angela Shields, SABOR’s President and CEO.
Across Texas, total home sales also experienced year-over-year increases with 4.4 percent more homes sold in 2015 than in 2014. The average price of a home sold in the state in 2015 was $253,208, a 5.3 percent increase and the median price was $198,000, a 7.3 percent increase.
If you are thinking of buying or selling a home in the San Ant0nio area and would like to receive a no obligation consultation with an experienced REALTOR® to discuss the real estate market in more detail, contact Trudy Edwards of KELLER WILLIAMS Realty Heritage at (210) 595-9801 or TrueSARealEstate@gmail.com.