San Antonio Housing Market Continues to Outpace Previous Years

Growing prices paired with low supply have not deterred San Antonio area home buyers who continue to flood the market seeking their dream homes, pushing up the total home sales for the first six months of 2017 to 14,845, a four percent year-over-year increase according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. To date this year, the average and median sales prices have also both increased, by a moderate five percent to $248,923 and $211,700, respectively.

“Our local market consistently outperforms last year’s, putting the San Antonio area on track for another record-breaking year,” said Yvette Allen, SABOR’s 2017 Chairman of the Board. “Though prices have increased, they are still generally lower than those in other major Texas metros. This affordability combined with so many jobs relocating here as well as our booming tech, medical and military industries help San Antonio maintain its popularity among buyers.”

In June, homes priced below $200,000 made up 41.4 percent of homes sold while homes priced between $200,000 and $500,000 accounted for 52.9 percent of the month’s sales. Homes priced over $500,000 made up 5.8 percent of the market.

The median and average prices experienced five percent year-over-year growth during the June, with the median home price rising to $222,000 and the average price increasing to $257,753. Months of inventory remained low with just 3.8 months available. The month ended with 2,512 sales still pending, a two percent increase from June 2016. Price per square foot rose four percent year-over-year to $115 and 97.9 percent of homes sold for the list price.

“This continues to be a hot market, and homes can sell quickly. For buyers interested in purchasing a home this summer, they can prepare by identifying their must-haves in a home, getting pre-approved and working closely with their REALTOR®,” said Angela Shields, SABOR’s President and CEO.

SA Home Sales Recap	June 2015	June 2016	June 2017
Total Month Sales	2,897 (18% increase)	3,053 (5% increase)	3,177 (4% increase)
Average Price	$242,011 (5% increase)	$246,044 (2% increase)	$257,753 (5% increase)
Median Price	$201,100 (6% increase)	$212,000 (6% increase)	$222,000 (5% increase)

Year-to-Date	January-June 2015	January-June 2016	January-June 2017
Total Month Sales	13,212 (12% increase)	14,268 (7% increase)	14,845 (4% increase)
Average Price	$230,951 (7% increase)	$236,234 (2% increase)	$248,923 (5% increase)
Median Price	$192,600 (8% increase)	$$200,900 (4% increase)	$211,700 (5% increase)
*Percentage increases are based on a year-over-year comparison.

If you are thinking of buying or selling a home in the San Antonio metropolitan area, and want to work with a trusted San Antonio REALTOR® throughout the process, contact Trudy Edwards of KELLER WILLIAMS Realty Heritage, at (210) 595-9801, or by email at TrueSARealEstate@gmail.com.