Author Archives: Trudy Edwards

San Antonio Area Home Prices Rise as Summer Nears

SABOR-mkt-stats-graphic-0417Increased demand for homes and low inventory in the San Antonio area gave home prices a boost in April. The average sales price of a San Antonio area home in April 2017 was $252,854 and the median sales price was $215,500, both increases of eight percent over last year’s figures, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS.

Meanwhile, total home sales took a two percent dip and months of inventory inched up to 3.6 months from March’s 3.5 months. “Though home sales experienced a small decrease, we saw 3,783 new listings come on the market last month with 8,845 listings active, the highest all year,” said Yvette Allen, SABOR’s 2017 Chairman of the Board. “This means sellers are taking the opportunity to get their homes on the market as the summer buying season gets closer and gives us a little more inventory to accommodate all the buyers looking for homes.”

In April homes spent just 59 days on the market, consistent with March’s duration and a day less than this time last year. The price per square foot increased $115 which is a seven percent over the average of April last year. The month ended with 2,538 sales still pending.

Half the homes sold in April 2017 were priced between $200,000 and $500,000 while 44 percent were priced under $200,000. Homes priced over $500,000 made up the remaining six percent of sales in April, with 18 of those homes priced over $1 million.

Bexar County reported a total of 1,825 single-family homes sold in April, a 2.5 percent year-over-year decrease. The average price of a home sold in the county was $244,055, a 7.8 percent increase from 2016 while the median was $205,000, a 6.8 percent increase.

In Texas total home sales in April decreased 0.2 percent for a total of 25,990 homes sold. The average price of a home sold in the state was $276,535 and the median was $225,000, both increases from last year.

“Prospective buyers looking to move this summer should prepare by seeking preapproval from a lender, knowing their budget and getting with a REALTOR® to discuss their housing priorities,” said Angela Shields, SABOR’s President and CEO. “They also need to be ready to make a decision quickly.”

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.

San Antonio Home Sales Recap Apr-15 Apr-16 Apr-17
Total Month Sales  2,392 (13% increase)  2,481 (4% increase) 2,427 (2% decrease)
Average Price 2,427 (2% decrease) $234,575 (4% increase) $252,854 (8% increase)
Median Price  $189,900 (7% increase) $199,400 (5% increase) $215,500 (8% increase)

Modest Increase in San Antonio Home Sales February 2017

0217-SABOR-mkt-stats-graphicSan Antonio area home sales picked up in February 2017 with 1,954 sales, a three percent increase over February 2016 according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS.

Both the average and median sales prices of single-family homes remained steady with the average climbing just three percent to $234,040 and the median increasing six percent to $201,500. Meanwhile, February’s housing inventory was just 3.3 months, remaining below the four month mark now for 18 months straight.

“Though prices here have grown, the increases are steady and sustainable unlike many other large cities in the country,” said Michele Bunting Ross, SABOR’s 2017 Chairman of the Board.

In February, nearly 3,000 new homes were listed and the month ended with 2,059 sales still pending. Homes spent an average of 63 days on the market, which is an 11 percent drop from February last year. The price per square foot of a home grew four percent to $110 and 97.6 percent of homes sold for list price.

The majority of homes sold in the San Antonio area continue to be priced under $200,000 with those sales making up 49.5 percent of the month’s market. Homes priced between $200,000 and $500,000 accounted for 46.1 percent of February’s sales and homes priced over $500,000 made up 4.5 percent of the sales. Of the homes sold over $500,000, nine were priced at $1 million or above.

In Bexar County last month, a total of 1,441 single-family homes were sold for an average price of $220,377. Of the homes sold in the county, 1,262 were existing homes while 179 were new construction properties.

Meanwhile, for the whole state of Texas, total home sales remained consistent with the previous year’s figure, reporting 19,313 sales in February. However, the average price in the state increased 11.1 percent to $269,854 while the median rose 10.3 percent to $215,000.

For San Antonio area home buyers and sellers, SABOR’s President and CEO, Angela Shields offered this advice, “The key is to work with a Realtor. For sellers, they need to make sure they are pricing and marketing their home right to get it sold, and for buyers the expertise of an objective professional can help them navigate one of the largest purchases they’ll ever make. Especially in such a tight market, you’ll want someone who knows the ropes to help you through the process.”

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.

 SA Sales Recap Feb-15 Feb-16 Feb-17
Total Month Sales  1,717 (14% increase) 1,890 (10% increase)  1,954 (3% increase)
Average Price $220,202 (8% increase)  $227,812 (4% increase)  $234,040 (3% increase)
Median Price  $187,800 (9% increase) $190,800 (1% increase)  $201,500 (6% increase)
*Percentage increases are based on a year-over-year comparison.

5 Reasons Why Owning Beats Renting

Owning a home is a smart, long term investment that helps to provide wealth and security for you and your family. When you compare owning your own home to paying rent to a landlord, you can see that home ownership has many benefits.

  1. Personal Freedom – As a renter, you don’t have a lot of control over your environment. If you want to paint the walls or hang up your favorite pictures, be prepared to make sure it all is returned to the way it was before you moved in. When you own your own home, you can make improvements to your home and customize your home to your preference.
  2. Income Tax Reduction – The interest that you pay on your home loan is a tax deductible expense. The property taxes that you pay on your home are also deductible from your taxable income. These two tax deductions can lower your tax bill. Contact your tax advisor for more information about these deductions and your situation.
  3. Wealth Accumulation –When you own your own home, your monthly mortgage payments gradually pay down the balance of your home loan. As your balance goes down, you build equity in your home. Equity is the difference between your mortgage balance and the market value of your home.
  4. Borrowing Power – Once you have built up a certain amount home equity, you may be able to borrow against it. A home equity loan of credit can be used for home improvements, paying for college, a new car, or almost any other need.
  5. Stability for You & Your Family – When you’re renting you can face yearly increases in your rent. You may also find yourself moving from apartment to apartment in the search for less noisy neighbors or a landlord that responds to your repair requests more quickly. This constant moving can be upsetting to you and your family. When you own a home you can put down roots, get to know your neighbors, participate in your community and provide security and stability for your family.

If you are ready to move from being a renter to a home owner, contact a knowledgeable real estate consultant to guide you through the process.

If you are looking to buy a home in the San Antonio area,  Trudy Edwards of Keller Williams Realty Heritage has the professional resources, technology and experience to help you find and purchase your new home. Contact Trudy Edwards at (210) 595-9801 or by email at truesarealestate@gmail.com or start your home search online today at http://www.TrueSARealEstate.com

San Antonio Home Sales Finish Strong in August

8-16-sabor

After a slight decline in the volume of home sales in July, San Antonio area home sales bounced back strong in August and ended with a 13 percent increase in sales over the same time last year, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR). Inventory remained below four months for the twelfth consecutive month, causing prices to continue their moderate increases.

The average price of a home in August rose four percent to $246,515 while median edged up seven percent to $211,800. The median has stayed over $200,000 since May.

In August, 46 percent of the homes sold in the San Antonio area were priced under $200,000 while homes priced between $200,000 and $500,000 accounted for 49 percent of the market. Homes priced over $500,000 made up five percent of the sales last month, up 0.5 percent from July.

The San Antonio area also continues to prove its affordability when compared to other markets around Texas. In Bexar County, the median price of a home sold in August was $194,000 while the median sales price in Harris County was $206,000 and the median in Dallas County was $210,000. Meanwhile, nearby in Travis County homes sold for a median price of $332,500.

“Though our prices may increase year-over-year, we still remain well below many of the other metro areas in the state,” said Angela Shields, SABOR’s President and CEO. “We also have so much diversity in our inventory with homes at all different price points. This makes it a prime area for both buyers looking for their new home and sellers wishing to put their house on the market.”

If you would like to learn more about buying or selling a home in the San Antonio real estate market it pays to work with a REALTOR® who knows and understands the area and market. If you are thinking of buying or selling a home in the San Antonio metropolitan area, and would like 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.

aug-mkt-stats-graphic-0816

San Antonio Home Sales Recap Aug-14 Aug-15 Aug-16
Month Total # of Sales 2,427 (2% increase)  2,561 (5% increase)  2,900 (13% increase)
Average Price $222,385 (6% increase) $236,259 (7% increase) $246,515 (4% increase)
Median Price  $182,900 (5% increase) $198,300 (8% increase) $211,800 (7% increase)

San Antonio Housing Market Continues Steady Growth in July 2016

Home prices in the San Antonio and surrounding areas continued their steady growth in July with both the average and median sales prices reporting moderate increases, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. The average price increased three percent from July 2015 to $246,032 and the median rose six percent to $211,900.

“The San Antonio area continues to be one of the most affordable markets in Texas,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board. “For example, the median sales price of a home in Bexar County in July was $200,000 while the median was $335,000 in nearby Travis County and $219,250 in Harris County.”

About half the homes sold in July were priced between $200,000 and $500,000 while homes priced under $200,000 made up 45.3 percent of the market. Homes priced over $500,000 made up just 4.53 percent of the market, including 15 homes sold priced over $1 million.

July reported just 3.9 months of inventory, consistent with previous months. In fact, months of inventory in the San Antonio and surrounding areas has remained at or below four months for nearly two years and was last at six months of inventory in November 2012. Months of inventory is an indicator of where the balance of the market lies. “Typically, inventory below six months favors sellers while inventory between six to eight months is considered balanced. We’ve been experiencing a seller’s market for nearly four years in the San Antonio area,” explains Angela Shields, SABOR’s President and CEO. “With such a tight market, it’s important those looking to buy a home work closely with a REALTOR® to make sure they stay informed of the latest listings and find a home that suits their needs.”

In Texas, a total of 28,546 homes were sold last month, a 7.5 percent decrease from the amount sold in July 2015. The average price of a home sold in Texas increased 2.7 percent to $268,418 and the median rose 6.8 percent to $219,000.

If you are thinking of buying or selling a home in the San Antonio metropolitan area, and would like 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.

SABOR Multiple Listing Service Report: July 2016
 Home Sales Recap Jul-14 Jul-15 Jul-16
Total Month Sales  2,482 (3% increase)  2,908 (17% increase) 2,850 (2% decrease)
Average Price $228,957 (5% increase) $239,222 (5% increase)  $246,032 (3% increase)
Median Price $187,000 (6% increase) $199,800 (7% increase) $211,900 (6% increase)
*Percentage increases are based on a year-over-year comparison.

July 16 mkt-stats-graphic SABOR-0716

San Antonio Area Home Sales Increase in First Quarter 2016

The San Antonio area housing market continues to pick up steam with 5,911 homes sold in the first quarter of 2016. This is a 10 percent year-over-year increase in the number of sales according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS.mkt-stats-graphic-0316sm

The average sales price for the quarter rose three percent to $227,971 while the median sales price increased four percent to $192,900. In just the month of March, sales increased 14 percent for 2,523 homes sold.

“As we head into the spring, it is common for sales to increase. The weather is warmer and people want to beat the summer buying frenzy,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board. “We ended the month with 2,439 sales still pending, more than we had at our peak last year. This increased activity sets us up for a busy spring and summer.”

Since January, home sales across the state increased as well with sales jumping 8.1 percent for a total of 60,778 homes sold with an average sales price of $246,427, a 2.7 percent increase. In Bexar County, sales rose 13.2 percent for 4,596 total sales this quarter. The average price of a home sold in the county was $217,798, a 3.9 percent year-over-year increase.

In the San Antonio and surrounding areas, just over half the homes sold since January were priced under $200,000 with this segment making up 53.56 percent of sales. Homes priced between $200,000 and $500,000 made up 42.12 percent of the homes sold and homes priced over $500,000 accounted for 4.31 percent of the sales this year.

“Our prices continue to be affordable, particularly when compared to other large cities in the state and nation,” said Angela Shields, SABOR’s President and CEO. “We are fortunate to be in an area that offers all the amenities of a big city but with housing available at a broad range of prices. There is something for everyone here.”

If you’d like help finding the home that is right for you or if you need to sell your home before making a move, it pays to work with a REALTOR who knows the San Antonio area market. Contact Trudy Edwards, of Keller Williams Realty, at (210) 595-9801 or TrueSARealEstate@gmail.com to help make your next move.

San Antonio Reports Steady Home Sales Growth Feb. 2016

San Antonio Area Housing Market Reports Steady Growth in February 2016

San Antonio and surrounding areas continued to experience considerable growth in the housing market with February 2016 reporting a 10 percent year-over-year increase in total sales compared to February 2015.

According to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS, a total of 1,889 homes were sold in the area during February 2016. Prices maintained a steady rate of increase as the average sales price reached $228,992, a four percent (4%) increase and median price inched up just one percent (1%) to $190,400.

“Our price increases remain pretty even which is a good sign of our market’s stability,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board. “While months of inventory remains low at 3.6 months, there are still enough homes available to keep prices from driving up like they do in other parts of the country, consistently making this an affordable area to live in.”

In Texas, a total of 19,013 homes were sold in February, a 9.9 percent increase. Average sales price rose slightly by 2.1 percent to $243,418 while the median edged up 4.3 percent to $195,000.

Meanwhile, Bexar County experienced a 10.6 percent increase in total sales for 1,431 homes sold. The average price of a home sold in the county increased 4.5 percent to $218,736 and the median price had a slight decline of 0.7 percent to $180,000.

In the San Antonio area, the majority of homes sold were priced under $200,000 with those sales making up 54.47 percent of the homes sold in February. Homes priced between $200,000 and $500,000 accounted for 40.92 percent of the month’s sales and 4.55 percent of the homes sold were priced over $500,000. Homes in the San Antonio area spent an average of 71 days on the market, four days fewer than in February of 2015. The average price per square foot was $106 and the month ended with 2,184 sales still pending.

“We had 3,087 new listings in February alone which is over three hundred more than this time last year,” said Angela Shields, SABOR’s President and CEO. “We continue to see a steady stream of people entering the housing market and taking advantage of the low rates and available inventory. For anyone who has been on the fence about buying and selling, this is a great time to get started.”

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.

 

San Antonio Area Home Sales Break Record in 2015

2015-SA-mkt-stats-graphic-smSan 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.

 

Nov. 3rd Elections – Texas Voters to Decide on 7 Propositions

Texas voters will decide today whether to accept or reject seven proposed Constitutional Amendments submitted by the 84th Legislature of the State of Texas.

Here is some additional information about the 7 proposed Constitutional Amendments on the ballot:

Proposition 1 — would increase the homestead exemption from $15,000 to $25,000 and permanently ban real estate transfer taxes from being imposed in Texas. Proposition 1 will save homeowners money on their property taxes on their homestead property and will make home ownership more affordable for Texas seniors, people with disabilities and low income families. 

Proposition 2 —  would authorize a homestead exemption from ad valorem taxation for the spouses of 100% disabled veterans who died before 2010

Proposition 3 — would repeal the requirement that elected statewide officeholders live in Austin.

Proposition 4 — A constitutional amendment authorizing the legislature to permit professional sports team charitable foundations to conduct charitable raffles.

Proposition 5 — A constitutional amendment that would authorize counties with a population of 7,500 or less to do private roadwork and maintenance.

Proposition 6 — The constitutional amendment recognizing the right of the people to hunt, fish, and harvest wildlife subject to laws that promote wildlife conservation.

Proposition 7 — This constitutional amendment would dedicate certain sales and use tax revenue and motor vehicle sales, use, and rental tax revenue to the state highway fund to provide funding for non-tolled roads and the reduction of certain transportation related debt.

Find more information about polling locations and view a sample ballot at http://home.bexar.org/elections/

If you have questions about the elections contact Bexar County Elections Office at 335-VOTE

Voters are now required to present an approved Photo ID in order to vote in Texas. For more information about approved forms of ID and exceptions visit http://www.VoteTexas.Gov

Strong Summer Home Sales Continue Into September

Sept-15-stats-graphic-0915smHome sales were strong in San Antonio throughout the summer and that trend continued through August and into September. “Our summer buying season was one of the most active we’ve seen,” said Angela Shields, President and CEO of the San Antonio Board of REALTORs (SABOR). SABOR reports on all areas contained within its Multiple Listing Service (MLS) area in its monthly reports.

In August 2015 SABOR reported a five percent increase in sales volume for a total of 2,551 homes sold in the San Antonio area. The report also showed the average home sales price increased in August 2015 by seven percent to $237,168 while the median price rose eight percent to $197,100. In August homes spent an average of 50 days on the market and there was 4.0 months of inventory available.

In the month of September 2015, days on market in the San Antonio increased by 2 to 52 days, while months of inventory remained at 4.0 months. More than 97 percent of homes sold for list price in September and the month ended with 1,979 sales still pending.

Homes priced under $200,000 accounted for 53 percent of the sales in September in the San Antonio and surrounding areas. Homes priced between $200,000 and $500,000 made up nearly 42 percent of sales and homes priced over $500,000 accounted for nearly five percent of the month’s sales, with 13 of those priced over $1 million. Of the 1,086 homes sold in just the city limits of San Antonio during the month, 1,022 were existing homes while 64 were new construction.

In September 2015 the average price of homes sold in the San Antonio area was $233,218, a six percent increase over 2014. Existing homes in the San Antonio area sold for an average of $198,331, a 9.6 percent year-over-year increase. For new construction homes, the average sales price in September was $293,358, a 25.7 percent increase over 2014.

Year to date data showed that in the San Antonio area there were 11 percent more home sales during the first three quarters than this time last year according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. For the first nine months of 2015 the average sales price was $232,931, a seven percent year-over-year increase while median went up by eight percent to $194,100. Average days on market for the year to date remains low at 59 days while the price per square foot climbed six percent to $105.

Texas as a whole also experienced several increases in sales and prices. For the state of Texas, a total of 25,975 homes were sold during September, an 8.6 percent increase from 2014. Median price for the state rose six percent to $196,000 while average price reported a 3.4 percent year-over-year increase to $248,329.

San Antonio Home Sales Sept. 2013 Sept. 2014 Sept. 2015
Total Month Sales 2,005 (20% increase)  2,245 (14% increase) 2,413 (7% increase)
Average Price $205,359 (7% increase) $220,583 (7% increase) $233,218 (6% increase)
Median Price $168,800 (7% increase) $185,000 (9% increase) $191,700 (4% 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 area it pays to work with a REALTOR who knows the local market. For more information about buying or selling a home in San Antonio, contact your San Antonio area real estate resource, Trudy Edwards at (210) 595-9801 or TrueSARealEstate@gmail.com.