Category Archives: average home price

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.

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

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.

San Antonio Home Sales Surged in February 2015

San Antonio February 2915 Home Sales Statistics infographicReporting 1,724 San Antonio area homes sold in February 2015, a 14 percent year-over-year increase from 2014, the San Antonio Board of REALTORS® (SABOR) remarked in their February 2015 Multiple Listing Service report that this boom in home sales indicates a steady spring market on the horizon.

At the end of the month there were 1,881 sales still pending. This was a 21.5 percent increase from 2014 and a strong lead into March.

The San Antonio housing inventory remains low, at just 3.6 months. Days on market dipped down to 74 days while the average price per square foot edged up five percent to $101.

“We continue to see unprecedented growth in the San Antonio housing market in just about every area,” said Mary Ann Jeffers, SABOR’s 2015 Chairman of the Board. “Nationally, improved buyer demand at the beginning of 2015 pushed pending home sales in January up and buyers closed on homes at a swift pace despite tight inventory.”

According to the National Association of REALTORS®, total existing-homes sales in 2015 are forecast to be around 5.26 million, an increase of 6.4 percent from 2014. The national median existing-home price for all of this year is expected to have an increase near five percent.

Low interest rates as well as growth in jobs and income continue to play a role in San Antonio’s housing market boom. According to the recently released 2014 Profile of Texas Homebuyers and Sellers by the Texas Association of REALTORS®, the median household income among homebuyers in Texas increased 5.9 percent year-over-year. This is more than four times the increase in median household income among homebuyers nationally.

Locally, this increase in household income is likely a contributing factor to the shift towards more sales of homes priced in the mid-range ($200,000 – $500,000). Homes sold in this range grew seven percent from last year and made up 40.7 percent of February’s sales. Homes priced under $200,000 made up 55.6 percent of the market and homes priced over $500,000 accounted for 3.5 percent of the homes sold.

“An increase in income is a great asset for buyers who are looking to get pre-qualified for a mortgage and calculating their ability to afford the costs of homeownership,” said Angela Shields, SABOR’s President and CEO. “With people steadily moving into the city for jobs, including our military and medical personnel, there is always a market for both buyers and sellers at many different price points.”

 

San Antonio Home Sales Recap Feb. 2013 Feb. 2014 Feb. 2015
Total Month Sales 1,411 (8% increase)  1,509 (3% increase)  1,724 (14% increase)
Average Price $196,721 (5% increase) $203,355 (4% increase) $219,808 (8% increase)
Median Price $160,200 (4% increase)  $169,800 (5% increase)  $185,800

*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 learn more about the San Antonio real estate market, contact your San Antonio real estate resource, Trudy Edwards, for more information.

Trudy Edwards is a real estate sales and marketing professional and an Accredited Buyer Representative with Keller Williams Realty Heritage. Contact Trudy Edwards at (210) 595-9801 or truesarealestate@gmail.com.

 

San Antonio Housing Market Continues 2014 Trends in January 2015

San Antonio Home Sales Stats Jan. 2015

San Antonio – San Antonio’s January housing market continued the strong pace set in 2014 by kicking off with marked growth in prices and sales from previous years. According to the January 2015 Multiple Listing Service report by the San Antonio Board of REALTORS® (SABOR), a total of 1,428 homes were sold last month, a five percent increase from the same month in 2014. Meanwhile, both the average and median prices also showed significant increases, with each rising by nine percent from 2014.

According to the 2014-Q4 Texas Quarterly Housing Report recently released by the Texas Association of REALTORS®  66,664 single-family homes were sold in Texas in the fourth quarter of 2014, an 8.46 percent increase from the same quarter of 2013. Additionally the Real Estate Center at Texas A&M University that generated the report expects home sales in the first half of 2015 to continue the trend of 2014 with increases in home prices and low inventory.

“We saw year over year growth in our prices and sales figures throughout 2014, and with January getting off to a similar start, we expect 2015 to continue that trend,” said Mary Ann Jeffers, SABOR’s 2015 Chairman of the Board. “Our inventory remains low with just 3.6 months in January, and we ended the month with 1,615 sales still pending.”

In January, 59.2 percent of homes sold were priced under $200,000, nearly a seven percent decrease from January 2014. Meanwhile, homes priced between $200,000 and $500,000 made up 37.3 percent of sales, a six percent increase from 2013, and homes over $1 million accounted for 3.4 percent of sales, a half percent increase from last year.

“We have watched our mid-range and high-range markets increase over the last year, and 2015 looks to be no different so far. With our low cost of living, growing job market and continually low interest rates, homeowners are able to make their money go further,” said Angela Shields, SABOR’s President and CEO.

San Antonio Home Sales Recap January 2013 January 2014 January 2015
Total Month Sales  1,255 (24% increase)  1,363 (7% increase) 1,428 (5% increase)
Average Price $184,403 (4% increase) $194,312 (6% increase)  $212,222 (9% increase)
Median Price  $151,100 (3% increase)  $161,900 (7% increase)  $176,700 (9% 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 learn more about the San Antonio real estate market, contact your San Antonio real estate resource, Trudy Edwards, for more information. Trudy Edwards is a real estate sales and marketing professional and an Accredited Buyer Representative with Keller Williams Realty Heritage. Contact Trudy Edwards at (210) 595-9801 or truesarealestate@gmail.com.

San Antonio Housing Inventory Remains Low, Days on Market Drop

mkt-stats-graphic-1014sm

San Antonio Housing Market Statistics October 2014

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
Average Price $194,354 $205,484 $210,887
Median Price $158,800 $169,400 $176,200

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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San Antonio Average Home Price Hits All-Time High in May 2014

mkt-stats-graphic-0514smIn the San Antonio real estate market the average price of a home in May 2014 reached an all-time high with a sales price of $225,114, according to the May 2014 Multiple Listing Service report by the San Antonio Board of REALTORS® (SABOR). This is a four percent increase from May 2013. The average number of days San Antonio homes stayed on the market dropped to just  65 days, a 17 percent decrease from May of last year. In all a total of 2,355 homes were sold in San Antonio in May 2014.

“Home prices continue to remain strong,” said Missy Stagers, SABOR’s 2014 Chairman of the Board. “The price per square foot has also increased to its highest – $102 – and inventory remains low at 4.7 months.”

A recent report from CoreLogic ranked Texas as the number one state with the highest percentage of residential  properties with a mortgage holding equity. According to the report, 96.7 percent of Texas homes hold equity.

San Antonio’s median price of a home sold in May was $183,800, a four percent increase from May 2013 and higher than last year’s peak median price in June of $180,400. Year-to-date the average price of a home sold is $211,990 and the median is $174,600. A total of 9,179 homes have been sold since January.

“Our total sales year-to-date have remained considerably higher this year than in previous years,” said Angela Shields, SABOR’s President and CEO. “We credit the strength of the housing market to San Antonio’s  continued job growth, affordability and low interest rates.”

Sales Recap May 2013 May 2014
Total Month Sales 2499 2355
Average Price $216,337 $225,114
Median Price $162,201 $175,900

San Antonio Housing Inventory Hits a Six Year Low

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San Antonio Market Statistics, September 2013

According to the statistics for September 2013, the housing inventory in San Antonio hit a six year low in September with just 4.6 months of inventory. Homes listed for sale spent an average of only 70 days on the market and 97 percent of homes sold for the listed price. According to the September 2013 San Antonio Board of REALTORS® (SABOR) Multiple Listing Service Report,  a total of 2,031 homes were purchased during the month, which is a 20 percent increase over September 2012.

“We have seen our inventory getting smaller and smaller all year, making this more of a competitive market,” said Steven Gragg, 2013 SABOR Chairman of the Board. “Low inventory could result in sellers receiving multiple bids on homes located in prime locations or being able to sell closer to their asking price.”

The average price in San Antonio of a home sold in September 2013 was $205,728 and the median price was $168,700. Both median and average prices are seven percent increases from the same month in 2012. Year-to-date the average sales price also increased by seven percent to $207,103 and the median grew by six percent, to $169,900.

The price breakdowns showed a slight increase in September from previous months for homes sold in the low range (below $200,000), with those accounting for 62.24 percent. Homes priced in the mid-range (between $200,000 and $500,000) made up 33.97 percent of sales and homes costing over $500,000 accounted for 3.69 percent of homes sold.

According to the National Association of REALTORS®, the Texas housing market largely avoided the crisis other states experienced over the past few years, crediting Texas’ vibrant job market and growing population. Texas has also seen substantial declines in foreclosure notices filed. In fact, according to Realty Trac, between July and September, Texas experienced a decline of 44.6 percent in foreclosure filings, compared to 29 percent nationwide.

“Interest rates have been at historic lows for some time now allowing many people to take advantage of the opportunity. Although the rates have started to inch up, they still remain below five percent making home buying affordable for a wide range of people,” said Angela Shields, SABOR President and CEO.

San Antonio Home Sales Recap        
    Sep- 2011   Sep- 2012 Sep-2013
Total   Month Sales  1,576       1,686   2,031
Average   Price                      $189,723   $193,026   $205,728
Median   Price                       $154,600   $158,400   $168,700

If you are thinking of buying or selling a home in San Antonio and would like to learn more about the San Antonio real estate market, contact you San Antonio real estate resource, Trudy Edwards, for more information. Trudy Edwards is a real estate sales and marketing professional and an Accredited Buyer Representative with Keller Williams Realty Heritage. Contact Trudy Edwards at (210) 595-9801 or truesarealestate@gmail.com.

San Antonio Home Prices Reach Year High in June

San Antonio home pricSan Antonio Home Sales June 2013es reached a high in June 2013, according to the latest Multiple Listing Service report by the San Antonio Board of REALTORS® (SABOR). The average price of homes sold for the month was $221,168 and the median was $180,400, which are both six percent increases from June of last year. The total number of homes sold in June was 2,315 and the number of sales pending as the month closed was 1,920. 

“The summer buying and selling season is in full swing, and we see that in these numbers. Not only are prices continuing to rise, but the demand is still high with homes selling faster than ever. Right now we have 5.1 months of inventory with homes spending an average of 73 days on market – the lowest all year,” said Steven Gragg, 2013 SABOR Chairman of the Board.

According to a study by Realty Trac, foreclosures across the nation are at their lowest level for any month in 7.5 years and are down 29 percent from where they were a year ago. In Texas, foreclosure activity is down 42.3 percent for the year as of June.

“The steady drop in foreclosures signals a strengthening housing economy driven by steady job growth, low interest rates and rising home values,” said Angela Shields, SABOR President and CEO. “In fact, we are seeing a gradual shift among San Antonio buyers toward purchasing homes priced in the mid-range. In June 2013, 38.44 percent of buyers purchased homes priced between $200,000 and $500,000. At this time last year, that number was closer to 35 percent.”

The average price of a single family residential home year-to-date was $205,352 and the median price year-to-date was $167,300 a six percent and five percent increase compared to 2012, respectively.

Demand for rentals in the San Antonio market has also continued to rise. A total of 1,355 residential rental properties were rented in June, which marks a six percent increase compared to June 2012.

If its time for you to make a move and you are thinking of buying or selling a home in the San Antonio area, contact Trudy Edwards, of Legend Realty Group, KELLER WILLIAMS Realty to request information about sales activity in your San Antonio area neighborhood.

San Antonio Home Sales

June 2011

June 2012

June 2013

Total Month Sales

1,946  

2,063

2,315

Average Price

$192,514

$209,214

$221,168

Median Price

$156,500

$170,300

$180,400