Category Archives: housing
The San Antonio Board of REALTORS recently released the sales statistics for December 2014 along with the total 2014 sales numbers. The report showed that a total of 24,735 homes were sold since January 2014 which is a five percent (5%) increase from the same period in 2013. The Average Sales Price for the year rose five percent (5%) to $218,762 and the Median Sales Price climbed by six percent (6%) to $180,600.
The month of December itself also saw increases across the board with a whopping 16 percent (16%) increase in sales from the previous December for a total of 2,083 sales.
At the end of November, 2014, the San Antonio real estate market had only 3.9 months of inventory. By the end of December 2014 that had decreased even further to only 3.5 months of inventory. With a shortage of inventory, homes are selling faster, as shown by the Days on Market Average that at the end of December 2014 was only 70 days.
Mary Ann Jeffers, SABOR’s 2015 Chairman of the Board remarks that “The tight inventory makes this a sellers’ market while low interest rates allow buyers to make their money go further. It’s a good time to buy or sell on both fronts.”
At the recent SABOR San Antonio Housing Forecast, Mario Hernandez of the San Antonio Economic Development Foundation gave updates on the status of employment and companies moving to San Antonio. At the end of 2014 the unemployment rate in San Antonio was down to only 4.3% compared to 6% in 2013 as job growth increased 2.62% in 2014. Hernandez also highlighted some of the factors that attract companies to invest in San Antonio –
- affordable land and energy
- a skilled workforce of over 1 million
- 15 schools and colleges with over 150,000 enrolled
- Cost of living 9.2 points below US average
Hernandez also highlighted that San Antonio has been hailed by the national media in 2014 as—
- “Best City For Business” by Forbes Magazine
- “#4 Boomtown in US” by Bloomberg
- “#3 New Tech Hotspot” by Forbes Magazine
All of these factors indicate that it is a great time to buy or sell a home in San Antonio.
|Sales Recap||December 2012||December 2013||December 2014|
|Total Month Sales||1,548 (9% increase)||1,800 (14% increase)||2,083 (16% increase)|
|Average Price||$193,374 (4% increase)||$212,827 (10% increase)||$224,193 (5% increase)|
|Median Price||$160,400 (5% increase)||$173,100 (7% increase)||$184,100 (6% increase)|
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 firstname.lastname@example.org.
With interest rates at historic lows and the summer months just around the corner, the San Antonio residential housing market is continuing to flourish with steady increases in sales prices and the number of homes sold each month.
The San Antonio Board of REALTORs® latest Multiple Listing Service report revealed that in March 2013 the average sales price of a single family residential home was $194,271, up five percent from last year. The median sales price remained at $158,900, the same as March 2012.
Days on market fell to just 90 days on the market in March, down from 99 days on the market in February. There were 1,826 home sales closed in March and 1,935 sales still pending at the end of March.
“Low rates continue to make this a prime time to buy and sell real estate. We saw how the low rates caused the housing market to prosper in 2012, and we are continuing to see that trend as 2013 fares even better,” said Steven Gragg, 2013 SABOR Chairman of the Board.
The average rate for a 30-year fixed loan recently fell to below 3.5 percent according to Freddie Mac’s latest Primary Mortgage Market Survey®. The average rate on the 15-year fixed mortgage dipped below 2.7 percent.
Housing inventory is at 5.3 months, compared to 6.6 months at this time last year. With a quick turnaround in sales, the market is skewing in favor of sellers with 96.9 percent of homes being sold for list price.
Homes sold in the price range under $200,000 accounted for 66.8 percent of total homes sold and those between $200,000 and $500,000 accounted for 29.2 percent. Homes priced at $500,000 and more made up 3.9 percent of the total sales for March.
“San Antonio was recently ranked by Forbes as one of the top 25 cities in the country to retire, citing the city’s low cost of living and stable economy. While other cities in the country experience peaks and downturns, San Antonio remains steady and consistent which makes it the perfect place to call home,” said Angela Shields, SABOR President and CEO.
|San Antonio Home Sales Recap|
|March 2011||March 2012||March 2013|
|Total Month Sales||1,556||1,654||1,826|
The San Antonio Board of REALTORS® (SABOR) recently released its report on May housing sales in San Antonio which showed that the number of sales of single-family homes increased 4% compared to May 2011. Key housing indicators all improved in May 2012 compared to May 2011.
The average price for a single family home in San Antonio also increased by 4% to $197,451, while the median home price increased 5% to $161,400, compared to May 2011. Both average and median prices have improved month over month this year, marking a favorable housing trend for the year.
“We’re glad to see that home sales continue to increase,” said Liza Reyes, 2012 SABOR Chairman of the Board. For five consecutive months, San Antonio has had less than 7 months supply of home inventory, signaling a very balanced market in terms of supply and demand which favors both buyers and sellers.SABOR President and CEO Angela Shields said “we credit the strength of the housing market to San Antonio’s continued job growth, affordability and low interest rates
Lawrence Yun, National Association of REALTORS® chief economist, said the national housing recovery is underway. “It is no longer just the investors who are taking advantage of high affordability conditions. A return of normal home buying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices,” he said. “The general downtrend in both listed and shadow inventory has shifted from a buyers’ market to one that is much more balanced, but in some areas it has become a seller’s market.”
May 2012 SABOR Statistics
- $197,451– Average price for single-family homes in May 2012, 4% higher than a year ago.
- $161,400 – Median price for single-family homes in May 2012, 5% higher than a year ago.
- 1,889– Total number of single-family residential home sales in May 2012, 4% higher than a year ago.
- 1,778 – The number of pending home sales in May 2012.
For more information about buying or selling a home in the San Antonio area, contact San Antonio real estate resource, Trudy Edwards of KELLER WILLIAMS Realty Heritage at (210) 595-9801 or email@example.com for a complimentary consultation.
2010 Homebuyer Tax Credit Maintains Effect on 2011 Year-to-Date Sales Comparisons – June 2011 Real Estate Numbers May Bridge the Gap on Skewed Market Analysis
The San Antonio Board of REALTORS(R) July 2011 report on year-to-date sales comparisons revealed that the month-to-month comparison of sales from June 2010 (1,904) and June 2011 (1,869) highlighted a slight 2% decrease compared to this time last year.
However, San Antonio Board of REALTORS(R) CEO Angela Shields believes that the smaller figure could signal that sales figures may stabilize in the future. “We’ll be watching as the gap closes on month-to-month sales figures. Those figures could indicate that our market is evening out. When you understand the factors at play, you’ll see that the San Antonio market is still is good shape,” Shields said.
The Alamo City continued its steady up-tick in home prices in the first half of 2011, with both the average home price ($184,930) and median home price ($151,000) seeing 4% increases over the first six months of 2010. “The home buyer tax credit had a positive impact on home prices, with many homeowners moving up into higher priced homes,” said Scott Caballero, 2011 Chairman of the Board.
“San Antonio home buyers can invest in a home affordably and reap the benefits down the road. June 2011 was no different,” Caballero said of the monthly figures, which saw a 2% increase in the average price ($193,530) and a 1% increase in the median price ($155,700) over June 2010.
Market watchers have been abuzz with news about the state and local economies. Bloomberg Business recently heralded San Antonio as one of the country’s strongest economic metropolitan areas, noting that it has regained most of the jobs lost during the recession. According to the Bureau of Economic Analysis, Texas is second only to California for having the highest economic output in the last 10 years. “Experts say that San Antonio has recovered to its pre-recession levels on many fronts. There’s a lot to feel good about in the real estate market specifically, like the low interest rates as well as continued price appreciation and affordability,” Caballero said.
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If you are having difficulty making your mortgage payments or are at risk of falling behind in your mortgage payments you, there may be help for you to enable you manage your payments and stay in your home. To explore your options you should first visit the government website www.makinghomeaffordable.gov to find out if you can take advantage of the “Making Home Affordable” program. You may be eligible for special refinancing or loan modification if your mortgage company is participating in this program. You can find out if your loan is eligible for refinancing or modification by going to http://www.makinghomeaffordable.gov or by contacting Fannie Mae, at 1-800-7FANNIE (8am to 8pm EST) www.fanniemae.com/loanlookup or Freddie Mac 1-800-FREDDIE (8am to 8pm EST) www.freddiemac.com/mymortgage
You don’t have to be behind on your mortgage to seek help with this program. If you have a loan that is an adjustable rate mortgage, a balloon note or a high interest rate you may be able to refinance at a better interest rate. Or if you are experiencing a financial hardship due to a loss of income since you obtained your loan, you may be eligible for a home affordable loan modification. If you qualify for the loan modification option, participating lenders may even be able to reduce your first lien mortgage payments to no more than 31% of your gross income, by either reducing your interest rate, increasing the term of the loan or by a forbearance. Go to www.makinghomeaffordable.gov today to see if you may be eligible for loan modification or contact your lender and ask if they are participating in “the Home Affordable Modification Plan” or HMP.
Visit www.knowyouroptions.com to explore your options
If you are a homeowner and are already 90 days behind on your your mortgage payments you may be able to get help through the Emergency Homeowners’ Loan Program. This program is only available for a limited time so you must act quickly. To learn more go to Emergency Homeowners' Loan Program or cal 1-888-995-HOPE today to learn more and speak to a housing counselor to discuss your options.