San Antonio Home Sales Numbers Surged Again in February

Following an 11% increase in home sales in January, San Antonio home sales activity continued to strengthen in February

The number of single family homes sold in the San Antonio area in February was up 14%, compared to February 2023 with 2,697 homes sold, as reported by the San Antonio Board of REALTORS (SABOR) Multiple Listing Service Report.  

San Antonio Real Estate Update with February 2024 Home Sales

Average and Median Home Prices – Despite the increase in the number of homes sold, the average price of homes sold in the San Antonio was 3% lower than February 2023. The average price of a home sold in the San Antonio area in February was $348,961. The median price homes sold for in February was $295,000, a 3% decrease compared to one year ago.

Average sold price per square foot in February was $173, which was 1%, lower than the average price per square foot in February 2023.  Broken down between existing homes and new construction, existing homes sold for an average of $174 per square foot and new construction homes sold for an average of $170 per square foot in February.

Days on Market – Single family homes in the San Antonio area stayed on the market for an average of 80 days in February which was 11% eleven percent longer than in February 2023.

List Price to Sales Price Ratio – On average, homes sold for 93.1% of their original list price in February. This is up slightly from the average of 92.6% of their original list price that homes sold for in January.

Condominium and Townhomes – The number of Condominium and townhomes sold in February was 33% lower than one year ago with a total of 35 units sold. The average sold price of condos and townhomes, at $273,634 was 12% twelve percent higher than in February 2023..  Condominiums and townhomes stayed on the market for an average of 57 days in February, which was 8% eight percent less time than condos stayed on the market in February 2023.

Housing Inventory – At the end of February, there were approximately 4.3 months of inventory available for sale in the San Antonio area, so we are moving to a more balanced market. In February there were 4,011 new listings and of those, 2881 were resale homes and 1,130 were new construction. There were a total amount 11,974 homes on the market. The total number of new construction home listings at 4,120 was 6% higher than in February 2023.

New Home Sales Data – One of the most interesting trends over the past year is the increase in new home sales. The number of new construction homes sold in February was 39% higher year over year. The San Antonio new construction market has risen to meet the needs of homebuyers by increasing inventory, building more homes in the price ranges that buyers are looking for and by offering pricing and financing promotions that have helped home buyers to get into homes.

In the San Antonio area we are fortunate to have a wide range of new construction homes available and currently many home builders are offering promotional pricing, closing costs assistance and interest rate buy downs to help home buyers to get into a home. If you would like to learn more about new construction homes, you can easily search for available and to be built new construction homes and communities at https://www.showingnew.com/trudyedwards.

If you are home buyer, looking to get into a new home, but have concerns about interest rates and home affordability, here are a few things to consider.  there are still lots of options available to help you get into a home such as low down payment mortgage programs, builder promotions, down payment assistance programs and creative financing strategies available to help home buyers get into a home with a more affordable monthly payment. 

If you would like to learn more about down payment assistance programs and available options, contact your trusted mortgage lender or reach out to me for more information and recommendations for local lenders that can help match you to the best lending options for you.

Even if you are not quite ready to buy right now, if it’s your goal to buy a home this year, you can take steps to buying your first home and building generational wealth, by setting your goals, making a plan, taking steps to manage your finances, improving your credit and staying informed so that you’ll be ready to move forward when the opportunity arises. 

If you want to make a move but have a home to sell before you can buy your next home, I have lots of options to help you sell your home with less stress and more money in your pocket!

A lot of homeowners today are sitting on tremendous home equity. But some homeowners have not been able to access that equity to make needed home repairs. Perhaps you have been putting off selling your home because you haven’t been able to make the repairs or cosmetic updates that would make your home desirable to the biggest pool of buyers. I can help you with that! Contact me today for a no obligation home seller consultation and we can review your options, including making home improvements with no upfront costs, payment at closing.

Whether you are thinking of buying a new construction home, buying your first home, or selling your your current home, it pays to work with a trusted real estate professional with local market insights. If you are ready to make your next move in the San Antonio area, reach out today for a no obligation home buyer or seller consultation with Trudy Edwards, REALTOR with Keller Williams Heritage.

Browse San Antonio area new construction homes and floorplans at ShowingNew.com/TrudyEdwards

** Percentage increases are based on a year-over-year comparison of February 2024 in comparison with February 2023. San Antonio market data provided by San Antonio Board of REALTORs

Modest Increase in San Antonio Home Sales February 2017

San 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.

Despite Recent Increases, San Antonio’s Housing Remains Affordable

April 2015 San Antonio Housing Market Statistics

There was plenty of activity in the San Antonio real estate market as single-family home sales increased 13 percent over the number of homes sold in April 2014.

Homes priced under $200,000 accounted for the majority of sales according to figures in the April 2015 Multiple Listing Report recently released by the San Antonio Board of REALTORS® (SABOR).

The number of days homes are staying on the market is now down to just 59 days while months of inventory rose slightly to 3.8 months from 3.6 months in March.  April’s average price edged up six percent year-over-year to an average of $224,426 and the median price rose 7 percent to $189,300.

“Though our prices continue to show increases and our supply remains low, San Antonio is still an affordable market compared to what we are seeing nationally,” said Mary Ann Jeffers, SABOR’s 2015 Chairman of the Board. “During the first quarter, the national median sales price for existing single family homes was $205,200 while San Antonio’s was just $184,200.”

According to Realtor.com, the increases seen around the country in prices are correcting for severe price declines in the recent past. These higher prices are to be expected as the economy improves. Home sales have strengthened as more buyers have entered the market during the spring buying season, and sustained job growth and interest rates below four percent have also been a catalyst behind the improvement in sales.

Growing prices coupled with low supply have not deterred local buyers who continue to flood the market seeking their dream homes. In April, the month ended with 2,390 sales still pending, a 13.6 percent increase from April 2014.

“With so many sales still pending, we head into the summer buying season with a healthy start and expect to keep seeing strong sales figures,” said Angela Shields, SABOR’s President and CEO. “Higher prices should encourage more owners to put their homes on the market and builders to start more construction. Already our inventory has edged up slightly and we hope to continue to see the steady demand result in an increased supply.”

San Antonio Home Sales Recap	April 2013	April 2014	April 2015
Month Total # of Sales	1989	2123	2398
Average Price	$204,222	$210,941	$224,426
Median Price	$168,300	$177,000	$189,300

*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 find out if now is a good time for you to buy or sell, contact your San Antonio real estate resource, Trudy Edwards of Keller Williams Realty Heritage at (210) 595-9801 or truesarealestate@gmail.com.

San Antonio Home Prices Reach Year High in June

San Antonio home prices 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

Number of Homes Sold Hits Five Year High in San Antonio

The number of homes sold in San Antonio in May 2013 hit a five year high of 2,480 homes sold as reported by the San Antonio Board of REALTORs® (SABOR). This number represents a 31 percent increase in sales when compared to May 2012’s volume of home sales. In addition, the year-to-date number of homes sold rose 19 percent when compared to this time last year.

Housing inventory continues to remain around at 5.1 months while the average amount of time that homes remain on the market has dropped 15 percent to a low of 78 days.

“The summer months are typically the busiest time of year in real estate, and the May numbers prove that consumer confidence is high and the market is continuing to thrive,” said Steven Gragg, 2013 SABOR Chairman of the Board. “Both buyers and sellers are reaping the benefits of an extremely healthy real estate climate in San Antonio.”

According to the National Association of REALTORS®, the housing market continues to look optimistic. Home prices are primed to rise in 2013 and 2014 due to lagging housing starts and an ongoing inventory shortage. Americans are also feeling confident in the housing recovery.

Number of sales is not the only gain seen in the San Antonio housing market. The average price of a home sold in May 2013 was $216,940, a 10 percent increase over May 2012. The median price of homes sold in May 2013 was $174,000, a seven percent increase compared to 2012.

“We saw 59.2 percent of homes sold priced under $200,000 which is typical. But we also had a jump in sales of homes over $500,000 with those transactions accounting for nearly five percent of the sales instead of their usual three to four percent,” said Angela Shields, SABOR President and CEO. “With our city’s continued job growth and interest rates still low, it’s no surprise we are seeing people able to make their money go further and take advantage of our affordable market.”

If you are considering buying or selling a home in the San Antonio area, contact San Antonio real estate resource, Trudy Edwards of Legend Realty Group, KELLER WILLIAMS Realty Heritage at (210) 595-9801 or truesarealestate@gmail.com for a complimentary consultation.

 

San Antonio Home Sales	May 2011	May 2012	May 2013
Total Month Sales	1,782	1,899	2,480
Average Price	$191,750	$198,091	$216,940

San Antonio Housing Market Continues to Flourish in March

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
Average Price	$182,871	$185,549	$194,271
Median Price	$149,200	$158,600	$158,900

Signs Point to a Healthy Housing Market in San Antonio

The February 2013 Multiple Listing Service report from the San Antonio Board of REALTORS®  showed signs pointing to a healthy real estate market in San Antonio.

San Antonio home sales were up eight percent (8%) in February with 1,379 homes sold. Another indicator of a healthy housing market is that 96.3 percent of those homes sold for the list price.   

Single family residential homes spent a mere 99 days on the market in February 2013, which is a four percent decrease from this time last year.

 “Low days on market indicate consumers are finding homes more quickly and we are tilting more towards a seller’s market,” said Steven Gragg, 2013 SABOR Chairman of the Board.

According to Fannie Mae’s February 2013 National Housing Survey, 25 percent of those surveyed say they believe it is a good time to sell a house. This is the highest percentage ever recorded in the survey’s history.

In addition to the quick turnaround of home sales, there has been a boom in luxury homes for the month with 4.4 percent of total homes sold being over $500,000, the highest percentage since 2011. 

Homes sold in the range under $200,000 accounted for 66.1 percent of total homes sold and those between $200,000 and $500,000 accounted for 29.6 percent. The average sales price for February 2013 for single family residential homes was $194,003 while the month’s median price was $157,000.

“With spring and summer around the corner, we are getting ready to enter our busiest season. We are hopeful that market conditions will continue to be this favorable, allowing both buyers and sellers to be satisfied in their transactions,” said Angela Shields, SABOR President and CEO. 

San Antonio Sales Recap	February 2011	February 2012	February 2013
Total Month  Sales	1,079	1,278	1,379
Average Price	$179,035	$184,397	$194,003
Median Price	$146,000	$150,500	$157,000

For more information about buying or selling a home in the San Antonio area, contact San Antonio real estate resource, Trudy Edwards of Legend Realty Group, KELLER WILLIAMS Realty Heritage at (210) 595-9801 or truesarealestate@gmail.com for a complimentary consultation, or visit TrueSARealEstate.com.

San Antonio Home Sales Are Up as Mortgage Rates Continue to Drop

If you are thinking of buying or selling a home in San Antonio, this is a good time to be in the market. The San Antonio Board of REALTORS® (SABOR ) recently reported a 7 percent increase in September sales compared to the same month in 2011, according to the September 2012 Multiple Listing Service report by). The average and median prices for September are also up, both showing a 2 percent increase from last year.

“Sales in the midrange of prices ($200,000 to $500,000) have been up the last several months, peaking in June,” Liza Reyes, SABOR Chairman of the Board, said. “This month, a good portion of sales continued to occur in this midrange, which kept prices higher and on par with previous months.”

Locally, the total number of homes sold has steadily increased in 2012, with only a small taper in September after the summer boom. However, the comparative increase in sales, with 1,683 homes sold in San Antonio in September 2012, compared to 1,534 in September 2011, confirms that the local housing market is holding steady.

Mortgage rates this month at or around 3.49% are back at record lows. The decline in the 30-year fixed rates is partially due to a result of the Federal Reserve’s recent move to buy $40 billion of mortgage-backed securities each month until the job market improves. As a result, mortgage applications for refinancing and home purchases increased across the nation.

Home buying affordability remains high for home buyers who buy now while rates are low.

	Setpember 2010	September 2011	September 2012
Total Month  Sales	1,391	1,534	1,683
Average Price	$185,778	$190,211	$192,594
Median Price	$149,900	$152,500	$157,900

For more information about buying or selling a home in the San Antonio area, contact San Antonio real estate resource, Trudy Edwards of Legend Realty Group, KELLER WILLIAMS Realty Heritage at (210) 595-9801 or truesarealestate@gmail.com for a complimentary consultation.

San Antonio Home Sales Continue to Increase in May

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.

Liza Reyes, 2012 SABOR  Chairman

“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 truesarealestate@gmail.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.

If you are looking to find affordable housing in the San Antonio metropolitan area, visit my website at href=”http://www.truesarealestate.com”>www.truesarealestate.com to search properties and learn more about buying or selling a home in the San Antonio area.