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.

 

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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.

San Antonio Home Sales Heat Up in July 2015

It’s been a busy summer for home buyers and home sellers in the San Antonio-New Braunfels Metropolitan Statistical Area. San Antonio Board of REALTORS® (SABOR)’ recently reported a total of 2,978 sales of existing and new homes in July in the area representing a jump of 18.6 percent in a year-over-year to comparison. Home prices moved up also in July with the average sales price increasing by 4.7 percent to $240,469 and the median home price by 6.4 percent to $200,000.

“Our market this summer continues to outperform previous years,” said Mary Ann Jeffers, 2015 Chairman of the San Antonio Board of REALTORS®. “In addition to the rise in sales and prices, months of inventory in July remained low with 4.1 months while days on market plummeted to just 48 days, 3 days less than the Texas average of 51.”

The majority of the month’s sales were existing homes which experienced an 18.7 percent increase with a total of 2,642 existing homes sold.  Existing homes sold for an average sales price of $231,371, a 4.6 percent year-over-year increase, while the median was $190,000, a 6.4 percent increase from 2014.

New home construction also saw significant growth in July. Sales of new home construction shot up 17.5 percent for a total of 336 homes sold with an average sales price of $311,886, a 5.5 percent increase from 2014. Median price was $280,000, a 4.8 percent year-over-year increase.

These increases come on the heels of a recent report from WalletHub which ranked San Antonio’s housing market as the third healthiest in the country due to affordable prices and equity levels. In fact, of the three Texas cities that made the list, San Antonio claimed the highest spot.

Bexar County alone reported significant growth with 2,204 homes sold in July, a 14.3 percent increase from 2014. In Bexar County the average sales price increased by 4.5 percent to $230,489 and the median sales price increased 6.0 percent to $189,000.

“Not only is the San Antonio area reporting strong numbers, but the whole state has experienced immense growth as well,” said Angela Shields, SABOR President and CEO. “Texas reported 169,757 homes sold since January, a 5.8 percent year-over-year increase with total dollar volume up 12.4 percent. We continue to be one of the fastest growing states due to our affordability, strong economy and warm weather.”

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.

Home Sales Remain Strong in San Antonio Summer

June-2015-mkt-stats-graphic-0615According to the June 2015 Multiple Listing Report by the San Antonio Board of REALTORS® (SABOR), home sales saw their biggest increase yet this year in June with 2,925 homes sold. This is an 18 percent increase from the same month in 2014 and the largest number of sales in a single month this year. While both the average and median sales prices dropped marginally from May, both saw increases from last year. June’s average sales price rose five percent to $242,588 and the median price edged up six percent to $200,900.

The average sales price has remained over $200,000 since February 2014 while the median has maintained that level since May 2015. “Our market has been favorable to sellers this year as prices keep growing and length of time to sell a home continues to shrink,” said Mary Ann Jeffers, SABOR’s 2015 Chairman of the Board. “In June, homes sold for 97.8 percent of list price and price per square foot shot up to $108, a four percent increase from last year. It’s a prime market for sellers.”

Many sellers are jumping into the market as low inventory often creates faster sales and higher home prices in many areas. According to Fannie Mae’s recent National Housing Survey, 52 percent of Americans surveyed believe now is a good time to sell, the first time this metric has risen above 50 percent. In June, 3,875 new listings came on the San Antonio market, nearly 18 percent more than this time last year, and the month ended with 2,381 sales still pending. Days on market in San Antonio continue to fall with June reporting just 52 days, a 21 percent drop from June 2014, and months of inventory remains steady at 4.0 months.

While the market is tight for buyers, they are still finding homes to meet their needs. In June, homes priced below $200,000 continued to make up the majority of sales in the San Antonio market with 49.74 percent of homes sold priced in this bracket. Homes selling over $500,000 continued to climb with June reporting 5.88 percent in this range. Of those, most were priced between $500,000 and $600,000 with a total of 12 homes sold over one million dollars. Homes priced between $200,000 and $500,000 accounted for 44.41 percent of the month’s sales. “As the number of new listings continues to surge, buyers still have options when it comes to finding their dream home,” said Angela Shields, SABOR’s President and CEO.

San Antonio Home Sales Recap Jun-13 Jun-14 Jun-15
Month Total # of Sales  2,337 (12% increase) 2.483 (6% increase) 2,925 (18% increase)
Average Price $219,489 (6% increase) $231,919 (6% increase) $242,588 (5% increase)
Median Price $179,400 (6% increase) $189,200 (5% increase)  $200,900 (6% 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 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.

Summer Home Buying Season Off to a Strong Start San Antonio

May-2015-SA-mkt-stats-graphicThe San Antonio home sales numbers for May 2015 show that the summer home buying season got off to a strong start. According to a recent Multiple Listing Report from the San Antonio Board of REALTORS® (SABOR), May 2015 home sales in San Antonio totaled 2,574, a nine percent increase from the same month in 2014. Home spent an average of 59 Days on Market which was 11 percent less than in May 2014. Despite the strong sales activity the number of months of inventory increased to 3.9 months, the highest inventory figure all year.

Home prices in San Antonio showed a year over year increase of 10 percent with May’s average sales price at $246,772. Meanwhile, the median sales price climbed above $200,000 for the first time, with a price of $202,500.

“Our population has been surging as companies continue to relocate to San Antonio, bringing higher income jobs in the technology, military and medical fields,” said Mary Ann Jeffers, SABOR’s 2015 Chairman of the Board. “An increase in income levels as well as higher quality homes being built are translating into price increases. However, there does not appear to be any slow-down in the market. Inventory has edged up slightly, meaning there are more homes available for buyers, and sellers are able to get close to asking price.” In fact, according to the National Association of REALTORS®, the residential real estate market is on track for its best year since 2006, but this time without threat of a housing bubble.

More than three million jobs have been created across the country in the last year, and that growth has fueled the demand for homes. With low inventory and high demand, prices have increased in many markets around the nation. Low interest rates have also contributed to the higher sales as buyers can afford more house for their money.

In May in San Antonio, homes priced over $500,000 made up 5.75 percent of the market, a record for that price bracket and slightly above the previous high of 5.70 percent in July 2010. Meanwhile, homes priced below $200,000 accounted for 49.18 percent of sales and homes priced between $200,000 and $500,000 accounted for 44.99 percent of the total homes sold in May.

“Already this year, 10,269 homes have sold in San Antonio which is 11 percent more than this time last year,” said Angela Shields, SABOR’s President and CEO. “Our market has always been steady and with our warm weather, booming job growth and affordability, we expect to see continued demand for homes in San Antonio this summer.”

San Antonio Home Sales Recap May-13 May-14 May-15
Total Month Sales 2,499 (31% increase)  2,358 (6% decrease) 2,574 (9% increase)
Average Price $216,337 (10% increase)  $224,515 (4% increase) $246,772 (10% increase)
Median Price $175,900 (7% increase)  $184,400 (4% increase) $202,500 (10% 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 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.

Downpayment Assistance for San Antonio Home Buyers Through City Homebuyer Incentive Program

Row of HomesAre you tired of paying for rent and want to become a homeowner but need some help with down payment for your home purchase? If you are looking to buy a home in the San Antonio area there are several down payment assistance programs available to choose from, including the San Antonio Homebuyer Incentive Program (HIP) offered though the City.

The San Antonio Homebuyer Incentive Program helps eligible residents who are buying a new or existing home within the program area with up to $12,000 for down payment or closing costs. As of May 31st 2015 the program area was expanded to include all areas of San Antonio that are within the City of San Antonio tax district. To be eligible for the down payment assistance home buyers must meet program income limit guidelines. The buyer’s home purchase amount cannot exceed $120,000.

If you are interested in taking advantage of this program one of the first steps is to participate in the Homebuyer’s Club, which is a home buyer education program that will provide a better understanding of the purchasing process, requirements, credit, home maintenance, etc.

After completing the Homebuyer’s Club classes your next step would be to shop for your loan and choose a mortgage company or bank to finance the purchase. It will be important for you to choose a lender that has familiarity with and experience of working with the SA HIP program.

Once you are pre-qualified by a lender you will be ready to start looking for a home within the price range that your lender has pre-qualified you for. While it is not required for you to use a REALTOR® for you to take advantage of the SA HIP down payment assistance program, a local REALTOR® familiar with the market and the guidelines of the program can be your best resource to help you find your new home and to guide through the process of making an offer, having the property inspected, negotiating repairs or contract changes, and keeping the sale on track through to closing. There is usually no cost to you to have a Buyer’s Agent represent you throughout the buying process.

Home Buyer education classes are held once a month over a couple of evenings. To register for the next class it is best to call to register at the beginning of the month as classes are usually held mid-month and they fill up quickly. If you want to register for this program, contact the City of San Antonio HIP program at (210) 207-5420 or view more information about classes and email through the website link at http://www.renewsa.com/ProgramsServices/HomebuyersClub.aspx 

If you want to find out more about taking advantage of this or other down payment assistance programs in San Antonio or would like to request a no obligation Buyer Consultation with a knowledgeable, local REALTOR® contact Trudy Edwards of KELLER WILLIAMS Realty Heritage at (210) 595-9801 or TrueSARealEstate@gmail.com.

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Copyright 2015 NATIONAL ASSOCIATION OF REALTORS®

Despite Recent Increases, San Antonio’s Housing Remains Affordable

April 2015 San Antonio Housing Market Statistics

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.