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San Antonio Area Home Sales Continued Double Digit Increases November
The San Antonio area Real Estate market continued at a strong pace in November with 3,125 single family homes sold, which is a 27% increase in the amount of homes sold compared to November 2019 as reported by the San Antonio Board of Realtors Multiple Listing Service Report.
San Antonio Home values continued their upward trend in November with the average price of a home sold in the San Antonio area increasing to $311,604, a 19% increase over November 2019. The median price of a sold home increased to two hundred, sixty thousand, nine hundred dollars $260,900, which is 13% higher than one year ago.
Average sold price per square foot increased to $143 dollars, a 13% increase compared to November 2019.
Condominium and townhome sales were also up dramatically in November, with a 48% increase in the number of units sold and a 30% increase in average sales price compared to November 2019. Condos and townhomes sold for an average of $260,015 in November compared to $206,608 in November 2019.
At the end of November there were 6,197 listings on the market including 3,092 new listings. The month ended with 2,757 sales pending.
The average days on market in November was only 49 days, the same as October 2020 and 11 days less than in November 2019. Homes that are ready to move in to, attractively presented and priced right are moving quickly in this market.
We are in a strong seller’s market in San Antonio right now with only 2 months of inventory available in November, down slightly from 2.17 months in October.
With historically low interest rates, strong buyer demand and low inventory, this is a great time for sellers to be on the market. Lawrence Yun, Chief Economists at the National Association of REALTORS remarked that “This winter may be one of the best winters for sales activity” and that “On a winter to winter comparison this could e one of the best breakout years”…”based on the fact that pending contracts are at such a higher level”
Part of the reason for continued strong home buyer demand is that we have seen record low interest rates this year with rates below three percent 3% for a 30-year mortgage loan. Freddie Mac, The Federal Home Loan Mortgage Corporation, projects that interest rates on a 30-year mortgage will remain at or close to three percent, throughout twenty twenty one.
While demand for single family homes is strong, rural residential lots and acreage have continued to see increased interest and sales since the start of the COVID-19 pandemic. November saw a 57% increase in the number of lots sold compared to November 2019, with 384 lots sold. The average price of lots increased by seventeen percent 17% compared to one year ago.
Rural Farms and Ranches also saw huge increases in sales volume with 48 farms and ranches sold in November which is 14% more sales compared to the 42 sold in November 2019. The average price of rural farm and ranch properties that sold was $708,493 which was just -1% lower than in November 2019.
COVID-19 has impacted the real estate industry and influenced the way we conduct business. At True SA Real Estate Team, Keller Williams Heritage we are committed to helping our clients and customers stay safe throughout the home buying and selling process and are following the CDC guidelines and State and local mandates. We are also leveraging technology such as virtual tours, 3D tours, video tours and virtual open houses to allow home buyers to see homes for sale from the comfort of their homes.
If you are thinking of buying or selling a home in the San Antonio metropolitan area, and want to learn more about to safely buy or sell home at this time and 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 Up by Double Digits in September
Existing home sales activity was booming in September – Existing home sales activity was booming in the San Antonio Area in September with 3,623 homes sold in the San Antonio area which is a 32% increase in the number of homes sold compared to September 2019 as reported by the San Antonio Multiple Listing Service Report.
Home prices are going up – The average price of a home in San Antonio increased to $310,202 in September which is a 16% increase over September 2019. The median price of a home increased $261,200, which is an 11% increase compared to one year ago. The average price per square foot also increased to $140, an 11% increase compared to one year ago.
Condos and townhomes – also saw increased sales in September, with a 11% increase in the number of units sold and an 14% increase in average sales price for condos and townhomes compared to September 2019.
San Antonio Real Estate Inventory – At the end of September there were 7,108 listings on the market including 3,725 new listings. The month ended with 3,036 sales pending. The number of months of housing inventory in San Antonio went down slightly in September to 2.3 months down from 2.4 months in August. The average days on market in September was 53 days, the same as August and just one day higher than September 2019. Homes that are ready to move in to, attractively presented and priced right are moving quickly in this market.
Low Inventory – The number of months of housing inventory in San Antonio was only 2.3 months in September, down from 2.4 months in August. A balanced market is generally considered to be 6 months of supply so we are currently in a seller’s market.
Remarking on the shortage of inventory nationwide REALTOR.com reported that “Since the beginning of the COVID pandemic in March, nearly 400,000 fewer homes have been listed compared to last year, leaving a gaping hole in the U.S. housing inventory. As a result, home prices are accelerating at double last year’s pace.”
If you have been thinking about selling your home this could be the best time for you to sell your home for a great price.
Residential Lots and Acreage Sales – While demand for single family homes is strong, rural residential lots and acreage have seen a lot more interest and sales since the start of the COVID-19 pandemic. September saw a whopping forty seven percent (47%) increase in the number of lots sold compared to September 2019, with three hundred eight nine (389) lots sold. The average price of lots increased by fifty five percent (55%) compared to one year ago.
If you are looking for a change in environment, whether you are looking to sell a home or buy a home in the San Antonio area and want to work with a trusted partner throughout the process contact Trudy Edwards, REALTOR with the True SA Real Estate Team at Keller Williams Heritage, 210-595-9801 or trudyedwards@kw.com
San Antonio Home Sales Soared in July
Existing home sales took a giant leap in July – The San Antonio area housing market saw robust home sales activity in July with 4,231 homes sold in the San Antonio area which is a 25% increase in the number of homes sold compared to July 2019. That tells us that the real estate market is making up for lost time after the slowdown earlier in the year.
Record Low Interest Rates – One of the biggest driving factors of the boom in sales activity is historically low mortgage rates. Some buyers are being approved for 30 year mortgage rates under 3%. While this is great for anyone looking to refinance their home, it’s even better for people looking to purchase a home as these record low rates are making home ownership more affordable.
Home prices are going up – The average price of a home in San Antonio increased to $302,068 in July, which is a 10% increase over July 2019. The average price per square foot also increased to $136 per square foot, an 8% increase compared to one year ago. The median price of a home in the San Antonio area increased by 9% to $260,700.
Inventory is low – Another dominant trend in the market right now is low inventory. Some potential home sellers had put their home sale plans on hold due to the pandemic earlier in the year and that has further impacted an already tight housing inventory. The San Antonio market currently has only 2.6 months of inventory, putting further upward pressure on home prices. Homes that are ready to move in to, attractively presented and priced right are attracting multiple offers in this market.
However, the average days on market increased by 8% to 57 days in July, compared to 53 days in July 2019.
Rural areas are on the rise – With many people working from home at this time, more people are considering moves to the suburbs and rural areas. We saw a spike in interest in residential lots and acreage in July and the month ended with 369 lots sold, a 29% increase compared to July 2019. The average price of lots also increased by 9% and days on market for lots decreased by 6% as reported by the San Antonio Board of REALTORS Multiple Listing Service Report.
San Antonio Area Home Sales – July 2020
| SA Sales Recap | Jul-20 | Jul-19 | Jul-18 |
| Month Sales | 4231 (25% increase) | 3,396 | 3,214 |
| Average Price | $302,068 (10% increase) | $274,945 | $261,749 |
| Median Price | $260,700 (9% increase) | $238,900.00 | $230,200 |
| Avg. Days on Market | 57 days (2% decrease) | 53 days | 49 days |
If you are thinking of buying or selling a home in the San Antonio metropolitan area, and want to learn more about to safely buy or sell home at this time and 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 Real Estate info 