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February Home Sales, Prices Continue Year-Over-Year Increases

Feb-2018-SABOR-StatsSan Antonio area home buyers continued find and buy places to call home in February. The San Antonio Board of REALTORS® reported that February had a three percent year-over-year increase in sales for a total of 2,012 homes sold. Meanwhile, the average and median sales prices each climbed six percent from last year, with a median sales price of $215,100 and an average of $247,307.

The month ended with 2,186 sales still pending, and reported 8,562 listings actively on sale. The majority of homes sold, 51.3 percent, were those priced between $200,000 and $500,000 while 44 percent of sales were homes priced under $200,000. The remaining 4.6 percent of sales were those over $500,000 with nine of those homes priced over $1 million.

“With tight supply and high demand for homes, 97.6 percent of sellers in February were able to sell their homes for list price,” said Lorena Peña, SABOR’s 2018 Chairman of the Board. “But even though the market is favorable to sellers right now with just 3.3 months of inventory available, we still continue to see a steady flow of houses come on the market which is good news for buyers.” In fact, 3,122 new listings came on the market in February, nearly five percent more than last February.

Home sales in Bexar County remained even with February 2017 for a total of 1,451 homes sold. However, prices reported modest growth with the average increasing 7.4 percent to $236,447 and the median rising 3.1 percent to $200,000. Months of inventory in Bexar county remained low with just 2.8 months available. “

Though prices here have steadily risen, the increases are more moderate and sustainable than many other large cities in the country,” said Gilbert Gonzalez, SABOR’s Interim CEO. “With people continually 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.”

SABOR Multiple Listing Service Report:

Sales Recap Feb-16 Feb-17 Feb-18
Total Month Sales  1,890 (10% increase) 1,949 (3% increase) 2,012 (3% increase)
Average Price $227,812 (4% increase) $232,303 (3% increase) $247,307 (6% increase)
Median Price $190,800 (1% increase) $202,700 (6% increase) $215,100 (6% 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 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.

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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