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San Antonio Area Home Sales Saw Double Digit Increase in April

SABOR-mkt-Stats-graphic-April-17

The volume of home sales in the San Antonio area shot up 17 percent year-over-year in April, according to the Multiple Listing Service (MLS) Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the San Antonio MLS. A total of 2,848 homes were sold in April and 98 percent of those homes sold for list
price. The month ended with 2,881 sales still pending and inventory remained low with a tight 3.4 months available.

In addition, both the average and median home prices experienced modest increases, with the average price rising two percent year-over-year to $255,952 and the median price increasing three percent year-over-year to $222,800.

While it’s true that the low inventory means homes are high in demand, there are still many properties available for sale at a variety of price points, For those looking to buy, just know that you’ll need to be ready to make a quick decision. You can prepare by
making sure you know your priorities and getting pre-approved.

Homes in the mid-range of prices continued to make up just over half the market – 53.4 percent – while homes priced under $200,000 accounted for 40.1 percent of the homes sold. The remaining 5.9 percent of the homes sold were those priced over $500,000. April reported 8,870 active listings and 4,045 new listings available.

Meanwhile, the number of home sales in Bexar County increased 15.3 percent year-over-year for a total of 2,107 homes sold. Both the average and median prices in the county experienced little year-over-year growth, with the average remaining consistent with last year for a price of $242,045 and the median edging up just 1.8 percent year-over year
to $208,500.

“With nearly 3,000 sales still pending at the end of April, we head into the beginning of the summer buying season with a healthy start and expect to keep seeing strong sales figures,” said Gilbert Gonzalez, SABOR’s Interim CEO. “Higher prices should encourage more owners to put their homes on the market, adding much needed supply to our inventory.”

SABOR Multiple Listing Service Report:

SA Home Sales Recap April 2016 April 2017 April 2018
Total Month Sales 2,481 (4% increase) 2,443 (2% decrease)  2,848 (17% increase)
Average Price $234,575 (4% increase) $251,738 (8% increase) $255,952 (2% increase)
Median Price $199,400 (5% increase) $215,400 (8% increase)  $222,800 (3% 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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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.