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San Antonio Home Sales & Prices Continue Moderate Increase in October

San Antonio area home buyers contributed to a five percent jump in total home sales in October, despite less than four months of inventory available, according to the latest Multiple Listing Service Report (MLS) from the San Antonio Board of REALTORS®. Just over 2,500 homes sold during the month while the average days on market dropped four percent to 55 days. October ended with 2,203 home sales still pending.

Home prices were almost evenly split between the low and mid-ranges in October with 47 percent priced under $200,000 and 48 percent priced between $200,000 and $500,000. Homes priced over $500,000 accounted for the remaining five percent of the month’s sales, with 15 of those priced over $1 million.

The San Antonio area continues to be one of the most affordable metro areas in the state with almost half the homes priced under $200,000. In fact, the median price of a home in Bexar County in October was $196,000 while homes in Travis County sold for a median close to $340,000.

In other parts of Texas, housing market figures continued an upward trajectory. Sales in Harris County in October increased 6.3 percent year-over-year with a median price of $215,000 and sales in Dallas County rose 2.8 percent with a median sales price of $230,000. Meanwhile, sales in Travis County increased 1.4 percent with a median price of $339,000.

Back in the San Antonio area, the average sales price remained consistent with 2016 with a price just over $241,000. A total of 3,131 homes were listed in October, and 9,131 listings were active during the month.

With prices remaining stable and new listings continually coming on the market, there is something for both buyers and sellers here. For homebuyers this is a great time to look for a home as there tends to be less competition in the off-season. For sellers, this is a great time to sell as home prices have been steadily increasing and homes have been selling for an average of 97.4 percent of listed price.

Across the state of Texas, a total of 25,277 homes were sold in October, with the average price increasing 3.7 percent to $270,793. The median home price across Texas jumped up five percent to $220,500 while days on market remained low at just 59 days.

SABOR Multiple Listing Service Report: Home Sales Recap 

 SA Home Sales Recap October 2015 October 2016 October 2017
Total Month Sales 2,223 (5% increase) 2,399 (8% increase) 2,507 (5% increase)
Average Price $229,637 (10% increase) $240,373 (5% increase) $241,127 (0% increase)
Median Price $186,900 (6% increase) $203,300 (8% increase) $207,100 (2% 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 Taper in September Amid Tight Inventory

0917-SABOR-mkt-stats

The San Antonio summer home buying frenzy relaxed slightly in September as the school year began and the weather started to cool. Sales during the month numbered 2,587, a one percent decrease from this time last year, according to the Multiple Listing Service Report (MLS) from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. Despite the slight decline, median and average prices experienced moderate increases with the median rising five percent to $213,500 and the average increasing two percent to $247,058. The month ended with 2,152 sales still pending, 136 more homes than September of 2016.

“It is not unusual for sales to taper off once the summer season winds down. Kids are returning to school so families want to remain in one place, and many buyers and sellers like to be settled for the coming holiday season as well,” said Yvette Allen, SABOR’s 2017 Chairman of the Board. “This has still been a busy year for real estate in the San Antonio area. In fact, since January, a total of 23,414 homes have been sold, which is three percent more than this time period last year.”

Homes priced between $200,000 and $500,000 made up 50.3 percent of the homes sold in September and homes priced under $200,000 made up 45 percent of the month’s sales. Homes priced over $500,000 accounted for 4.8 percent of September’s sales, with 12 of those priced over $1 million.

Meanwhile, days on market plummeted seven percent from the previous year to just 52 days in September and months of inventory also remained low with 3.8 months available.

“In San Antonio, months of inventory have remained below four months for about two years making it a tight market that favors sellers,” said Gilbert Gonzalez, SABOR’s interim CEO. “This means that those looking to buy need to be ready to act fast. Know your budget and priorities, and work with an experienced REALTOR® who can help you navigate the process.”

In Texas, total home sales rose just 0.4 percent year-over-year for a total of 26,666 homes sold across the state. The average price increased 4.8 percent to $273,383 and the median rose 7.1 percent to $225,000. Months of inventory in the state measured just 3.9 months available.

SABOR Multiple Listing Service Report: Home Sales Recap

September 2015 September 2016 September 2017
Total Month Sales 2,384 (7% increase) 2,618 (9% increase) 2,587 (1% decrease)
Average Price $232,660 (6% increase) $241,757 (4% increase) $247,058 (2% increase)
Median Price $191,700 (4% increase) $203,700 (6% increase) $213,500 (5% 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.

San Antonio Housing Market Continues to Outpace Previous Years

June 2017 SA housing Infographic

Growing prices paired with low supply have not deterred San Antonio area home buyers who continue to flood the market seeking their dream homes, pushing up the total home sales for the first six months of 2017 to 14,845, a four percent year-over-year increase according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. To date this year, the average and median sales prices have also both increased, by a moderate five percent to $248,923 and $211,700, respectively.

“Our local market consistently outperforms last year’s, putting the San Antonio area on track for another record-breaking year,” said Yvette Allen, SABOR’s 2017 Chairman of the Board. “Though prices have increased, they are still generally lower than those in other major Texas metros. This affordability combined with so many jobs relocating here as well as our booming tech, medical and military industries help San Antonio maintain its popularity among buyers.”

In June, homes priced below $200,000 made up 41.4 percent of homes sold while homes priced between $200,000 and $500,000 accounted for 52.9 percent of the month’s sales. Homes priced over $500,000 made up 5.8 percent of the market.

The median and average prices experienced five percent year-over-year growth during the June, with the median home price rising to $222,000 and the average price increasing to $257,753. Months of inventory remained low with just 3.8 months available. The month ended with 2,512 sales still pending, a two percent increase from June 2016. Price per square foot rose four percent year-over-year to $115 and 97.9 percent of homes sold for the list price.

“This continues to be a hot market, and homes can sell quickly. For buyers interested in purchasing a home this summer, they can prepare by identifying their must-haves in a home, getting pre-approved and working closely with their REALTOR®,” said Angela Shields, SABOR’s President and CEO.

SA Home Sales Recap June 2015 June 2016 June 2017
Total Month Sales 2,897 (18% increase) 3,053 (5% increase) 3,177 (4% increase)
Average Price $242,011 (5% increase) $246,044 (2% increase) $257,753 (5% increase)
Median Price $201,100 (6% increase) $212,000 (6% increase) $222,000 (5% increase)
  Year-to-Date January-June 2015 January-June 2016 January-June 2017
Total Month Sales 13,212 (12% increase) 14,268 (7% increase) 14,845 (4% increase)
Average Price $230,951 (7% increase) $236,234 (2% increase) $248,923 (5% increase)
Median Price $192,600 (8% increase) $$200,900 (4% increase) $211,700 (5% 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.

10 Free Ways to Help Your Home Sell in Less Time

If you are thinking of selling your home, or whether it is on the market already, your home needs to look fresh and appealing to buyers, online and in person. This list details 10 things that you can do right now in your home for free to help improve your home’s marketability. Following these tips will help you attract more buyers to set appointments to see your home and make your home more appealing to buyers when they view your home.

  1. Keep the Front Yard Trimmed and Tidy. Create a great first impression by keeping your lawn weed free, trimmed and edged. Rake up any leaves and keep shrubs neatly trimmed and shaped. Colorful seasonal flowers can make a dramatic impact and help attract interest in your home, especially for the photos.
  2. Wash the Windows. It’s amazing how much dirt and grime can build up on your windows over time, making your windows look dark and dull. Cleaning your windows inside and out will help make your home look clean and appealing from the outside and more light and airy on the inside.
  3. Keep Your Home Odor Neutral. Your home’s odor can make a powerful first impression. If you are a smoker, or have pets, you might not notice the odors in your home, but home buyers certainly will. Thorough cleaning of carpets and drapes will help to reduce odors, as will keeping the air circulating throughout the home. Air fresheners are available in many different long lasting forms these days such as plug-ins, solids, liquids, and automatic misters.
  4. De-Clutter Your Home.You are getting ready to move, so why not start packing? Each box that you fill will be less to do later, and will help your home look cleaner and more spacious. You will also want to make sure that all mail and personal papers are stored out of sight.
  5. De-Personalize Your Home. We don’t want to totally remove the character from your home, but removing personal items such as photographs, children’s names on bedroom walls and collectible memorabilia will help to maintain your privacy and make it less distracting for home buyers who are trying to envision themselves living in your home.
  6. Create More Space in Your Closets. Create the sense that your home has plenty of storage space by making sure your closets have room to move in. Pack away clothing and accessories that are not in season.
  7. Make Minor Repairs. You don’t want to give buyers the impression that your home is not well maintained. Buyers will also be looking for any reason to reject your home or to negotiate a price reduction. So take care of any leaky faucets, patch up and paint any minor holes or cracks in the walls, replace the torn window screens and you will attract more potential buyers and minimize reductions or repairs to be negotiated later.
  8. Keep your Home Clean and Ready for Showings. Once your home is on the market, your home may be shown while you are at work or out shopping, or at short notice while you are at home. Get in the habit of keeping your home clean and ready for showings. Keep non-essential items off of counter tops. Keep a basket with a duster, polish and wipes at hand to quickly wipe surfaces.
  9. Keep Pets Confined.If it is possible to remove your pets from the home during showings, then that is the best solution. If pets can’t be removed from the premises, for example, while you are at work, then it is best to have to them confined in crates if possible.
  10. Stay Away During Showings. When your home is being shown by a Real Estate agent to prospective buyers, you should leave the house during the showing. Buyers often feel uncomfortable if the Sellers are present during a showing and as a result spend much less time looking at the home. Leaving the home and staying out of sight during showings, allows home buyers to take their time to comfortably tour and consider your homes features and suitability.

I hope that you found these home selling tips to be of benefit. For more home selling tips and seller resources, visit my website at TrudyEdwards.YourKWAgent.com