The San Antonio Board of REALTORS recently released the sales statistics for December 2014 along with the total 2014 sales numbers. The report showed that a total of 24,735 homes were sold since January 2014 which is a five percent (5%) increase from the same period in 2013. The Average Sales Price for the year rose five percent (5%) to $218,762 and the Median Sales Price climbed by six percent (6%) to $180,600.
The month of December itself also saw increases across the board with a whopping 16 percent (16%) increase in sales from the previous December for a total of 2,083 sales.
At the end of November, 2014, the San Antonio real estate market had only 3.9 months of inventory. By the end of December 2014 that had decreased even further to only 3.5 months of inventory. With a shortage of inventory, homes are selling faster, as shown by the Days on Market Average that at the end of December 2014 was only 70 days.
Mary Ann Jeffers, SABOR’s 2015 Chairman of the Board remarks that “The tight inventory makes this a sellers’ market while low interest rates allow buyers to make their money go further. It’s a good time to buy or sell on both fronts.”
At the recent SABOR San Antonio Housing Forecast, Mario Hernandez of the San Antonio Economic Development Foundation gave updates on the status of employment and companies moving to San Antonio. At the end of 2014 the unemployment rate in San Antonio was down to only 4.3% compared to 6% in 2013 as job growth increased 2.62% in 2014. Hernandez also highlighted some of the factors that attract companies to invest in San Antonio –
- affordable land and energy
- a skilled workforce of over 1 million
- 15 schools and colleges with over 150,000 enrolled
- Cost of living 9.2 points below US average
Hernandez also highlighted that San Antonio has been hailed by the national media in 2014 as—
- “Best City For Business” by Forbes Magazine
- “#4 Boomtown in US” by Bloomberg
- “#3 New Tech Hotspot” by Forbes Magazine
All of these factors indicate that it is a great time to buy or sell a home in San Antonio.
|Sales Recap||December 2012||December 2013||December 2014|
|Total Month Sales||1,548 (9% increase)||1,800 (14% increase)||2,083 (16% increase)|
|Average Price||$193,374 (4% increase)||$212,827 (10% increase)||$224,193 (5% increase)|
|Median Price||$160,400 (5% increase)||$173,100 (7% increase)||$184,100 (6% increase)|
If you are thinking of buying or selling a home in San Antonio and would like to learn more about the San Antonio real estate market, contact you San Antonio real estate resource, Trudy Edwards, for more information. Trudy Edwards is a real estate sales and marketing professional and an Accredited Buyer Representative with Keller Williams Realty Heritage. Contact Trudy Edwards at (210) 595-9801 or firstname.lastname@example.org.