The San Antonio Board of REALTORS® (SABOR) recently released its report on May housing sales in San Antonio which showed that the number of sales of single-family homes increased 4% compared to May 2011. Key housing indicators all improved in May 2012 compared to May 2011.
The average price for a single family home in San Antonio also increased by 4% to $197,451, while the median home price increased 5% to $161,400, compared to May 2011. Both average and median prices have improved month over month this year, marking a favorable housing trend for the year.
“We’re glad to see that home sales continue to increase,” said Liza Reyes, 2012 SABOR Chairman of the Board. For five consecutive months, San Antonio has had less than 7 months supply of home inventory, signaling a very balanced market in terms of supply and demand which favors both buyers and sellers.SABOR President and CEO Angela Shields said “we credit the strength of the housing market to San Antonio’s continued job growth, affordability and low interest rates
Lawrence Yun, National Association of REALTORS® chief economist, said the national housing recovery is underway. “It is no longer just the investors who are taking advantage of high affordability conditions. A return of normal home buying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices,” he said. “The general downtrend in both listed and shadow inventory has shifted from a buyers’ market to one that is much more balanced, but in some areas it has become a seller’s market.”
May 2012 SABOR Statistics
- $197,451– Average price for single-family homes in May 2012, 4% higher than a year ago.
- $161,400 – Median price for single-family homes in May 2012, 5% higher than a year ago.
- 1,889– Total number of single-family residential home sales in May 2012, 4% higher than a year ago.
- 1,778 – The number of pending home sales in May 2012.
For more information about buying or selling a home in the San Antonio area, contact San Antonio real estate resource, Trudy Edwards of KELLER WILLIAMS Realty Heritage at (210) 595-9801 or firstname.lastname@example.org for a complimentary consultation.