Blog Archives

San Antonio Housing Market Continues Steady Growth in July 2016

Home prices in the San Antonio and surrounding areas continued their steady growth in July with both the average and median sales prices reporting moderate increases, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. The average price increased three percent from July 2015 to $246,032 and the median rose six percent to $211,900.

“The San Antonio area continues to be one of the most affordable markets in Texas,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board. “For example, the median sales price of a home in Bexar County in July was $200,000 while the median was $335,000 in nearby Travis County and $219,250 in Harris County.”

About half the homes sold in July were priced between $200,000 and $500,000 while homes priced under $200,000 made up 45.3 percent of the market. Homes priced over $500,000 made up just 4.53 percent of the market, including 15 homes sold priced over $1 million.

July reported just 3.9 months of inventory, consistent with previous months. In fact, months of inventory in the San Antonio and surrounding areas has remained at or below four months for nearly two years and was last at six months of inventory in November 2012. Months of inventory is an indicator of where the balance of the market lies. “Typically, inventory below six months favors sellers while inventory between six to eight months is considered balanced. We’ve been experiencing a seller’s market for nearly four years in the San Antonio area,” explains Angela Shields, SABOR’s President and CEO. “With such a tight market, it’s important those looking to buy a home work closely with a REALTOR® to make sure they stay informed of the latest listings and find a home that suits their needs.”

In Texas, a total of 28,546 homes were sold last month, a 7.5 percent decrease from the amount sold in July 2015. The average price of a home sold in Texas increased 2.7 percent to $268,418 and the median rose 6.8 percent to $219,000.

If you are thinking of buying or selling a home in the San Antonio metropolitan area, and would like 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.

SABOR Multiple Listing Service Report: July 2016
 Home Sales Recap Jul-14 Jul-15 Jul-16
Total Month Sales  2,482 (3% increase)  2,908 (17% increase) 2,850 (2% decrease)
Average Price $228,957 (5% increase) $239,222 (5% increase)  $246,032 (3% increase)
Median Price $187,000 (6% increase) $199,800 (7% increase) $211,900 (6% increase)
*Percentage increases are based on a year-over-year comparison.

July 16 mkt-stats-graphic SABOR-0716

Advertisements

San Antonio Area Home Sales Break Record in 2015

2015-SA-mkt-stats-graphic-smSan Antonio area home values increased by an average of six percent in 2015. The San Antonio Board of REALTORS® (SABOR) recently released its final analysis of Multiple Listing Service reports for San Antonio area home sales for 2015. SABOR reports on all areas contained within the SABOR MLS system, including Alamo Heights, Boerne, Converse, Fair Oaks Ranch, Garden Ridge, Hollywood Park, Leon Valley, Terrell Hills and many other municipalities in the San Antonio Metropolitan area.

Market activity was strong throughout 2015 and the year ended with a record high in the total number of homes sold in the San Antonio area with 27,154 homes sold. Prior to this, the year with the most recorded sales was 2006 in which 26,169 homes were sold.

The average sales price of a San Antonio area home in 2015 was $231,976 and the median sales price was $192,800, a six and seven percent increase respectively. In 2015 the average number of days that homes stayed on the market decreased to just 60 days, which is a twelve percent decrease when compared to the 2014 average days on market.

The average price per square foot of a San Antonio area home increased five percent over 2014 numbers to an average cost of $106 per square foot.

Homes priced under $200,000 made up 52.9 percent of the homes sold in 2015 while those priced between $200,000 and $500,000 accounted for 42.26 percent of sales. Homes priced over $500,000 made up 4.77 percent of the homes sold.

In just the city of San Antonio, a total of 12,231 single family homes were sold in 2015. This is a seven percent increase over the previous year’s sales. Of these sales, 11,569 were existing homes while 661 were new construction. The median sales price of an existing home was $165,000, a 6.5 percent year-over-year increase and the median sales price of a new construction home increased two percent year-over-year to $197,748.

“We continue to see more and more people getting into the housing market, whether they are buying or selling, and with homes at affordable prices all around the city and surrounding areas, there really is something for everyone in this market,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board. “In fact, while the majority of homes sold are still below $200,000, we have seen a gradual shift in more homes being sold in the range between $200,000 and $500,000.”

“Not only was this a record-breaking year in our real estate market in terms of sales, but December ended with 1,401  sales still pending as we headed into the New Year,” said Angela Shields, SABOR’s President and CEO.

Across Texas, total home sales also experienced year-over-year increases with 4.4 percent more homes sold in 2015 than in 2014. The average price of a home sold in the state in 2015 was $253,208, a 5.3 percent increase and the median price was $198,000, a 7.3 percent increase.

If you are thinking of buying or selling a home in the San Ant0nio area and would like to receive a no obligation consultation with an experienced REALTOR® to discuss the real estate market in more detail, contact Trudy Edwards of KELLER WILLIAMS Realty Heritage at (210) 595-9801 or TrueSARealEstate@gmail.com.

 

San Antonio Home Sales Heat Up in July 2015

It’s been a busy summer for home buyers and home sellers in the San Antonio-New Braunfels Metropolitan Statistical Area. San Antonio Board of REALTORS® (SABOR)’ recently reported a total of 2,978 sales of existing and new homes in July in the area representing a jump of 18.6 percent in a year-over-year to comparison. Home prices moved up also in July with the average sales price increasing by 4.7 percent to $240,469 and the median home price by 6.4 percent to $200,000.

“Our market this summer continues to outperform previous years,” said Mary Ann Jeffers, 2015 Chairman of the San Antonio Board of REALTORS®. “In addition to the rise in sales and prices, months of inventory in July remained low with 4.1 months while days on market plummeted to just 48 days, 3 days less than the Texas average of 51.”

The majority of the month’s sales were existing homes which experienced an 18.7 percent increase with a total of 2,642 existing homes sold.  Existing homes sold for an average sales price of $231,371, a 4.6 percent year-over-year increase, while the median was $190,000, a 6.4 percent increase from 2014.

New home construction also saw significant growth in July. Sales of new home construction shot up 17.5 percent for a total of 336 homes sold with an average sales price of $311,886, a 5.5 percent increase from 2014. Median price was $280,000, a 4.8 percent year-over-year increase.

These increases come on the heels of a recent report from WalletHub which ranked San Antonio’s housing market as the third healthiest in the country due to affordable prices and equity levels. In fact, of the three Texas cities that made the list, San Antonio claimed the highest spot.

Bexar County alone reported significant growth with 2,204 homes sold in July, a 14.3 percent increase from 2014. In Bexar County the average sales price increased by 4.5 percent to $230,489 and the median sales price increased 6.0 percent to $189,000.

“Not only is the San Antonio area reporting strong numbers, but the whole state has experienced immense growth as well,” said Angela Shields, SABOR President and CEO. “Texas reported 169,757 homes sold since January, a 5.8 percent year-over-year increase with total dollar volume up 12.4 percent. We continue to be one of the fastest growing states due to our affordability, strong economy and warm weather.”

If you are thinking of buying or selling a home in San Antonio and would like to find out if now is a good time for you to buy or sell, contact your San Antonio real estate resource, Trudy Edwards of Keller Williams Realty Heritage at (210) 595-9801 or truesarealestate@gmail.com.

Home Sales Remain Strong in San Antonio Summer

June-2015-mkt-stats-graphic-0615According to the June 2015 Multiple Listing Report by the San Antonio Board of REALTORS® (SABOR), home sales saw their biggest increase yet this year in June with 2,925 homes sold. This is an 18 percent increase from the same month in 2014 and the largest number of sales in a single month this year. While both the average and median sales prices dropped marginally from May, both saw increases from last year. June’s average sales price rose five percent to $242,588 and the median price edged up six percent to $200,900.

The average sales price has remained over $200,000 since February 2014 while the median has maintained that level since May 2015. “Our market has been favorable to sellers this year as prices keep growing and length of time to sell a home continues to shrink,” said Mary Ann Jeffers, SABOR’s 2015 Chairman of the Board. “In June, homes sold for 97.8 percent of list price and price per square foot shot up to $108, a four percent increase from last year. It’s a prime market for sellers.”

Many sellers are jumping into the market as low inventory often creates faster sales and higher home prices in many areas. According to Fannie Mae’s recent National Housing Survey, 52 percent of Americans surveyed believe now is a good time to sell, the first time this metric has risen above 50 percent. In June, 3,875 new listings came on the San Antonio market, nearly 18 percent more than this time last year, and the month ended with 2,381 sales still pending. Days on market in San Antonio continue to fall with June reporting just 52 days, a 21 percent drop from June 2014, and months of inventory remains steady at 4.0 months.

While the market is tight for buyers, they are still finding homes to meet their needs. In June, homes priced below $200,000 continued to make up the majority of sales in the San Antonio market with 49.74 percent of homes sold priced in this bracket. Homes selling over $500,000 continued to climb with June reporting 5.88 percent in this range. Of those, most were priced between $500,000 and $600,000 with a total of 12 homes sold over one million dollars. Homes priced between $200,000 and $500,000 accounted for 44.41 percent of the month’s sales. “As the number of new listings continues to surge, buyers still have options when it comes to finding their dream home,” said Angela Shields, SABOR’s President and CEO.

San Antonio Home Sales Recap Jun-13 Jun-14 Jun-15
Month Total # of Sales  2,337 (12% increase) 2.483 (6% increase) 2,925 (18% increase)
Average Price $219,489 (6% increase) $231,919 (6% increase) $242,588 (5% increase)
Median Price $179,400 (6% increase) $189,200 (5% increase)  $200,900 (6% increase)
*Percentage increases are based on a year-over-year comparison.

If you are thinking of buying or selling a home in San Antonio and would like to find out if now is a good time for you to buy or sell, contact your San Antonio real estate resource, Trudy Edwards of Keller Williams Realty Heritage at (210) 595-9801 or truesarealestate@gmail.com.

Summer Home Buying Season Off to a Strong Start San Antonio

May-2015-SA-mkt-stats-graphicThe San Antonio home sales numbers for May 2015 show that the summer home buying season got off to a strong start. According to a recent Multiple Listing Report from the San Antonio Board of REALTORS® (SABOR), May 2015 home sales in San Antonio totaled 2,574, a nine percent increase from the same month in 2014. Home spent an average of 59 Days on Market which was 11 percent less than in May 2014. Despite the strong sales activity the number of months of inventory increased to 3.9 months, the highest inventory figure all year.

Home prices in San Antonio showed a year over year increase of 10 percent with May’s average sales price at $246,772. Meanwhile, the median sales price climbed above $200,000 for the first time, with a price of $202,500.

“Our population has been surging as companies continue to relocate to San Antonio, bringing higher income jobs in the technology, military and medical fields,” said Mary Ann Jeffers, SABOR’s 2015 Chairman of the Board. “An increase in income levels as well as higher quality homes being built are translating into price increases. However, there does not appear to be any slow-down in the market. Inventory has edged up slightly, meaning there are more homes available for buyers, and sellers are able to get close to asking price.” In fact, according to the National Association of REALTORS®, the residential real estate market is on track for its best year since 2006, but this time without threat of a housing bubble.

More than three million jobs have been created across the country in the last year, and that growth has fueled the demand for homes. With low inventory and high demand, prices have increased in many markets around the nation. Low interest rates have also contributed to the higher sales as buyers can afford more house for their money.

In May in San Antonio, homes priced over $500,000 made up 5.75 percent of the market, a record for that price bracket and slightly above the previous high of 5.70 percent in July 2010. Meanwhile, homes priced below $200,000 accounted for 49.18 percent of sales and homes priced between $200,000 and $500,000 accounted for 44.99 percent of the total homes sold in May.

“Already this year, 10,269 homes have sold in San Antonio which is 11 percent more than this time last year,” said Angela Shields, SABOR’s President and CEO. “Our market has always been steady and with our warm weather, booming job growth and affordability, we expect to see continued demand for homes in San Antonio this summer.”

San Antonio Home Sales Recap May-13 May-14 May-15
Total Month Sales 2,499 (31% increase)  2,358 (6% decrease) 2,574 (9% increase)
Average Price $216,337 (10% increase)  $224,515 (4% increase) $246,772 (10% increase)
Median Price $175,900 (7% increase)  $184,400 (4% increase) $202,500 (10% increase)
*Percentage increases are based on a year-over-year comparison.

If you are thinking of buying or selling a home in San Antonio and would like to find out if now is a good time for you to buy or sell, contact your San Antonio real estate resource, Trudy Edwards of Keller Williams Realty Heritage at (210) 595-9801 or truesarealestate@gmail.com.

San Antonio Housing Inventory Remains Low, Days on Market Drop

mkt-stats-graphic-1014sm

San Antonio Housing Market Statistics October 2014

San Antonio’s tight housing inventory kept home prices up in October 2014, while days on market fell by 11 percent. The average price of a home sold in October saw a year-over-year increase of three percent to $210,887 while the median price rose four percent to $176,200. The month ended with 2,164 total sales and 1,755 sales still pending according to the October 2014 Multiple Listing Service report of home sales data from the San Antonio Board of REALTORs.

SABOR’s 2014 Chairman of the Board, Missy Stagers reported that “Our months of inventory are down to just 4.1 and homes in October only spent an average of 62 days on the market. This is certainly good news for sellers because it means the time it takes to sell a house has dropped considerably while prices continue to beat those seen in previous years.”

According to research from the National Association of REALTORS®, across the country homes that sold for one million dollars or more rose by eight percent this year, while homes at every other price point dropped by four percent. In San Antonio, 91 homes have sold over one million dollars since January, compared to 83 last year. In fact, the luxury home market has increased in 2014 with homes priced over $500,000 accounting for approximately 4.3 percent of sales this year (compared to 4.0 percent during the same period in 2013).

However, the largest growth has been seen in the homes priced in the mid-range. In October, the largest percentage of sales occurred between $200,000 and $250,000 with those making up 14.5 percent of sales. The second most popular range was homes priced between $300,000 and $400,000 which accounted for 10.4 percent of sales.

“Despite heading into the winter months which traditionally can be a little slower, we continue to see record numbers of sales and prices this season,” said Angela Shields, SABOR’s President and CEO. “We never really see San Antonio slow down. With our military families moving in and out of the city year round as well as a steady growth in jobs, there are always houses on the market and buyers eager to find their new home.”

Home Sales Recap Oct-12 Oct-13 Oct-14
Total Month Sales 1554 1863 2164
Average Price $194,354 $205,484 $210,887
Median Price $158,800 $169,400 $176,200

If you are looking to buy or sell a home in the San Antonio, Texas area, contact Trudy Edwards with KELLER WILLIAMS Realty Heritage to schedule a complimentary consultation.

Also, please feel free to share this information with a friend and bookmark this page for future reference as well!

San Antonio Home Sales in 2013 Highest Since 2006

San-Antonio-mkt-stats-graphic-1213sm

San Antonio Home Sales Statistics for December 2013

The San Antonio housing market closed 2013 with 23,390 homes sold, a 17 percent increase over 2012’s closing number and only eight percent less than the amount of homes sold in 2006. According to the San Antonio Board of REALTORS® Multiple Listing Service, the average sales price for 2013 rose seven percent from the previous year to $207,884 and the median price increased six percent to $170,200.“At our recent Housing Forecast event, we learned that job opportunities and population are both steadily growing in San Antonio, meaning more people are relocating here and searching for a home,” said Missy Stagers, SABOR’s 2014 Chairman of the Board. “We certainly saw this in 2013’s boom in sales, and expect 2014 to continue with that trend.”

According to Forbes magazine, San Antonio ranked second on its list of U.S. metro areas to watch in 2014. The list pointed to San Antonio’s 6.2 percent growth in jobs during 2013 and a low unemployment rate of 6.2 percent – well below the national average of seven percent.

Throughout 2013 the San Antonio market experienced a steady increase in homes sold over $500,000. The month of December reported the highest percentage of sales in that price bracket, with those making up 4.66 percent of the total 1,760 homes sold during the month. Homes priced under $200,000 made up 61.76 percent of sales and homes priced between $200,000 and $500,000 accounted for 33.52 percent of the total homes sold.

“Not only are homes selling fast, with 2013 reporting an average of just 78 days on the market, but 97 percent of homes are selling for list price,” said Angela Shields, SABOR’s President and CEO. “That means both buyers and sellers are reaping the benefits of a healthy housing market.”

Sales Recap. Dec. 2011 Dec. 2012 Dec. 2013
Total Month Sales 1,361 1,548 1,760
Average Price $184,708 $193,374 $212,151
Median Price $149,500 $160,400 $171,400

If you are looking to buy or sell a home in the San Antonio, Texas area, contact Trudy Edwards with Legend Realty Group, KELLER WILLIAMS Realty Heritage to schedule a complimentary consultation.

Also, please feel free to share this information with a friend and bookmark this page for future reference as well!

San Antonio Home Prices Reach Year High in June

San Antonio home pricSan Antonio Home Sales June 2013es reached a high in June 2013, according to the latest Multiple Listing Service report by the San Antonio Board of REALTORS® (SABOR). The average price of homes sold for the month was $221,168 and the median was $180,400, which are both six percent increases from June of last year. The total number of homes sold in June was 2,315 and the number of sales pending as the month closed was 1,920. 

“The summer buying and selling season is in full swing, and we see that in these numbers. Not only are prices continuing to rise, but the demand is still high with homes selling faster than ever. Right now we have 5.1 months of inventory with homes spending an average of 73 days on market – the lowest all year,” said Steven Gragg, 2013 SABOR Chairman of the Board.

According to a study by Realty Trac, foreclosures across the nation are at their lowest level for any month in 7.5 years and are down 29 percent from where they were a year ago. In Texas, foreclosure activity is down 42.3 percent for the year as of June.

“The steady drop in foreclosures signals a strengthening housing economy driven by steady job growth, low interest rates and rising home values,” said Angela Shields, SABOR President and CEO. “In fact, we are seeing a gradual shift among San Antonio buyers toward purchasing homes priced in the mid-range. In June 2013, 38.44 percent of buyers purchased homes priced between $200,000 and $500,000. At this time last year, that number was closer to 35 percent.”

The average price of a single family residential home year-to-date was $205,352 and the median price year-to-date was $167,300 a six percent and five percent increase compared to 2012, respectively.

Demand for rentals in the San Antonio market has also continued to rise. A total of 1,355 residential rental properties were rented in June, which marks a six percent increase compared to June 2012.

If its time for you to make a move and you are thinking of buying or selling a home in the San Antonio area, contact Trudy Edwards, of Legend Realty Group, KELLER WILLIAMS Realty to request information about sales activity in your San Antonio area neighborhood.

San Antonio Home Sales

June 2011

June 2012

June 2013

Total Month Sales

1,946  

2,063

2,315

Average Price

$192,514

$209,214

$221,168

Median Price

$156,500

$170,300

$180,400

Number of Homes Sold Hits Five Year High in San Antonio

San Antonio Home Sales Hit 5 Year HighThe number of homes sold in San Antonio in May 2013 hit a five year high of 2,480 homes sold as reported by the San Antonio Board of REALTORs® (SABOR). This number represents a 31 percent increase in sales when compared to May 2012’s volume of home sales. In addition, the year-to-date number of homes sold rose 19 percent when compared to this time last year.

Housing inventory continues to remain around at 5.1 months while the average amount of time that homes remain on the market has dropped 15 percent to a low of 78 days.

“The summer months are typically the busiest time of year in real estate, and the May numbers prove that consumer confidence is high and the market is continuing to thrive,” said Steven Gragg, 2013 SABOR Chairman of the Board. “Both buyers and sellers are reaping the benefits of an extremely healthy real estate climate in San Antonio.”

According to the National Association of REALTORS®, the housing market continues to look optimistic. Home prices are primed to rise in 2013 and 2014 due to lagging housing starts and an ongoing inventory shortage. Americans are also feeling confident in the housing recovery.

Number of sales is not the only gain seen in the San Antonio housing market. The average price of a home sold in May 2013 was $216,940, a 10 percent increase over May 2012. The median price of homes sold in May 2013 was $174,000, a seven percent increase compared to 2012.

“We saw 59.2 percent of homes sold priced under $200,000 which is typical. But we also had a jump in sales of homes over $500,000 with those transactions accounting for nearly five percent of the sales instead of their usual three to four percent,” said Angela Shields, SABOR President and CEO. “With our city’s continued job growth and interest rates still low, it’s no surprise we are seeing people able to make their money go further and take advantage of our affordable market.”

If you are considering 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.

 

San Antonio Home Sales

May 2011

May 2012

May 2013

Total Month Sales

1,782

1,899

2,480

Average Price

$191,750

$198,091

$216,940

San Antonio Housing Market Continues to Flourish in March

KB at Lakeside Model HomeWith interest rates at historic lows and the summer months just around the corner, the San Antonio residential housing market is continuing to flourish with steady increases in sales prices and the number of homes sold each month.

The San Antonio Board of REALTORs® latest Multiple Listing Service report revealed that in March 2013 the average sales price of a single family residential home was $194,271, up five percent from last year. The median sales price remained at $158,900, the same as March 2012.

Days on market fell to just 90 days on the market in March, down from 99 days on the market in February. There were 1,826 home sales closed in March and 1,935 sales still pending at the end of March.

“Low rates continue to make this a prime time to buy and sell real estate. We saw how the low rates caused the housing market to prosper in 2012, and we are continuing to see that trend as 2013 fares even better,” said Steven Gragg, 2013 SABOR Chairman of the Board.

The average rate for a 30-year fixed loan recently fell to below 3.5 percent according to Freddie Mac’s latest Primary Mortgage Market Survey®. The average rate on the 15-year fixed mortgage dipped below 2.7 percent.

Housing inventory is at 5.3 months, compared to 6.6 months at this time last year. With a quick turnaround in sales, the market is skewing in favor of sellers with 96.9 percent of homes being sold for list price.

Homes sold in the price range under $200,000 accounted for 66.8 percent of total homes sold and those between $200,000 and $500,000 accounted for 29.2 percent. Homes priced at $500,000 and more made up 3.9 percent of the total sales for March.

“San Antonio was recently ranked by Forbes as one of the top 25 cities in the country to retire, citing the city’s low cost of living and stable economy. While other cities in the country experience peaks and downturns, San Antonio remains steady and consistent which makes it the perfect place to call home,” said Angela Shields, SABOR President and CEO.

San Antonio Home Sales Recap
March 2011 March 2012 March 2013
Total Month   Sales 1,556 1,654 1,826
Average Price   $182,871 $185,549 $194,271
Median Price $149,200 $158,600 $158,900