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San Antonio Home Sales Numbers Surged Again in February
Following an 11% increase in home sales in January, San Antonio home sales activity continued to strengthen in February
The number of single family homes sold in the San Antonio area in February was up 14%, compared to February 2023 with 2,697 homes sold, as reported by the San Antonio Board of REALTORS (SABOR) Multiple Listing Service Report.
Average and Median Home Prices – Despite the increase in the number of homes sold, the average price of homes sold in the San Antonio was 3% lower than February 2023. The average price of a home sold in the San Antonio area in February was $348,961. The median price homes sold for in February was $295,000, a 3% decrease compared to one year ago.
Average sold price per square foot in February was $173, which was 1%, lower than the average price per square foot in February 2023. Broken down between existing homes and new construction, existing homes sold for an average of $174 per square foot and new construction homes sold for an average of $170 per square foot in February.
Days on Market – Single family homes in the San Antonio area stayed on the market for an average of 80 days in February which was 11% eleven percent longer than in February 2023.
List Price to Sales Price Ratio – On average, homes sold for 93.1% of their original list price in February. This is up slightly from the average of 92.6% of their original list price that homes sold for in January.
Condominium and Townhomes – The number of Condominium and townhomes sold in February was 33% lower than one year ago with a total of 35 units sold. The average sold price of condos and townhomes, at $273,634 was 12% twelve percent higher than in February 2023.. Condominiums and townhomes stayed on the market for an average of 57 days in February, which was 8% eight percent less time than condos stayed on the market in February 2023.
Housing Inventory – At the end of February, there were approximately 4.3 months of inventory available for sale in the San Antonio area, so we are moving to a more balanced market. In February there were 4,011 new listings and of those, 2881 were resale homes and 1,130 were new construction. There were a total amount 11,974 homes on the market. The total number of new construction home listings at 4,120 was 6% higher than in February 2023.
New Home Sales Data – One of the most interesting trends over the past year is the increase in new home sales. The number of new construction homes sold in February was 39% higher year over year. The San Antonio new construction market has risen to meet the needs of homebuyers by increasing inventory, building more homes in the price ranges that buyers are looking for and by offering pricing and financing promotions that have helped home buyers to get into homes.
In the San Antonio area we are fortunate to have a wide range of new construction homes available and currently many home builders are offering promotional pricing, closing costs assistance and interest rate buy downs to help home buyers to get into a home. If you would like to learn more about new construction homes, you can easily search for available and to be built new construction homes and communities at https://www.showingnew.com/trudyedwards.
If you are home buyer, looking to get into a new home, but have concerns about interest rates and home affordability, here are a few things to consider. there are still lots of options available to help you get into a home such as low down payment mortgage programs, builder promotions, down payment assistance programs and creative financing strategies available to help home buyers get into a home with a more affordable monthly payment.
If you would like to learn more about down payment assistance programs and available options, contact your trusted mortgage lender or reach out to me for more information and recommendations for local lenders that can help match you to the best lending options for you.
Even if you are not quite ready to buy right now, if it’s your goal to buy a home this year, you can take steps to buying your first home and building generational wealth, by setting your goals, making a plan, taking steps to manage your finances, improving your credit and staying informed so that you’ll be ready to move forward when the opportunity arises.
If you want to make a move but have a home to sell before you can buy your next home, I have lots of options to help you sell your home with less stress and more money in your pocket!
A lot of homeowners today are sitting on tremendous home equity. But some homeowners have not been able to access that equity to make needed home repairs. Perhaps you have been putting off selling your home because you haven’t been able to make the repairs or cosmetic updates that would make your home desirable to the biggest pool of buyers. I can help you with that! Contact me today for a no obligation home seller consultation and we can review your options, including making home improvements with no upfront costs, payment at closing.
Whether you are thinking of buying a new construction home, buying your first home, or selling your your current home, it pays to work with a trusted real estate professional with local market insights. If you are ready to make your next move in the San Antonio area, reach out today for a no obligation home buyer or seller consultation with Trudy Edwards, REALTOR with Keller Williams Heritage.
Browse San Antonio area new construction homes and floorplans at ShowingNew.com/TrudyEdwards
** Percentage increases are based on a year-over-year comparison of February 2024 in com
New Homes Continued to Boost San Antonio Market in December
Here is my latest San Antonio area real estate market update with the local real estate news you need to know, including the December 2023 year end real estate sales data and trends for the year ahead.
San Antonio homes sales were in December were down 3%, compared to December 2022 with 2,410 homes sold, as reported by the latest San Antonio Board of REALTORS (SABOR) Multiple Listing Service Report. However, breaking that down further, SABOR reported that while sales of resale homes were down by 10% year over year in December, sales of new construction homes were actually up by 29% when compared to December 2022.
Average and Median Home Prices – Despite the decrease in the number of homes sold in December, the average and median prices of homes sold in the San Antonio area were effectively unchanged year over year. The average price of a home sold in the San Antonio area in December was $373,797. The median price homes sold for in December was $319,113.
Average sold price per square foot in December was $177, which was unchanged from the average price per square foot in December 2022.
Days on Market – Single family homes in the San Antonio area stayed on the market for an average of 73 days in December, which was 20% twenty percent longer than in December 2022.
List Price to Sales Price Ratio – On average, homes sold for 92.7% ninety two point seven percent of their original list price in December.
Condominium and Townhomes – The number of Condominium and townhomes sold in December was unchanged from one year ago with 41 units sold. The average sold price of condos and townhomes, at $251,314 was 24% twenty four percent lower than in December 2022. Condominiums and townhomes stayed on the market for an average of 63 days in December, which was 40% longer than condos stayed on the market in December 2022.
Housing Inventory – At the end of December, there were approximately 4.3 months of inventory available for sale in the San Antonio area, so we are moving to a more balanced market. In December there were 2,771 new listings and of those, 1692 were resale homes and 1079 were new construction. The amount of new construction home listings was 55% higher than in December 2022.
New Construction Home Sales – One of the most interesting trends over the past year is the increase in new home sales. At the end of December 2023 the number of resale homes that sold in the San Antonio area for the whole year of 2023 was 23% lower than in 2022. However, at the end of 2023, the number of new construction homes sold was 39% higher year over year. The San Antonio new construction market has risen to meet the needs of homebuyers by increasing inventory, building more homes in the price ranges that buyers are looking for and by offering pricing and financing promotions that have helped home buyers to get into homes.
Interest Rates – In October 2023, the average rate for a 30-year fixed mortgage rate peaked at 7.79%. In January, that dipped to around 6.6% which was the lowest level since May of 2023. That downward trend in rates has made moving more affordable now than it was just a few months ago.
“Given this stabilization in rates, potential homebuyers with affordability concerns have jumped off the fence back into the market.”
Sam Khater, Chief Economist at Freddie Mac:
Experts are predicting that interest rates will continue gradually decreasing over the next few months. Dean Baker, Senior Economist, Center for Economic Research, recently remarked “It also appears that mortgage rates are now falling again. They will almost certainly not fall to pandemic lows, although we may soon see rates under 6.0 percent, which would be low by pre-Great Recession standards.”
If you are a home buyer contemplating a move but have concerns about high interest rates and home affordability, here are a few things to consider.
Experts are predicting that interest rates will continue gradually decreasing over the next few months. Dean Baker, Senior Economist, Center for Economic Research, recently remarked “It also appears that mortgage rates are now falling again. They will almost certainly not fall to pandemic lows, although we may soon see rates under 6.0 percent”
If you are home buyer, looking to get into a new home, there are still lots of options to help you reach that goal, including mortgage programs, builder promotions, down payment assistance programs and creative financing strategies available to help home buyers get into a home with a more affordable monthly payment. If you would like to learn more about down payment assistance programs and available options, contact your trusted mortgage lender or reach out to me for more information and recommendations for local lenders that can help match you to the best lending options for you.
One area of opportunity for home buyers right now is with new construction home as we are fortunate to have a wide range of new construction homes available rhroughout the San Antonio area and currently many home builders are offering promotional pricing, closing cost assistance and interest rate buy downs to help home buyers to get into a home. If you would like to learn more about new construction homes, you can easily search for available and to be built new construction homes and communities at https://www.showingnew.com/trudyedwards.
Even if you are not quite ready to buy right now, if it’s your goal to buy a home this year, you can take steps to buying your first home and building generational wealth, by setting your goals, making a plan, taking steps to manage your finances, improving your credit and staying informed so that you’ll be ready to move forward when the opportunity arises.
If it’s your goal to make a move in the San Antonio area and you’d like to talk more about the steps to help you reach that goal, reach out today for a no obligation home buyer or seller consultation with Trudy Edwards, REALTOR with Keller Williams Heritage.
3 Key Factors Affecting Home Affordability
Over the past year, a lot of people have been talking about housing affordability and how tight it’s gotten. But just recently, there’s been a little bit of relief on that front.
Over the past year, a lot of people have been talking about housing affordability and how tight it’s gotten. But just recently, there’s been a little bit of relief on that front. Mortgage rates have gone down since their most recent peak in October. But there’s more to being able to afford a home than just mortgage rates.
To really understand home affordability, you need to look at the combination of three important factors: mortgage rates, home prices, and wages. Let’s dive into the latest data on each one to see why affordability is improving.
1. Mortgage Rates
Mortgage rates have come down in recent months. And looking forward, most experts expect them to decline further over the course of the year. Jiayi Xu, an economist at Realtor.com, explains:
“While there could be some fluctuations in the path forward … the general expectation is that mortgage rates will continue to trend downward, as long as the economy continues to see progress on inflation.”
And even a small change in mortgage rates can have a big impact on your purchasing power, making it easier for you to afford the home you want by reducing your monthly mortgage payment.
2. Home Prices
The second important factor is home prices. After going up at a relatively normal pace last year, they’re expected to continue rising moderately in 2024. That’s because even with inventory projected to grow slightly this year, there still aren’t enough homes for sale for all the people who want to buy them. According to Lisa Sturtevant, Chief Economist at Bright MLS:
“More inventory will be generally offset by more buyers in the market. As a result, it is expected that, overall, the median home price in the U.S. will grow modestly . . .”
That’s great news for you because it means prices aren’t likely to skyrocket like they did during the pandemic. But it also means it’ll probably cost you more to wait. So, if you’re ready, willing, and able to buy, and you can find the right home, purchasing before more buyers enter the market and prices rise further might be in your best interest.
3. Wages
Another positive factor in affordability right now is rising income. The graph below uses data from the Federal Reserve to show how wages have grown over time:
If you look at the blue dotted trendline, you can see the rate at which wages typically rise. But on the right side of the graph, wages are above the trend line today, meaning they’re going up at a higher rate than normal.
Higher wages improve affordability because they reduce the percentage of your income it takes to pay your mortgage. That’s because you don’t have to put as much of your paycheck toward your monthly housing cost.
What This Means for You
Home affordability depends on three things: mortgage rates, home prices, and wages. The good news is, they’re moving in a positive direction for buyers overall.
Bottom Line
If you’re thinking about buying a home, it’s important to know the main factors impacting affordability are improving. To get the latest updates on each, let’s connect.
San Antonio 2020 Home Sales Start the Year Strong
The San Antonio area housing market started the year with a 16 percent year-over-year surge in sales in January with a total of 2,078 homes sold during the month according to the latest Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS.
This growth in sales was accompanied by increases in both the average and median prices, with the average sales price rising eight percent to $267,792 and the median increasing six percent to $229,400. The month ended with 2,554 sales still pending with just 3.3 months of available inventory on the market.
While it’s typical to see a slow down in sales in the winter months, the San Antonio area continues to attract home buyers at all times of the year. With so much to offer like great schools, a stable economy, and a booming job market, it’s easy to see the San Antonio market is thriving.
In January, 36.6 percent of the homes sold were priced under $199,000 while 57.2 percent were priced between $200,000 and $499,000. The remaining 6.2 percent were homes sold over $500,000.
In Bexar County, home sales increased 14 percent over January 2019 for a total of 1,504 homes sold with an average sales price of $249,022, a five percent increase year-over-year. Months of inventory in the county remained low at 2.8 months while the price per square foot inched up 4.9 percent to $120. Texas as a whole experienced significant increases year-over-year with nearly 15 percent more homes sold in January 2020 than in 2019. In fact, a total of 19,323 homes sold in just the first month of the year. The average price statewide rose six percent to $282,296 while the median grew 5.4 percent to $235,000.
Even with the steady home price increases San Antonio has seen over the past several years San Antonio has remained more affordable than other major cities in Texas. This affordability means that home buyers can achieve their dreams of homeownership and still be able live in a major metropolitan area with all the attractions and benefits that San Antonio has to offer.
| San Antonio Home Sales Recap* | Jan-18 | Jan-19 | Jan-20 |
| Total Month Sales | 1,760 (4% increase) | 1,793(2% increase) | 2,078 (16% increase) |
| Average Price | $244,571 (2% increase) | $248,007 (2% increase) | $267,792 (8% increase) |
| Median Price | $210,700 (8% increase) | $216,800 (3% increase) | $216,800 (3% increase) |
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 Area Home Sales Figures Continue Record Growth
San Antonio area home sales leveled out after the summer boom while still remaining at a record high for this time of year. September reported 2,725 homes sold, which is a nine percent increase over this same month last year according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. Both average and median sales prices showed healthy growth as well, with an average sales price of $270,147 and a median of $237,200. The month ended with 3.7 months of inventory available, indicating a continued sellers’ market.
“Home sales are still outpacing previous years, which is good news for sellers. But there is still a lot of opportunity for buyers. September reported over 10,000 listings actively on the market. In fact, we’ve had over 10,000 listings available each month for the past six months,” said Grant Lopez, SABOR’s 2019 Chairman of the Board. “That means there are still a lot of properties available so get with your REALTOR® to discuss your options.”
The majority of homes sold in September still fell in the mid-range of $200,000 to $500,000, with those homes making up 61 percent of the market. Another 33.5 percent of the market were homes priced under $200,000 and the market over $500,000 made up the remaining 5.5 percent of sales. Bexar County fared similarly in September with increases in sales figures. A total of 1,986 homes sold in September, an 8.2 percent year-over-year increase.
Meanwhile, the average sales price of a home in the county increased to $258,873, a 5.7 percent increase, and the median rose 6.1 percent to $225,000. In Texas last month, 27,257 homes were sold, an 8.8 percent increase from 2018. The state average increased 3.6 percent to $292,126 while the median rose 5.6 percent to $244,990. The state reported just 3.7 months of inventory available.
| SA Sales Recap | Sep-17 | Sep-18 | Sep-19 |
| Month Sales | 2,580 (1% decrease) | 2,496 (2% decrease) | 2,725 (9% increase) |
| Average Price | $245,126 (2% increase) | $258,198 (7% increase) | $270,147 (5% increase) |
| Median Price | $213,400 (5% increase) | $224,000 (5% increase) | $237,200 (6% 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 Area Home Sales Sizzled in July
San Antonio area home sales continued to sizzle in July with the sales volume increasing six percent year-over-year for a total of 3,397 homes sold according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the San Antonio MLS. The average sales price also rose six percent to $277,242 while the median price of homes sold increased by four percent to $239,500.
The average number of days a home spent on the market in July was 52, two more days than this month last year. July reported just 3.9 months of inventory available.
“We always expect the summer months to show an increase in sales figures, and this year is no different,” said Grant Lopez, SABOR’s 2019 Chairman of the Board. “Though the average price has increased, it is still well below the average for the state and for other major metro areas in Texas, which is great news for buyers in the San Antonio area.”
July had nearly 11,000 active listings in the San Antonio metropolitan area, with the month ending with 2,865 sales still pending. Of the homes sold in July, 32.3 percent were priced under $200,000 while those priced between $200,000 and $500,000 made up 61.1 percent of the month’s sales. Homes priced over $500,000 accounted for the remaining 6.6 percent of July’s home sales.
SABOR Multiple Listing Service Report: Home Sales Recap*
| SA Sales Recap | Jul-17 | Jul-18 | Jul-19 |
| Month Sales | 2,950 (6% increase) | 3,214 (11% increase) | 3,397 (6% increase) |
| Average Price | $256,042 (4% increase) | $261,749 (2% increase) | $277,242 (6% increase) |
| Median Price | $218,600 (3% increase) | $230,200 (5% increase) | $239,500 (4% 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 Home Sales Continue Steady Climb in April
The latest Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) reported that the number of home sales in the San Antonio area increased by six (6) percent in April compared to this month last year, with the month ending with a total of 3,003 sales. Average sales price and median sales price each increased four percent, 4% year-over-year, with the average price rising to $267,071 and the median reaching $230,700. The month ended with 3,182 sales still pending (301 more than at the end of April 2018). The months of housing inventory continued its streak of remaining below four (4) months, with April reporting just 3.7 months available.
In April, the majority of homes sold in the San Antonio area were those priced between $200,000 and $500,000 with this segment making up 58.2 percent of the market. An additional 35.7 percent of the homes sold were those priced under $200,000 and the remaining 6.1 percent of homes sold were those priced over $500,000, with 18 of those priced over $1 million. Homes on average spent just 62 days on the market, four more than this time last year.
“While inventory has remained low, it is clear more and more people are still finding homes that meet their needs which has caused this increase in home sales,” said Grant Lopez, SABOR’s 2019 Chairman of the Board. “Prices will likely continue to grow as demand increases this summer, but the good news is these prices are still more affordable than other metro areas in the state.”
In fact, in nearby Travis County, the average price of a home sold in April was $483,914 while the average price of a home sold in Comal County was $341,040. For comparison, the average price of a home sold in Bexar County was just $256,669.
A total of 2,185 homes were sold in Bexar County during April, a 5.6 percent increase year-over-year, with the median rising 5.3 percent to an even $200,000. In Texas, total home sales increased 6.8 percent for a total of 29,950 homes sold. The average price of a home sold in the state was $298,657, a 4.6 percent year-over-year increase, and the median was $242,950, a 4.3 percent increase. The month reported just 3.6 months of inventory available.
“With the summer buying season on the horizon, our advice to those interested in buying or selling during this busy time is to know your priorities, and meet with a REALTOR® now so you can be ready to make a move quickly,” said Gilbert S. Gonzalez, SABOR’s President and CEO.
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.
| SA Sales Recap | Apr-17 | Apr-18 | Apr-19 |
| Month Sales | 2,443 (2% decrease) | 2,823 (17% increase) | 3,003 (6% increase) |
| Average Price | $251,738 (8% increase) | $255,987 (2% increase) | $267,071 (4%) |
| Median Price | $215,400 (8% increase) | $222,500 (3% increase) | $230,700 (4% increase) |
*Percentage increases are based on a year-over-year comparison.
San Antonio’s Spring Home Buying Season Kicks Off with Year-Over-Year Increases
San Antonio area home buyers started their spring shopping in March, causing a five percent year-over-year increase in the number of home sales for a total of 2,907 homes sold, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR). Both the average and median sales prices rose a marginal three percent, with an average price of $261,616 and a median of $227,200. Months of housing inventory continued to remain scarce with just 3.6 months available, and March closed with 3,046 sales still pending.
The report also provided a quarterly view and showed that by the end March 2019 the number of home sales had increase by four percent compared to the first quarter of 2018. The average price of homes sold this quarter went up three percent year-over-year to $256,221 and the median rose four percent to $223,400.
“It is exciting to see that people continue to find properties to call home in this market, whether they are first-time buyers achieving that dream of home ownership, or existing homeowners who have found an opportunity to move into a new property that meets their changing needs,” said Grant Lopez, SABOR’s 2019 Chairman of the Board.
“The fact that our prices have not skyrocketed like in other markets but rather have remained steady bodes well for the health and stability of our market, and I think you’re seeing more and more people taking advantage of that.” In March, 37.7 percent of homes sold were those priced under $200,000 while 5.6 percent were priced over $500,000.
The largest share of homes sold continues to be in the mid-range, between $200,000 and $500,000 with those accounting for 56.7 percent of sales.
Sales in Bexar County also reported increases, with total sales rising 4.7 percent in March, and five percent in the first quarter. The average sales price of a home in Bexar County in March rose 2.6 percent year-over-year to $249,996 while months of inventory continued to remain low with just 3.2 months available.
In Texas, home sales rose four percent year-over-year in March for a total of 28,122 homes sold, nearly seven thousand more than the number sold in February. The average price for a home sold in the state rose two percent to $289,534 and the median increased 3.3 percent to $237,500.
“Springtime is when we typically see sales start to increase, and we expect 2019 to be no different,” said Gilbert S. Gonzalez, SABOR’s President and CEO. “With the tight supply, potential buyers can prepare themselves by knowing their priorities and being ready to make a decision quickly.”
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.
| SA Sales Recap | Mar-17 | Mar-18 | Mar-19 |
| Month Sales | 2,608 (1% increase) | 2,780 (6% increase) | 2,907 (5% increase) |
| Average Price | $244,288 (7% increase) | $253,096 (4% increase) | $261,616 (3% increase) |
| Median Price | $202,800 (1% increase) | $219,900 (8% increase) | $227,200 (3% increase) |
*Percentage increases are based on a year-over-year comparison.
San Antonio Home Sales Start 2019 with Moderate Increases
After a year marked by steady continual increases in San Antonio area home sales figures, January carried that momentum into the new year with a moderate two percent increase year-over-year in total home sales, with a total of 1,788 homes sold 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 of a San Antonio area home in January also saw a two percent increase from last year to $249,477 while the median rose three percent to $217,200. Months of inventory edged up slightly to 3.4 months in January following the 3.2 months reported in December and the month ended with 2,255 sales still pending.
“Typically, most markets see a dip in home sales during the winter months,” said Grant Lopez, SABOR’s 2019 Chairman of the Board. “San Antonio is a very livable city year around, attracts new talent and it’s a place where many want to retire. It’s no wonder why we continue to see marked increases in home sales.”
In January 2019, 43 percent of the homes sold were priced under $199,000 while another 52 percent were those priced between $200,000 and $499,000. The remaining five percent of homes sold were priced over $500,000.
In Bexar County, home sales increased 2.4 percent from last year for a total of 1,341 homes sold with an average sales price of $239,836, a three percent increase from 2018. Months of inventory remained low at 3.0 months available and the price per square foot increased 5.6 percent to $114.
For the state of Texas, total sales in January decreased five percent to 16,834. However, the average sales price rose 2.9 percent to $268,424 and the median increased 2.1 percent to $222,565. The state reported 3.4 months of inventory available.
“Even with the increase in home prices, San Antonio is more affordable than other metro areas around Texas,” said Gilbert S. Gonzalez, SABOR’s President and CEO. “This affordability allows home buyers to live in a major metro area and still obtain their dream of home ownership.”
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.
| SA Sales Recap | Jan-17 | Jan-18 | Jan-19 |
| Month Sales | 1,683 (10% increase) | 1,760 (4% increase) | 1,788 (2% increase) |
| Average Price | $242,622 (8% increase) | $244,571 (2% increase) | $249,477 (2% increase) |
| Median Price | $194,700 (4% increase) | $210,700 (8% increase) | $217,200 (3% increase) |
*Percentage increases are based on a year-over-year comparison.
Demand for Homes Still High in San Antonio Area
San Antonio area real estate market showed strong home buyer activity in August. For the fourth consecutive month, area homes sales have surpassed 3,000 total sales with August reporting 3,236 homes sold, a nine percent year-over-year increase. The average home price rose seven percent to $267,661 while the median increased six percent to $231,200, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR), which reports on all areas contained within the MLS. Months of inventory continued to remain low with 3.7 months available.
“Inventory has remained at or below four months for around three years now, meaning we have been in a market favorable to sellers for quite some time,” said SABOR 2018 Chairman of the Board Lorena Peña. “However, that still shouldn’t deter buyers from jumping in. Just be ready to make a decision fast when you find the home you want. Get pre-approved, know what you’re willing to compromise on and work closely with your REALTOR® so you can see properties as soon as they are available.”
Homes spent just 53 days on the market in August, up from 49 days in July. Over 4,000 new listings hit the market in August and the month ended with 2,498 sales still pending. Just over 57 percent of the homes sold in August were those priced between $200,000 and $500,000. Homes priced under $200,000 made up 37 percent of the month’s sales while homes priced over $500,000 accounted for nearly six percent of the homes sold in August.
Bexar County reported 2,311 home sales in August, a 5.9 percent year-over-year increase. The median price of a home sold in the county rose 6.8 percent to $222,000 and the average price increased seven percent to $259,123. In Texas, total sales increased nearly 10 percent for a total of 31,870.
The average price of a home sold in the state of Texas was $293,530, a 5.4 percent year-over-year increase while the median price was $239,000, a 4.4 percent increase.
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 area Home Sales Recap | August 2016 | August 2017 | August 2018 |
| Total Month Sales | 2,918 (13% increase) | 2,957 (2% increase) | 3,236 (9% increase) |
| Average Price | $245,537 (4% increase) | $251,168 (3% increase) | $267,661 (7% increase) |
| Median Price | $211,900 (7% increase) | $218,900 (3% increase) | $231,200 (6% increase) |
*Percentage increases are based on a year-on-year comparison.
San Antonio Real Estate info 