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San Antonio Home Sales Increase, Inventory Remains Low in August

SABOR 8-17 mkt-stats-graphic

The San Antonio area housing market continues to sizzle with total homes sold in August 2017 rising two percent from last year for a total of 2,984 according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR).

The average price of a home sold in the area was $252,613 while the median was $218,400, both three percent year-over-year increases. “Not only did the total number of sales continue to rise compared to 2016, but August also had the lowest days on market than any other month this year with just 48 days,” said Yvette Allen, SABOR’s 2017 Chairman of the Board. “This is six days less than August of last year and three days fewer than the state’s 51 days on market. Homes can sell fast depending on price and location, so those interested in buying need to be prepared to make a decision quickly.” Days on market was not the only indicator of a continuously tight market. Months of inventory has remained below four months, at 3.6 in August, for nearly two years.

Homes are continuing to come on the market with 3,768 new listings available in August and 9,780 properties active. The month ended with 2,260 sales still pending.

Homes priced between $200,000 and $500,000 remained the dominant price range for buyers in August with this segment accounting for 52 percent of the month’s transactions. Homes priced under $200,000 made up 42.6 percent of the sales in August and 5.3 percent of the homes sold last month were priced over $500,000.

“Interest rates continue to remain low compared to previous years which allows buyers to make their money go further and get more house for their dollars,” said Angela Shields, SABOR’s President and CEO. “The best course of action when you are weighing your options to find the right house and price point for you is to work with a local REALTOR® who can guide you through the process.”

SA Home Sales Recap Aug-15 Aug-16 Aug-17
Total Month Sales  2,561 (5% increase) 2,918 (13% increase)  2,984 (2% increase)
Average Price  $236,259 (7% increase) $245,537 (4% increase)  $252,613 (3% increase)
Median Price  $198,300 (8% increase) $211,900 (7% increase) $218,400 (3% 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 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.

San Antonio Area Home Prices Rise as Summer Nears

SABOR-mkt-stats-graphic-0417Increased demand for homes and low inventory in the San Antonio area gave home prices a boost in April. The average sales price of a San Antonio area home in April 2017 was $252,854 and the median sales price was $215,500, both increases of eight percent over last year’s figures, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS.

Meanwhile, total home sales took a two percent dip and months of inventory inched up to 3.6 months from March’s 3.5 months. “Though home sales experienced a small decrease, we saw 3,783 new listings come on the market last month with 8,845 listings active, the highest all year,” said Yvette Allen, SABOR’s 2017 Chairman of the Board. “This means sellers are taking the opportunity to get their homes on the market as the summer buying season gets closer and gives us a little more inventory to accommodate all the buyers looking for homes.”

In April homes spent just 59 days on the market, consistent with March’s duration and a day less than this time last year. The price per square foot increased $115 which is a seven percent over the average of April last year. The month ended with 2,538 sales still pending.

Half the homes sold in April 2017 were priced between $200,000 and $500,000 while 44 percent were priced under $200,000. Homes priced over $500,000 made up the remaining six percent of sales in April, with 18 of those homes priced over $1 million.

Bexar County reported a total of 1,825 single-family homes sold in April, a 2.5 percent year-over-year decrease. The average price of a home sold in the county was $244,055, a 7.8 percent increase from 2016 while the median was $205,000, a 6.8 percent increase.

In Texas total home sales in April decreased 0.2 percent for a total of 25,990 homes sold. The average price of a home sold in the state was $276,535 and the median was $225,000, both increases from last year.

“Prospective buyers looking to move this summer should prepare by seeking preapproval from a lender, knowing their budget and getting with a REALTOR® to discuss their housing priorities,” said Angela Shields, SABOR’s President and CEO. “They also need to be 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.

San Antonio Home Sales Recap Apr-15 Apr-16 Apr-17
Total Month Sales  2,392 (13% increase)  2,481 (4% increase) 2,427 (2% decrease)
Average Price 2,427 (2% decrease) $234,575 (4% increase) $252,854 (8% increase)
Median Price  $189,900 (7% increase) $199,400 (5% increase) $215,500 (8% increase)

Modest Increase in San Antonio Home Sales February 2017

0217-SABOR-mkt-stats-graphicSan Antonio area home sales picked up in February 2017 with 1,954 sales, a three percent increase over February 2016 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 the average and median sales prices of single-family homes remained steady with the average climbing just three percent to $234,040 and the median increasing six percent to $201,500. Meanwhile, February’s housing inventory was just 3.3 months, remaining below the four month mark now for 18 months straight.

“Though prices here have grown, the increases are steady and sustainable unlike many other large cities in the country,” said Michele Bunting Ross, SABOR’s 2017 Chairman of the Board.

In February, nearly 3,000 new homes were listed and the month ended with 2,059 sales still pending. Homes spent an average of 63 days on the market, which is an 11 percent drop from February last year. The price per square foot of a home grew four percent to $110 and 97.6 percent of homes sold for list price.

The majority of homes sold in the San Antonio area continue to be priced under $200,000 with those sales making up 49.5 percent of the month’s market. Homes priced between $200,000 and $500,000 accounted for 46.1 percent of February’s sales and homes priced over $500,000 made up 4.5 percent of the sales. Of the homes sold over $500,000, nine were priced at $1 million or above.

In Bexar County last month, a total of 1,441 single-family homes were sold for an average price of $220,377. Of the homes sold in the county, 1,262 were existing homes while 179 were new construction properties.

Meanwhile, for the whole state of Texas, total home sales remained consistent with the previous year’s figure, reporting 19,313 sales in February. However, the average price in the state increased 11.1 percent to $269,854 while the median rose 10.3 percent to $215,000.

For San Antonio area home buyers and sellers, SABOR’s President and CEO, Angela Shields offered this advice, “The key is to work with a Realtor. For sellers, they need to make sure they are pricing and marketing their home right to get it sold, and for buyers the expertise of an objective professional can help them navigate one of the largest purchases they’ll ever make. Especially in such a tight market, you’ll want someone who knows the ropes to help you through the process.”

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 Feb-15 Feb-16 Feb-17
Total Month Sales  1,717 (14% increase) 1,890 (10% increase)  1,954 (3% increase)
Average Price $220,202 (8% increase)  $227,812 (4% increase)  $234,040 (3% increase)
Median Price  $187,800 (9% increase) $190,800 (1% increase)  $201,500 (6% increase)
*Percentage increases are based on a year-over-year comparison.

San Antonio Housing Inventory Hits a Six Year Low

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San Antonio Market Statistics, September 2013

According to the statistics for September 2013, the housing inventory in San Antonio hit a six year low in September with just 4.6 months of inventory. Homes listed for sale spent an average of only 70 days on the market and 97 percent of homes sold for the listed price. According to the September 2013 San Antonio Board of REALTORS® (SABOR) Multiple Listing Service Report,  a total of 2,031 homes were purchased during the month, which is a 20 percent increase over September 2012.

“We have seen our inventory getting smaller and smaller all year, making this more of a competitive market,” said Steven Gragg, 2013 SABOR Chairman of the Board. “Low inventory could result in sellers receiving multiple bids on homes located in prime locations or being able to sell closer to their asking price.”

The average price in San Antonio of a home sold in September 2013 was $205,728 and the median price was $168,700. Both median and average prices are seven percent increases from the same month in 2012. Year-to-date the average sales price also increased by seven percent to $207,103 and the median grew by six percent, to $169,900.

The price breakdowns showed a slight increase in September from previous months for homes sold in the low range (below $200,000), with those accounting for 62.24 percent. Homes priced in the mid-range (between $200,000 and $500,000) made up 33.97 percent of sales and homes costing over $500,000 accounted for 3.69 percent of homes sold.

According to the National Association of REALTORS®, the Texas housing market largely avoided the crisis other states experienced over the past few years, crediting Texas’ vibrant job market and growing population. Texas has also seen substantial declines in foreclosure notices filed. In fact, according to Realty Trac, between July and September, Texas experienced a decline of 44.6 percent in foreclosure filings, compared to 29 percent nationwide.

“Interest rates have been at historic lows for some time now allowing many people to take advantage of the opportunity. Although the rates have started to inch up, they still remain below five percent making home buying affordable for a wide range of people,” said Angela Shields, SABOR President and CEO.

San Antonio Home Sales Recap        
    Sep- 2011   Sep- 2012 Sep-2013
Total   Month Sales  1,576       1,686   2,031
Average   Price                      $189,723   $193,026   $205,728
Median   Price                       $154,600   $158,400   $168,700

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 truesarealestate@gmail.com.