This month’s San Antonio Real Estate Newsline posted this story on the status of our market.
According to the April 2014 Multiple Listing Service report by the San Antonio Board of REALTORS® (SABOR), April had the lowest days on market since last summer, with 71 days, a 15 percent drop from April 2013. Total sales for the month climbed seven percent from last year to 2,133 and the month ended with 2,103 pending sales. The month reported just 4.5 months of inventory available.
“Year-to-date our total sales increased five percent to 6,826,” said Missy Stagers, SABOR’s 2014 Chairman of the Board. “We continue to see record numbers of homes listed and sold all over the city, and such low days on market indicate how quickly many homes are moving.”
According to Texas Association of REALTORS®’ Texas Quarterly Housing Report, 55,322 single-family homes were sold in Texas in the first quarter of 2014, which is 1.92 percent more than the same quarter of 2013. During the same time frame, the median price for Texas homes was $172,900, up 9.43 percent from the first quarter in 2013, and the average price increased 10.42 percent to $225,337.
San Antonio continues to be an affordable Texas city. Year-to-date San Antonio’s median price of a home sold was $170,900, a seven percent increase from April 2013 and lower than the median for the rest of Texas. The average price was $206,492, a six percent year over year increase.
“We had more new listings in April 2014 than we’ve had since April 2010,” said Angela Shields, SABOR’s President and CEO. “Mortgage rates remain low and with many families moving during the summer, we expect to see sales figures pick up even more.”
Last month San Antonio’s Real Estate Newsline posted this story on the status of our market:
According to the March 2014 Multiple Listing Service report by the San Antonio Board of REALTORS® (SABOR), the month’s average sales price was $211,247, a 10 percent increase from March 2013. The median price rose eight percent, to $172,400 and the month reported 1,879 total sales, a one percent increase from last year.
“Our strongest price range has always been homes priced under $200,000,” said Missy Stagers, SABOR’s 2014 Chairman of the Board. “In March, we had 61 percent of homes in this range. Another 35 percent were in the $200,000 and $500,000 bracket and four percent were priced over $500,000.”
CNN Money recently ranked San Antonio number five on its list of the top 10 fastest growing cities in the nation. The report cited San Antonio’s diverse economy and low unemployment rate.
Year-to-date, the San Antonio numbers continue to show increases. As of March 2014, the average home price rose six percent from 2013 to $203,905 and the median price increased seven percent to $168,100. The total number of sales as of March 2014 was 4,709, a four percent increase over last year.
“Our housing inventory has remained under six months for over a year with March reporting just 4.3 months,” said Angela Shields, SABOR’s President and CEO. “We encourage anyone looking to buy or sell in this market to rely on a REALTOR® who can help them understand what is happening in their part of the city and guide them in making the best decision for their future.”
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Press Release from the San Antonio Board of REALTORS®
San Antonio’s housing inventory shrank to 4.2 months in November, a number last seen in December 2006. All year the San Antonio inventory has shown decreases, matching numbers not seen since the housing booms of 2005 and 2006. Overall, the city has sold 21,607 homes this year as of November, which is a 17 percent increase over 2012 and the highest year-to-date number sold since 2007. According to the San Antonio Board of REALTORS® Multiple Listing Service, the year-to-date average and median prices have increased as well with the average price rising to $207,650 and the median to $170,200, a seven and six percent increase, respectively.
The average price of a single-family residential home in November 2013 experienced a 10 percent increase from the same month last year, increasing to $214,677. The median price also increased, by six percent, to $172,100 and the total sales saw a three percent year-over-year increase to 1,634.
“Interest rates remain low making homeownership more affordable,” said Steven Gragg, SABOR’s 2013 Chairman of the Board. “With new businesses and jobs coming to the city, more people are looking to purchase a home and settle down here.”
The Milken Institute recently ranked San Antonio 12th on its list of the top 25 “Best-Performing Cities” report which determined placement based on a city’s job creation and retention. San Antonio was one of seven Texas cities that made the list.
This year also showed a steady market in homes priced over $500,000. These sales accounted for 4.47 percent of the total sales for the month of November. Twelve of those homes sold were over one million dollars – twice the amount sold in November of 2012.
“It’s interesting to see the growth in the luxury home market this year,” said Angela Shields, President and CEO of the San Antonio Board of REALTORS®. “This year we’ve had 95 homes in that price range sold, compared to 73 during this same period last year.”
Meanwhile, homes in the mid-range (those priced between $200,000 and $500,000) also showed an increase from last year, with those accounting for 34.21 percent of sales. Homes priced below $200,000 made up 61.14 percent of the total homes sold this month.