San Antonio Board of REALTORS® has posted the sales results for the first quarter of 2015. Two huge take-aways:
1. 99.9% of sellers in March were able to sell their homes for list price.
2. Average prices increased 8% and median prices increased 9% in first quarter 2015 v. first quarter 2014.
Here is the article:
Housing Market’s First Quarter Shows Significant Increases
Inventory remains low while prices continue to climb in San Antonio, according to figures in the March 2015 Multiple Listing Report by the San Antonio Board of REALTORS® (SABOR). Months of inventory remained consistent with previous months with March reporting just 3.6 months. Total sales for the first quarter rose 12% from the same quarter in 2014 for a total of 5,327 homes sold while average and median prices increased by 8% and 9% respectively.
“For several months now we have seen our inventory remain under four months and days on the market continue to decrease,” said Mary Ann Jeffers, SABOR’s 2015 Chairman of the Board. “Anyone looking to buy should be prepared to move fast. Getting pre-approved and working with a REALTOR® can make the difference when navigating such a competitive market.”
According to the National Association of REALTORS®’ pending home sales index, home sales are expected to post further gains across the country. The pending home sales index in February surged 12% year-over-year and sales of newly built homes in February reached its strongest pace in seven years.
In March, sales in San Antonio skyrocketed 17% for a total of 2,202 homes sold. Average and median prices as well as price per square foot all increased 7% from the previous year while days on the market dipped to 72 days, a 5% drop from last year. The month reported 3,103 new listings and ended with 2,298 sales still pending.
Higher end homes have seen a surge in sales for some time, and March’s sales of homes priced over $500,000 jumped 1% from February for a total of 4.54%. Homes priced between $200,000 and $500,000 accounted for 40.83% of the sales in March and homes under $200,000 made up 54.59% of the market.
“With tight supply and high demand for homes, 99.9% of sellers in March were able to sale their homes for list price,” said Angela Shields, SABOR’s President and CEO. “But even though the market is favorable to seller’s right now, we still continue to see a steady flow of houses come on the market which is good news for buyers.”
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