San Antonio 2015 Housing Market Results

The San Antonio Board of REALTORS® has posted the January-December 2015 Housing Market Results and here are the most important stats:

-27,154 homes sold. 9% increase over the previous year.

-Average Sales Price was $231,976. 6% increase over the previous year.

-Average of 60 Days on Market. 12% decrease over the previous year.

San Antonio continues to be in a Seller’s Market.

San Antonio’s 2015 First Quarter Housing Market was STRONG

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.”

Housing Inventory in San Antonio Hits Six Year Low

Homes that are priced well and in good condition are flying off the shelves. Multiple offers and short days on the market are now the norm. This article was posted in Real Estate Newsline.

Housing inventory in San Antonio hit a six year low in September with just 4.6 months of inventory. Homes spent an average of only 70 days on market and 97 percent of homes sold for list price. According to the 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 from September 2012.

“We have seen our inventory getting smaller and smaller all year, making this more of a competitive market,” said Steven Gragg, 2013 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.”

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.

The average price in San Antonio of a home sold in September 2013 was $205,728 and the median price was $168,700, both seven percent increases from the same month in 2012. Year-to-date the average 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 price 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.

“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.