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.”
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.”