Home sales during the first three quarters in the San Antonio area finished strong with 11 percent more sales than this time last year, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. The average price for the first nine months of 2015 was $232,931, a seven percent year-over-year increase while median price shot up eight percent to $194,100. Days on market remained low with just 59 days and the price per square foot climbed six percent to $105.
“Sales and price growth continue to show increases in the city of San Antonio as well as in surrounding areas,” said Mary Ann Jeffers, SABOR’s 2015 Chairman of the Board. “In San Antonio alone during September, sales increased five percent while the number of sales in Boerne, Helotes, Leon Valley and Terrell Hills increased at least 50 percent year-over-year.”
For the month of September, days on market in the San Antonio area were 52 and months of inventory remained low with 4.0 months. More than 97 percent of homes sold for list price and the month ended with 1,979 sales still pending.
Homes priced under $200,000 accounted for 53 percent of the sales in September in the San Antonio and surrounding areas. Homes priced between $200,000 and $500,000 made up nearly 42 percent of sales and homes priced over $500,000 accounted for nearly five percent of the month’s sales, with 13 of those priced over $1 million.
Of the 1,086 homes sold in just the city limits of San Antonio during the month, 1,022 were existing homes while 64 were new construction. The average sales price of an existing home was $198,331, a 9.6 percent year-over-year increase. The average sales price of a new construction home was $293,358, a 25.7 percent increase from 2014. In Bexar County, 6.7 percent more homes sold over September of last year with median price in the county increasing 5.3 percent.
Meanwhile, Kendall County reported a 44 percent increase in sales and Wilson County also reported an increase in sales in September with 4.8 percent more than last year. “Our summer buying season was one of the most active we’ve seen and now it’s starting to wind down,” said Angela Shields, SABOR’s President and CEO.
“Nevertheless, there is still plenty for buyers to choose from and the good news for sellers is buyers during this time of year are typically more serious about making a purchase.” Texas as a whole also experienced several increases in sales and prices. A total of 25,975 homes were sold in the state during September, an 8.6 percent increase from 2014. Median price rose six percent to $196,000 while average price reported a 3.4 percent year-over-year increase to $248,329.
Info and graph courtesy of: San Antonio Board of REALTORS®