As we begin to see the temperatures drop, so has the housing inventory for the San Antonio area continued to plunge. The San Antonio Market Report for October 2013 showed a stunning low of 4.4 months inventory. According to the San Antonio Board of REALTORS®(SABOR)’s MLS Report, a total of 1,839 homes were sold during the month, which was an 11 percent increase when compared to October 2012. Those homes spent an average of 69 days on the market.
Steven Gragg, 2013 SABOR Chairman of the Board, has stated that “ we have seen prices and sales all year show year-over-year increases, demonstrating San Antonio’s economic strength. Jobs are being added, interest rates remain low, and both buyers and sellers are able to find success in this market”.
Homes.com in a resent report in late October ranked San Antonio-New Braunfels area as first in the state for recovering fully any price decline from the recession. Houston-Sugar Land ranked second, and Austin-Round Rock-San Marcos came in third.
The average price of a residential single family home sold in San Antonio for October was $205,680, and the median price was at $168,800-both of which were a six percent increase from the same month a year ago. Year to date, the average price rose seven percent to $206,969, and the median priced climbed six percent to $169,800.
Price breakdowns for October continued to hold steady from the previous month’s numbers. Homes sold in the low range (below $200,000) accounted for 62.82 percent, and homes price in the mid-range (between $200,000 and $500,000) made up 33.44 percent of the sales. Homes costing over $500,000 accounted for 3.75 percent, which was a very slight increase from September’s 3.69 percent.
This is a nice indication that homes in all these price ranges are doing very well in the San Antonio market area, and buyers and sellers are taking advantage of these sales as our inventory continues to decrease. If you are thinking about buying or selling in the Greater San Antonio area, call 210-789-42176 Today for your personal consultation, or visit my website at Homes For Sale in San Antonio, TX.
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Jerry Newman, REALTOR®
US Army Retired
Military Relocation Professional
900 NE Loop 410 Suite D303
San Antonio, TX 78209
Helping and Serving the real estate needs of buyers and sellers in the Greater San Antonio, Bexar County, and all the surrounding areas.
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