Our San Antonio Market just keeps getting better every month leading into the summer, and May 2014 shows some significant statistics. May showed the highest average sales price ever, with the price of $225,114. Now, that’s a 4 percent increase from May last year. The median price of a home for May was $183,800, and that was also a 4 percent increase from 2013.
May was the first time this year that there was a slight decrease in total number of homes sold in the month at 2,355, which was a 6 % drop. However, year to date, the total sales are still higher than this same time last year for a total of 9,179 homes sold since January 2014.
May’s report shows 65 days on the market which is a 17% drop from May 2013, and the lowest in years. Our San Antonio Housing inventory remains at 4.7 months, which supports the strong seller’s market that we have been experiencing since January 2014. Buyers need to be prepared for multiple offers in many of our communities that have great looking homes on the market. The average cost per square foot for May was $102, which is a 5% increase from May last year.
57.07 percent of homes sold in May were priced at $199,000 or below. 38.51% of sales were in the $200,000 to $500,000 range, and homes priced above $500,000 made up the remaining 4.33% of sales.
Texas was ranked No. 2 on the Forbes list of best states to make a living, and this high ranking was earned due to a winning combination of No State Income Tax, cost of living, and low unemployment. San Antonio has a number of factors that contribute to support the long-term investment of home ownership, including job growth and affordable home prices.
If you or someone you know are thinking about buying or selling in the San Antonio market area, call Jerry today at 210-789-4216, or visit my website at Homes For Sale in San Antonio for more information.
Your Military Relocation Specialist "Serving You For All Your Real Estate Needs"
Jerry Newman, REALTOR®
US Army Retired
1802 NE Loop 410 Ste 520
San Antonio, TX 78217
Helping and Serving the real estate needs of buyers and sellers in the Greater San Antonio, Bexar County, and all the surrounding areas.
Join Active Rain Today! Get Your FREE Membership Account, Then start blogging like a Professional