The Rise of Home Prices in the San Antonio Region

Both the median and average prices in San Antonio for single family residential homes continued to rise in April with six percent and five percent gains respectively, according to th eMultiple Listing Service report by the San Antonio Board of REALTORS®

The number of sales for the month was up 21% from last year with 1,998 homes sold and a reported 2,149 sales still pending. “With mortgage rates and home prices remaining low, buyers can easily find something within their means without having to compromise,” said Steven Gragg, 2013 SABOR Chairman of the Board. “The rise in home sales each month shows the confidence consumers have in their buying power.”
According to the National Association of REALTORS®, many metropolitan areas across the nation are
experiencing a seller’s market, which is a market defined by a larger demand than supply.Metropolitan area median home prices continued to rise in the first quarter, with the national gains showing the best year-over-year performance in over seven years.
San Antonio’s housing inventory holds steady at 5.2 months where it has hovered since February.Homes sold in the price range under $200,000 accounted for 62.8% of total homes sold and those between $200,000 and $500,000 accounted for 33.8%. Homes priced at $500,000 and more made up 3.5% of the total sales for April. Homes spent 84 days on market with 96.8% being sold for list price.
“San Antonio was recently ranked by Forbes as the number 12 city in the country for jobs and job creation, citing its 18.4 percent growth in jobs since 2001. This steady growth along with the city’s affordability and diverse culture makes San Antonio a unique and desirable place to call home,” said Angela Shields, SABOR President and CEO.

Source:San Antonio Board of Realtors