Fall Buying Season in San Antonio Kicks Off Strong

San Antonio’s fall buying season kicked off strong in September with a total of 2,280 homes sold during the month – a 14 percent increase from last year, according to the September 2014 Multiple Listing Service report by the San Antonio Board of REALTORS® (SABOR). The average and median prices also showed increases as they have all year, with the average rising to $220,366 and the median to $184,700, a seven and nine percent increase respectively. The month ended with 1,757 pending sales.

“This year’s days on market have been some of our lowest in years. September reported just 63 days which is six fewer than September of 2013,” said Missy Stagers, SABOR’s 2014 Chairman of the Board. “Months of inventory was only 4.3 months which continues the trend we’ve seen for nearly two years in which inventory has remained below six months.”

During September, homes priced over $500,000 accounted for nearly a percentage more of total sales than they did in 2013 with those homes making up 4.4 percent of the month’s numbers. Homes priced between $200,000 and $500,000 accounted for 39.4 percent of sales (5.4 percent more than last year) and homes under $200,000 made up the majority of sales with 56.1 percent (six percent less than 2013).

According to Fannie Mae’s September 2014 National Housing Survey, the share of consumers who say now is a good time to purchase a home rose to 68 percent in September, a four percentage point increase from August. The percentage of those who reported now is a good time to sell grew to 39 percent. In San Antonio, this is evident in the increase in homes sold in 2014 compared to 2013, with a total of 18,840 homes sold so far this year. That is a four percent increase from the same period in 2013.

“All year we have seen increases over the previous year in terms of prices and total sales, and September is no different,” said Angela Shields, SABOR’s President and CEO. “While the spring often brings out shoppers who may just be looking, we expect to see more serious buyers in the fall."