As we head into the summer season San Antonio's real estate market is heating up! With both the average and median sales prices increasing eight percent over last year’s figures as inventory continues to tighten across the metro area we expect prices to continue to rise. The numbers seem to indicate sellers are beginning to list at a higher clip as we near summer and that should help ease the buyer influx, but we should expect to see prices heat up along with our weather! Below are some of the crucial numbers to take into account.
Homes spent just 59 days on the market in April, consistent with March’s duration and a day less than this time last year. The price per square foot increased seven percent to $115 and the month ended with 2,538 sales still pending.
In April, half the homes sold were priced between $200,000 and $500,000 while 44 percent were priced under $200,000. Homes priced over $500,000 made up the remaining six percent of sales in April, with 18 of those homes priced over $1 million.
Bexar County reported a total of 1,825 single-family homes sold in April, a 2.5 percent year-over-year decrease. The average price of a home sold in the county was $244,055, a 7.8 percent increase from 2016 while the median was $205,000, a 6.8 percent increase.
In Texas total home sales in April decreased 0.2 percent for a total of 25,990 homes sold. The average price of a home sold in the state was $276,535 and the median was $225,000, both increases from last year.
Statistics and graphic courtesy of The San Antonio Board of REALTORS®