The housing market in San Antonio continues to show signs of remaining a sellers market with inventory decreasing and prices and sales up again in August. August showed the lowest average days on market for listed homes this year at 48 days.
Total homes sold in August rising two percent from last year for a total of 2,984, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. The average price of a home sold in the area was $252,613 while the median was $218,400, both three percent year-over-year increases.
Days on market was not the only indicator of a continuously tight market. Months of inventory has remained below four months, at 3.6 in August, for nearly two years. However, despite record sales homes continue to come on the market with 3,768 new listings available in August and 9,780 properties active. The month ended with 2,260 sales still pending.
Meanwhile, homes priced between $200,000 and $500,000 remained the dominant price range for buyers in August with this segment accounting for 52 percent of the month’s transactions. Homes priced under $200,000 made up 42.6 percent of the sales in August and 5.3 percent of the homes sold last month were priced over $500,000.
Info Courtesy of the: SABOR Multiple Listing Service Report: Home Sales Recap
|August 2015||August 2016||August 2017|
|Total Month Sales||2,561 (5% increase)||2,918 (13% increase)||2,984 (2% increase)|
|Average Price||$236,259 (7% increase)||$245,537 (4% increase)||$252,613 (3% increase)|
|Median Price||$198,300 (8% increase)||$211,900 (7% increase)||$218,400 (3% increase)|
*Percentage increases are based on a year-over-year comparison.