Total home sales in the San Antonio area posted the second highest number of sales so far during 2016 with 2,900 homes sold during the month of August 2016. This was also a 13% increase compared to last August. “July ended with over 2,400 transactions still pending which created a boost in our August sales,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board.
Median home price remained virtually unchanged from July at $211,800, but was above the $200,000 mark for the fourth month in a row. To date, over 1,200 more homes have been sold than the same time last year.
The San Antonio Board of REALTORS® (SABOR) reported 3.8 months of inventory in August, which still characterizes a seller's market. In January of this year during the 2016 Housing Forecast, Texas economist Dr. Mark Dotzour reminded us that 6.5 months of inventory represents a balanced housing market. Accoridng to SABOR, the last time the San Antonio housing market saw at least six months of inventory was in November 2012. Dotzour also suggested that more job growth, low interest rates, and increasing home prices suggest San Antonio housing is in good shape for 2016.
There are many reasons why companies should consider locating or expanding in San Antonio. Former Brooks Air... https://t.co/cDNbPBijqj— San Antonio EDF (@SanAntonioEDF) September 13, 2016
About Liz Petroff
Whether you're buying or selling a home in a this market, it is important to be prepared. Liz is available via email or by phone at (210) 464-8100. Liz has helped many buyers and sellers – first-time, relocating, downsizing – through every aspect of the transaction from financing, to property search and valuation, navigating contracts, and negotiating in your best interest.
August 2016 San Antonio Market Statistics, San Antonio Board of REALTORS®