The San Antonio Board of REALTORS® (SABOR) reported another strong month for San Antonio home sales for July 2015. Sales of single family homes continued its upward trend totaling 2,978 homes sold year-over-year, an 18.6 percent increase during the same period last year. Average home price in July was $240,469 making this the third month in a row where average home price was above $240,000. This is an increase of 4.7 percent over July 2014.
Inventory continues to increase, but remained low at 4.1 months. Although there were more homes available, they remained on the market an average of only 48 days.
Median sales price increased 6.4 percent to an even $200,000. Realtor.com recently reported a 10.5 percent increase year-over-year in the median list price in the San Antonio market from July 2014 to July 2015.
“Not only is the San Antonio area reporting strong numbers, but the whole state has experienced immense growth as well,” said Angela Shields, SABOR President and CEO. “Texas reported 169,757 homes sold since January, a 5.8 percent year-over-year increase with total dollar volume up 12.4 percent. We continue to be one of the fastest growing states due to our affordability, strong economy and warm weather.”
SOURCE: San Antonio Board of REALTORS®
Whether you're buying or selling a home in a this market, it is important to be prepared. A sellers' market indicates that there are far more buyers than sellers, and the lack of inventory can create challenges for both buyers and sellers.
About Liz Petroff
Liz Petroff is a full-time, dedicated real estate professional. 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.