For the first time since May 2014, total home sales in the San Antonio area declined compared to the same period the prior year. The 2,850 homes sold during the month of July 2016 was a 2% decrease verses July 2015 total home sales. Despite the decline in sales, the median home price was above the $200,000 mark for the third month in a row at $211,900. Just over 50% of the homes sold in July were priced between $200,000 and $499,999.
The San Antonio Board of REALTORS® (SABOR) reported 3.9 months of inventory, 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. The last time the San Antonio housing market saw at least six months of inventory was in November 2012 according to SABOR's press release. Dotzour also suggested that more job growth, low interest rates, and increasing home prices suggest San Antonio housing is in good shape for 2016.
“The San Antonio area continues to be one of the most affordable markets in Texas,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board. “For example, the median sales price of a home in Bexar County in July was $200,000 while the median was $335,000 in nearby Travis County and $219,250 in Harris County.”
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.
July 2016 San Antonio Market Statistics, San Antonio Board of REALTORS®