The summer home buying season is here! The 2,807 total home sales in the San Antonio area was an increase of just over 13% from April 2016 to May 2016...a 10% increase as compared to the same period last year. No surprise given the population growth of the San Antonio metropolitan area from July 2014 to July 2015, which was 51,285. That's about 141 people per day moving to the San Antonio metropolitan area making New Braunfels the second fastest-growing city in the U.S.
The San Antonio Board of REALTORS® (SABOR) reported the average price of single family homes in May 2016 was $249,024, a 2% increase over the same period last year. That is still below the state’s average price of $271,213 making San Antonio one of the the most affordable markets in the United States.
In the San Antonio area, homes priced under $200,000 made up 46.9% of the homes sold in May. Homes priced between $200,000 and $500,000 accounted for 47.6% of the homes sold and homes priced over $500,000 made up 5.5% of the market. The largest share of homes last month were priced between $200,000 and $250,000, which made up 18% of the market. A total of 15 homes sold were priced over one million dollars.
May 2016 San Antonio Market Statistics, San Antonio Board of REALTORS®
About Liz Petroff
Liz Petroff is a full-time, dedicated real estate professional. 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. Contact Liz with your real estate questions.