Sunday, November 16, 2014

SABOR Releases October 2014 San Antonio Real Estate Market Statistics

According to the San Antonio Board of Realtors, San Antonio housing inventory remains low and average days on the market for listed homes has dropped again this October. The tight housing inventory kept home prices up while days on market fell 11 percent according to the October 2014 Multiple Listing Service report.

The average price of a home sold in October saw a year-over-year increase of three percent to $210,887 while the median price rose four percent to $176,200. The month ended with 2,164 total sales and 1,755 sales still pending. The San Antonio months of inventory are down to just 4.1 and homes in October only spent an average of 62 days on the market.

According to research from the National Association of Realtors, across the country homes that sold for one million dollars or more rose by eight percent th
is year, while homes at every other price point dropped by four percent. Here in San Antonio, 91 homes have sold over one million dollars since January, compared to 83 last year. In fact, the luxury home market has increased in 2014 with homes priced over $500,000 accounting for approximately 4.3 percent of sales this year (compared to 4.0 percent during the same period in 2013).

However, the largest growth has been seen in the homes priced in the mid-range. In October, the largest percentage of sales occurred between $200,000 and $250,000 with those making up 14.5 percent of sales. The second most popular range was homes priced between $300,000 and $400,000 which accounted for 10.4 percent of sales.

“Despite heading into the winter months which traditionally can be a little slower, we continue to see record numbers of sales and prices this season,” said Angela Shields, SABOR’s President and CEO in the organization's monthly market statistics press release. “We never really see San Antonio slow down. With our military families moving in and out of the city year round as well as a steady growth in jobs, there are always houses on the market and buyers eager to find their new home.”

San Antonio Home Sales Recap - October 2014
Total Month Sales: 2,164 (16% increase)
Average Price: $210,887 (3% increase)
Median Price: $176,200 (4% increase)

What does this mean to the average homeowner? Well, if you've been considering a sale but felt like you had to wait until Spring, that might not be true. With inventory at its lowest right now, the time to go on the market for maximum exposure is at hand. And if you're a buyer, right now it's more important than ever to have the help of a buyer's agent as you navigate this competitive market. To talk about current market conditions and what they mean for your unique situation, call the Claus Team at 210.566.6355 TODAY!

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