Several days ago, the San Antonio Board Of Realtors released a report that detailed the San Antonio housing market in June 2018 compared with June 2017. This month’s report included statistics, quoted experts, and more. Since you probably don’t have time to decipher it yourself, we thought we’d give you the easy-to-read version!
To lay the groundwork, we’ll say this: San Antonio’s real estate market is continuing to grow in unprecedented leaps and bounds. Whether this rapid growth is due to California-to-Texas migration or ex-Austinites looking for a change of pace, the results are undeniable: home buyers are flocking to San Antonio en masse.
Accordingly, June’s real estate statistics are even stronger than last year. In San Antonio, 4,370 new homes were listed, and 3,323 homes were sold this month (a 3% percent year-over-year increase from 2017). As demand has grown, the average sale price has risen 6% to $273,124, while the median also rose 5% to $233,600. Additionally, homes are only spending about 51 days on the market (5 days less than last month).
And just what sorts of homes are selling? Most of the homes bought and sold in June 2018 were between 200,000 and $500,000 (about 57%), while nearly 36% were under $200,000 and nearly 7% were over $500,000.
But what about on a larger scale? According to Lorena Peña, SABOR’s 2018 Chairman of the Board: “While other states may see high jumps or low drops in sales figures, we are fortunate these numbers remain fairly steady here which is a good indicator of a stable market.”
In Bexar County as a whole, there was a 0.4% decrease in total homes sold, while the average and median prices rose 5% each (making the average $261,253 and the median $221,000). Meanwhile, in the State of Texas, home sales in June decreased nearly 1% (for a total of 33,004 homes sold)...however, this number is still nearly 600 greater than homes sold last month.
Statewide, the average price of a home sold was right around $303,000, and the median price was $245,000 (both just under 5% increases from last year). On average, homes sold in 50 days for $129 per square foot.
Overall? The San Antonio real estate market is only getting hotter...which means that sellers will make a fabulous profit and buyers are ripe to capitalize on increased value. It’s a good time to buy and sell a home in San Antonio, TX.
The San Antonio Board of REALTORS® is the largest professional trade organization in San Antonio and represents over 10,500 REALTOR® members. SABOR’s membership services nine counties including Bexar, Atascosa, Frio, Karnes, Kendall, LaSalle, McMullen, Medina, and Wilson. SABOR is one of over 1,200 local boards and 54 state and territory organizations of REALTORS® nationwide that make up the National Association of REALTORS® (NAR).