San Antonio’s October 2014 Market Stats Explained

Several days ago, the San Antonio Board Of Realtors released a statistics report that compared the San Antonio housing market in October 2014 to the housing market in October 2013. The results were incredible! San Antonio’s housing market is consistently growing stronger. Homes have been selling faster for better prices for the last several years, with October 2014 being no exception.

As stated earlier, homes are selling faster…as much as 11% faster than last year. Homes generally only stuck around on the market for about 62 days, while the average price rose to about $210,000 ($15k higher than 2012!). The market boasts only 4.1 months of inventory, meaning that it would only take about 4 months to sell all the homes currently on the market. SABOR’s Chairman Missy Stagers explained that these numbers are “certainly good news for sellers…the time it takes to sell a home has dropped considerably while prices continue to beat those seen in previous years.”

A wide array of home markets in San Antonio are thriving. The luxury market has seen a 10% increase, while mid-range homes have seen the largest growth. Homes in the $200,000-$250,000 range are booming, followed closely by those in the $300,000-$400,000 segment.

SABOR’s President and CEO Angela Shields pointed out that San Antonio’s housing market has consistently shown growth, even in historically slower times of the year. like October. She explained that the thriving military population and a steady increase in jobs in the San Antonio area ensure that the market thrives with keen buyers and sellers. It’s a good time to own a home in San Antonio! 

Infographic courtesy of SABOR

Pre-approval:An assessment given by the lender that investigates the borrower

Mortgage:A contract that represents the debt owed by the borrower to the lender for the money borrowed to purchase a property.

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