Home sales continued to outperform 2014 in the San Antonio area with August reporting a five percent increase for a total of 2,551 homes sold, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. Average sales price reported a seven percent increase to $237,168 and median price rose eight percent to $197,100. Days on market climbed one day from last month to 50 and months of inventory remained steady at 4.0 months. To date, 18,576 homes have been sold in the San Antonio and surrounding areas. This is a 12 percent increase from 2014.
According to the report, homes priced under $200,000 accounted for 51.2 percent of the sales in August. Homes priced between $200,000 and $500,000 made up nearly 44 percent of sales and homes priced over $500,000 accounted for nearly five percent of the month’s sales, with 11 of those priced over $1 million.
“We continue to see incredible growth in our area. In the city of San Antonio alone, 1,136 homes sold which is more than a seven percent increase from 2014,” said Mary Ann Jeffers, 2015 Chairman of the San Antonio Board of REALTORS®. “However, we also saw increases in other areas including Alamo Heights, Shavano Park, Live Oak, Fair Oaks Ranch, Converse, Cibolo, Schertz and Castle Hills.”
Of the 1,136 homes sold in just the city of San Antonio, 1,093 were existing homes while 43 were new construction. The average sales price of an existing home was $203,239, a nine percent year-over-year increase. The average sales price of a new construction home was $240,190, a 1.1 percent decrease from 2014.
“We are right on par with the rest of the state in terms of sales and price growth,” said Angela Shields, SABOR’s President and CEO. “Texas reported a five percent growth in total sales for August as well as a six percent increase in average sales price and more than seven percent in median sales price.”
Bexar County also experienced considerable increases with 6.5 percent more homes sold in August 2015 than the same month last year for a total of 1,931 sales. Meanwhile, Kendall County reported a 28 percent increase with a total of 55 sales and Medina County also reported strong sales in August with a total of 38, a 31 percent increase from last year.