Home prices continue to climb in San Antonio
San Antonio Board of Realtors reports six percent jump in median sale prices
SAN ANTONIO - The San Antonio Board of Realtors reported a six percent jump in the median sale price for residential homes in April 2013, compared to April 2012.
The average price climbed five percent, and nearly 97 percent of homes sold at list price, the organization reported.
Real estate agent Doc Stephens said homes are selling quickly, catching both buyers and sellers by surprise.
SABOR reported that 21 more homes sold in April 2013 compared to the previous year.
"We tell the buyers if we go look, 'You need to be prepared. If you find what you like, make an offer.' We're back in a market where we're getting multiple offers on good listings," he said. "We've had three listings in the last six months that have sold in less than a week, and the sellers were all, 'Well, you told me to pack, but I didn't believe it.'"
Stephens said current conditions with interest rates still near historic lows, and prices climbing again, is putting more move-up buyers in the market.
"We're seeing more and more people finally get to a place where they have enough equity to sell their homes and to make that move," he said.
First-time buyers are also flocking to the market.
According to SABOR, nearly 63 percent of homes sold last month sold for less than $200,000.
Copyright 2013 by KSAT.com All rights reserved. This material may not be published, broadcast, rewritten or redistributed.