According to a statement issued Wednesday by the San Antonio Board of Realtors, the Alamo City saw the biggest increase in five years of homes sold during May.
Compared to May 2012, that makes a 31 percent increase in sales.
On top of that, compared to this time last year, the year-to-date number of homes sold rose 19 percent.
“The summer months are typically the busiest time of year in real estate, and the May numbers prove that consumer confidence is high and the market is continuing to thrive,” said Steven Gragg, 2013 SABOR chairman. “Both buyers and sellers are reaping the benefits of an extremely healthy real estate climate in San Antonio.”
According to the statement, not only are sales going up, the average price of a home has gone up 10 percent since May 2012.
In addition, they are expected to continue rising in 2013 and 2014.
“We saw 59.2 percent of homes sold priced under $200,000, which is typical. But we also had a jump in sales of homes over $500,000 with those transactions accounting for nearly five percent of the sales instead of their usual three to four percent,” said Angela Shields, SABOR president and CEO. “With our city’s continued job growth and interest rates still low, it’s no surprise we are seeing people able to make their money go further, and take advantage of our affordable market.”