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San Antonio home sales up 6 percent, SABOR report says

Over half of homes sold priced between $200K-$500K

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SAN ANTONIO – Home sales in the San Antonio area have continued on a steady year-over-year growth, with a 6 percent increase from last year, according to a report from the San Antonio Board of Realtors.

The Multiple Listing Service Report shows there was a total of 2,981 homes sold in July, with more than half of them priced in the mid-range, between $200,000 and $500,000. The report shows homes priced under $200,000 made up nearly 43 percent of the homes sold.

“This is the fourth consecutive month that 50 percent or more of the homes sold have been in the mid-range of prices,” Yvette Allen, SABOR’s 2017 chairman of the Board, said. “However, despite the rise in home costs, buyers have not been deterred from the market, and we continually see them take advantage of the low interest rates to get a little more house for their money.”

The average price of a home in July was $257,540, a 4 percent increase from last year, at a median price of $218,000, while the price per square foot of a home rose 5 percent to $117, SABOR said.

Additionally, days homes were on the market plummeted 11 percent to 49 days.

In other areas of Texas, prices of homes continued to climb as well with median prices at:

  • $349,865 in Travis County
  • $215,000 in Harris County
  • $235,000 in Dallas County
  • $207,200 in Bexar County

“Typically, inventory below six months favors sellers, while inventory between six to eight months is considered balanced," SABOR President and CEO Angela Shields said. "In the San Antonio area, we have remained under four months of inventory for the last two years and under six months for nearly five years. With a market that moves as quickly as this one often does, it’s important that those looking to buy a home work closely with a realtor who can help them navigate the process and find the home that’s right for them.”

 

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