SAN ANTONIO – Home sales sizzled their way out of spring as May house hunters snatched up 3,608 homes, a 10% spike over the same time last year.
“I call it the mother of all real estate months,” real estate agent Monique Bordelon said.
An 1,800-square-foot home she listed 14 days ago is already under contract, a sign of busy times.
“We had three offers, 14 showings, two open houses and copious numbers of people who just came through,” she said.
Spring is prime time for house shopping, and as the latest numbers from the San Antonio Board of Realtors reveal, San Antonio’s attractiveness is showing.
“San Antonio has continued to be an attractive place for businesses and families to relocate to due to our affordability and quality of life,” SABOR President and CEO Gilbert S. Gonzalez said in a release.
Prices continued to inch up as well last month. Of the existing homes that sold, the median price was $238,000, a 3% bump over the same time a year ago.
Low mortgage rates are helping to fuel sales, as well.
The local market favors sellers because inventory is low, making house hunting competitive.
Bordelon advises buyers to have their lender approval letter in hand before they start looking.
“You have to bring your A-game,” she said. “That letter is very important. Second is, if you come in asking for a whole bunch of concessions and it’s really a good house, you’re not going to get it. “
But buyers, take heart. SABOR says in May there were some 10,000 active listings available, 1,000 more than May of last year.