San Antonio January home sales outpace Texas numbers

Existing home sales up 2 percent over previous year

By Marilyn Moritz - Reporter, Bill Caldera - Photojournalist

SAN ANTONIO - January home sales skipped hibernation.

Area sales perked up 2 percent last month compared to the previous January, according to figures from the San Antonio Board of Realtors, or SABOR.

While 2 percent may not sound like much, it is a marked difference from other markets. 

Texas’ January home sales were down 5 percent, while Houston recorded an eight percent drop and Dallas-area sales were down about 10 percent compared to the same month in 2018.

What gives?

“The difference in San Antonio to other major markets is our affordable housing right now,” said Grant Lopez, SABOR chairman. “Prices are still going up in San Antonio, but we’re seeing them go up at a steady pace instead of skyrocketing pace, which is happening in other marketplaces.”

The median prices of existing homes sold locally was $217,000, a 3 percent boost over the previous year.

While summer has the reputation for being the best time to sell because families with school children are looking, Lopez said spring has its perks.

“It’s that sweet spot for a seller who has a lot of buyer activity on their home, but they don’t have a lot of seller competition,” he said.

For buyers thinking of taking the plunge, he suggested they be prepared to act quickly because inventory remains tight.

Copyright 2019 by KSAT - All rights reserved.