September Market Report, San Antonio Board of REALTORS
August’s days on market plummeted to just 60 days, a 14 percent decrease from August of last year according to the August2014 Multiple Listing Service report by the San Antonio Board of REALTORS (SABOR). Months of inventory also stayed low with just 4.5 months.
“As we transition to the fall, many homes continue to move quickly due to the market’s strength and stable inventory,” said Missy Stagers, SABOR’s 2014 Chairman of the Board. “In fact, our months of inventory is well below the national supply of 5.5 months.”
San Antonio’s average price reached $222,993, a six percent increase from last year, and the median rose to $183,300, a five percent increase from August 2013. The month ended with 1,964 pending sales.
Of the 2,468 homes sold in August, 4.5 percent were priced over $500,000, with 0.5 percent of the total homes sold priced over $1 million. Homes priced between $200,000 and $500,000 accounted for 38.7 percent of sales and homes under $200,000 made up the majority of sales with 56.9 percent.
According to the 2014 Texas International Homebuyers Report released by the Texas Association of REALTORS® earlier this month, Texas ranked as the third largest state in the U.S. for international home sales with $11.06 billion in sales from international buyers between March 2013 and March 2014. In fact, San Antonio was one of the five top searched for cities by Mexican homebuyers on Realtor.com.
“Our economy continues to remain healthy, causing international buyers to see Texas, and San Antonio in particular, as a desirable location to relocate or buy a vacation home,” said Angela Shields, SABOR’s President and CEO. “With the medical and military facilities in San Antonio, job growth continues to soar and drive a steady housing market.