Thank you for tuning in to this edition of the San Antonio Market Statistics. Our summer season is off to a strong start! In May we had 2,574 homes sold. That’s 9% more than last year.
The average price grew by 10% to $246,772.
For the first time ever, the median price has gone above $200,000. May’s median was $202,500 and that’s 10% higher than last year.
Our days on market stayed consistent with April, with just 59 days. That’s 7 fewer than last May.
Our months of inventory, which has stayed below 4 months since October, was 3.9 in May.
Since January, 10,269 homes have been sold. That’s an 11% increase from the same time last year.
The month ended with 2,437 sales still pending. That’s a 17.6% increase from May 2014 and a good indicator that the summer months are heating up to be a busy time for buying and selling.
We also saw an increase in new listings in May. There were 6.3% more homes listed in May this year than last year.
These low interest rates are also helping buyers afford more house for their money. In May, homes priced over $500,000 made up a record-breaking 5.75 percent of the market.
Homes priced below $200,000 accounted for 49.18 percent of sales. And homes priced between $200,000 and $500,000 accounted for 44.99 percent of the totalhomes sold in May.
According to the NAR, the residential real estate market is on track for its best year since 2006, but this time without threat of a housing bubble.
That’s right. In the last year, the country has added more than 3 million jobs, which has fueled the demand for homes.
In San Antonio, our population continues to increase as companies relocate here and add higher paying jobs.
It’s no surprise these increased incomes, not to mention the higher quality homes being built, are translating into increased home prices.
We thank you for tuning in to this edition of the San Antonio Market Statistics. Please remember a full release of this month’s numbers can be found on SABOR.com along with many other resources for you.
If you have any questions, please don’t hesitate to call Toni Smart, Smart Group, REALTORS® 210-695-3663 or firstname.lastname@example.org.
Check out our website for the list of properties www.http://smartgrouprealtors.com