January Home Sales Increase 10 Percent from Previous Year
The San Antonio Board of REALTORS® has just released the Market Stats for January & if this is any indication of they type of year we are in store for… Looks like we are going to be pretty busy & that we are going to have a lot of happy buyers & sellers!
January kicked off the year with a 10 percent year-over-year increase in home sales for a total of 1,683 homes sold, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. Though the median price dropped from December’s $208,800 to $194,700, the cost is still a modest four percent increase from January of 2016. Meanwhile, January’s average home price increased eight percent year-over-year to $242,622. The average home price has remained over $200,000 since February 2014.
“Prices may have increased in the area over the past several years, but they still remain affordable when compared to other large metro areas in the state,” said Michele Bunting Ross, SABOR’s 2017 Chairman of the Board.
Bexar County’s median home price in January was just $188,000 compared to Travis County’s $312,958 and Harris County’s $192,500. Home sales in Bexar County climbed 7.2 percent from the previous year with 1,090 sales of existing homes and 157 new construction properties.
Across Texas, home sales rose 4.2 percent from 2016 while the median price of a home sold in the state increased 7.9 percent to $205,000.
Though prices across the city and state have risen, over half the homes sold in the San Antonio area in January remained under $200,000 with those sales accounting for 52.8 percent of the homes purchased. Homes priced between $200,000 and $500,000 made up 43.4 percent of the sales and homes priced over $500,000 accounted for 3.8 percent of the homes sold last month.
“At one time, it was the trend for winter months to slow down in terms of sales, but it’s plain to see that’s not the case in San Antonio, and hasn’t been for a while. We continue to see people come into the market, whether they are first-time buyers, retirees looking to downsize, military families relocating or any number of other reasons,” said Angela Shields, SABOR’s President and CEO. “In a city as diverse as San Antonio, there are properties available for just about everyone.”