Home buyers started their summer shopping in May, causing total sales to jump 10 percent to 3,608 homes sold during the month, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. The average price meanwhile
experienced a small increase of just two percent year-over-year for a price of $274,238 and the median inched up just three percent from last year for a price of $238,800. Inventory continued to remain low with only 3.8 months available, demonstrating once again that the San Antonio area continues to favor sellers.
“The low inventory means increased demand so for those looking to move, this is a good time to think about putting your house on the market,” said Grant Lopez, SABOR’s 2019 Chairman of the Board. “But that doesn’t mean buyers are out of luck. Even though inventory is tight, there are still thousands of properties on the market, with May reporting over 10,000 active listings available.”
In fact, May 2019 reported nearly a thousand more homes on the market than the same month last year. This May also reported an increase in the number of homes sold in the mid-range (those priced between $200,000 and $500,000), with those sales accounting for 62.3 percent of the homes sold. Meanwhile, homes priced under $200,000 made up another large portion of the market – 31.5 percent – and homes priced over $500,000 accounted for 6.2 percent of sales.
In just Bexar County, a total of 2,422 homes were sold in May, reporting a median sales price of $224,900 and an average of $257,812. For comparison, in Travis County, the average sales price of a home was $525,835. In Harris County the average price of a home sold was $339,685 and in Dallas County, that price was $398,286. “San Antonio has continued to be an attractive place for businesses and families to relocate to due to our affordability and quality of life,” said Gilbert S. Gonzalez, SABOR’s President and CEO. “Fortunately, there are still homes available at all price points, meaning buyers have options when looking for the property that is right for them.”
Across the state, sales figures rose marginally in May. Total sales increased 2.9 percent year-over-year to 33,456 homes sold. The average price increased 4.7 percent to $308,652 while median inched up 3.1 percent to $248,500. (Source: SABOR Monthly Report)