Area home sales in July show a significant uptick over last year with a total of 3,275 homes sold during the month, an 11 percent year-over-year increase. The average sales price went up two percent to $261,889 and the median increased five percent to $229,800, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR), which reports on all areas contained within the MLS. There were 2,654 sales still pending at the end of July.
“The city coming together to attract new businesses to San Antonio is a big factor in keeping a hot housing market,” said SABOR 2018 Chairman of the Board Lorena Peña. “One of the draws for any business is affordable housing solutions for its workforce and all areas of San Antonio fit the bill.”
Homes spent 49 days on the market, only one day less than this time last year. The area has 3.7 months of inventory available, which translates to a more favorable market for sellers. However, there were 4,217 new listings put on the market in July, which is up from 3,978 last year.
More than half (57.89 percent) of the homes sold in July were between $200,000 and $500,000. Homes under $200,000 made up 36.82 percent of sales. The remaining 5.31 percent of homes sold in July were priced at $500,000 and above.
Bexar County reported a total of 2,384 single-family homes sold in July, an 8.7 percent year-over-year increase. The average price of a home sold in the county was $252,632, a 3.2 percent increase from 2017 while the median was $217,500, a 5.1 percent rise.
Overall, Texas homes sales went up 8.1 percent in July for a total of 31,867 homes sold. The average price for a home sold in Texas went up 3.5 percent to $294,184 and the median rose 4.4 percent to $240,000. (Source: SABOR Monthly Press Release)
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