Home sales figures continued their gradual year-over-year increases across the board in November, with 2,408 homes sold, a four percent increase from 2017 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 rose two percent to $259,767 while median grew five percent to $226,200. The month reported 3.4 months of inventory and ended with 1,949 sales still pending.
The average time of a home spent on the market in November was 62, which is one more day than this time last year, and the price per square foot rose four percent year-over-year to $122. Just over 3,000 new listings hit the market in November, and 9,254 listings were active during the month.
“We had nearly 90 more homes sold this month from the same time last year, and 1,400 additional homes sold this year to date,” said SABOR 2018 Chairman of the Board Lorena Peña. “These year-over-year increases just go to show that buyers are still finding properties that meet their needs and there is still high demand for homes in the area.”
When breaking down the percentage of home sales per price bracket, homes sold under $199,000 made up 39.41 percent of the month’s market. Homes priced between $200-$499,000 accounted for 55.19 percent of November’s sales and homes priced over $500,000 made up 5.32 percent of the market.
In Bexar County, a total of 1,784 homes sold in November, a 3.2 percent increase from 2017. The average price of a home sold in the county increased 0.7 percent to $244,347 and the median rose 2.5 percent to $210,000. Overall, homes sales in Texas in November totaled 23,434, a 3.1 percent drop year-over-year. The average price for a home sold in Texas went up 4.1 percent to $284,185 and the median rose four percent to $232,000. (Source: SABOR Monthly Report)
Download and share our Market Infographic for San Antonio below!