As the summer buying season wound down last month, home sales continued to outshine the same month last year with August 2019 reporting a total of 3,440 total sales, a seven percent year-over-year increase according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which
reports on all areas contained within the MLS. Both the average and median sales prices rose steadily, with the average increasing four percent to $277,114 and the median inching up three percent to $238,400. August reported just 3.7 months of inventory available and the month ended with 2,688 sales still pending.
“It’s no surprise to see our sales continue to increase each year, with more and more people relocating here every day for work, school, military service and other interests,” said Grant Lopez, SABOR’s 2019 Chairman of the Board. “It’s clear that such a booming real estate market is directly related to the expansive growth happening in our city.”
When breaking down the market, over half the homes sold in August were priced between $200,000 and $500,000 with those homes making up 62.4 percent of the month’s sales. Homes priced under $200,000 still made up a large chunk of the month’s market with those accounting for 31.3 percent of August’s sales. Homes priced over $500,000 made up the remaining 6.3 percent of the homes sold last month.
Additionally, August had 4,205 new homes listed on the market and reported 10,303 homes actively for sale, both increases from this same time last year.
Around the state, Bexar County continues to be the most affordable of the big metro areas. While Bexar County reported an average sales price of $262,976 in August, nearby Travis County had an average sales price of $486,131, Dallas County reported an average of $353,710, and Harris County reported an average of $324,753.
In Texas as a whole, a total of 33,608 homes were sold, a 4.7 percent year-over-year increase. The average price for a home sold in Texas was $299,171, a 2.6 percent increase, and the median price was $247,000, a 3.6 percent increase. The state reported just 3.9 months of inventory available. (Source: SABOR Monthly Report)