Home sales remain at a record high as we move into Q4 2019. October reported 2,860 homes sold, a 12 percent increase over this same month last year 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 average and
median sales prices showed healthy growth as well, with an average sales price of $277,680 and a median of $235,700. The month ended with 3.7 months of inventory available, indicating a continued sellers’ market.
“The San Antonio area remains highly competitive for home buyers and sellers. Home sales continue to outpace previous years. October reported over 10,000 listings actively on the market. In fact, we’ve had over 10,000 listings available each month for the past six months,” said Grant Lopez, SABOR’s 2019 Chairman of the Board. “This means there is a variety of options for those interested in interested in buying or selling, so consult a REALTOR® to discuss your options.”
Over 58 percent of homes sold in October fell in the mid-range of $200,000 to $500,000. Another 34.41 percent of the market were homes priced under $200,000 and the market over $500,000 made up the remaining 7.31 percent of sales.
Bexar County fared similarly in October with increases in sales figures. A total of 2,104 homes sold in October, an 12.9 percent year-over-year increase. Meanwhile, the average sales price of a home in the county increased to $260,687, a 7.3 percent increase, and the median rose 4.6 percent to $221,250.
Home sales in Texas rose 9.6 percent in October for a total of 27,973 homes sold. The average price for a home in October increased 5.2 percent to $293,409 with median price increasing 5.6 percent to $242,900. October ended with 37,581 new listings and 3.6 months of inventory in Texas. (Source: SABOR Monthly Report)