According to the San Antonio Board of Realtors, the San Antonio area continues to trend upwards in housing indicators. It is almost a balanced market, but still weighing more on the buyers’ side. The sales of single-family homes in May were up 4% from the same time last year. In addition, the average sales price increased by 4%. Across the San Antonio metro, the average sales price was $197,451 and the median price was $161,400 compared to May 2011.
The rest of the nation’s housing inventory increased slightly to a 6.6-month supply in May. San Antonio’s housing supply is similarly hovering at just under 7 months. This is partly because home builders are getting back to work.
Six months is customarily the amount at which a housing market is considered to be balanced between supply (sellers) and demand (buyers).