The upward trend in sales of San Antonio residential real estate continued last month, with a 7% increase compared to September of 2011. Both average and median home prices rose by 2% from last year, too. The National Association of REALTORS® gives much of the credit to the Federal Reserve’s decision to buy mortgage-backed securities, which has had the effect of keeping interest rates at historic lows.
The number of homes and condos sold in the San Antonio metro increased all through 2012, with a total of 15,175 sold compared to the same time in 2011. A total of 1,683 homes were sold in September.
Although residential home sales were down 30% in 2011 from 2006, median home sales prices went up slightly. The median price of $152,500 in September 2011 rose to $157,900 a year later, according to the San Antonio Board of REALTORS®.