San Antonio’s housing market is still on the rise. In October, there was a 19% increase in the number of homes sold compared to last year’s total. According to the San Antonio Board of REALTORS, the average sales price also rose by 7% and homes are getting 96% of the asking price.
San Antonio has a history of being a stable market, without the peaks and valleys that make other housing markets more … interesting. So far this year, a total of 16,829 have sold compared to last January–October’s total of 15,233. With 5.9 months of inventory, it is balanced between a seller’s and buyer’s market.
In the northeast sector of the greater San Antonio metro, comprising Guadalupe and Comal Counties, the story is similar. Cibolo/Schertz home sales , which include a lot of new build, grew by 26.3% in volume with a median sales price of $172,000. New Braunfels, with a median sales price of $208,000, had an increase in sales volume of 23.8% from October 2011. Seguin sales volume fell from last year, but the sales price increased by 53.7% to a median of $176,700. Similarly, Canyon Lake’s sales were less than last year’s total, but the median price of $217,450 is up 47.9% from the same time last year.
A combination of historically low interest rates, easing mortgage qualification restrictions, a low cost of living, and plentiful job and military relocation opportunities should continue to keep San Antonio’s housing market on the up and up.