At 4 percent less time than in February of 2012, San Antonio homes were on the market for an average of 99 days last month before going under contract. A total of 1,379 sold—a whopping 96 percent at the asking price. Home sales increased 8 percent from last year, according to the San Antonio Board of REALTORS.
Homes priced under $200,000 made up 66 percent of the total, those priced between $200,000 and $500,000 comprised 29 percent, and those over $500,000 were a little over 4 percent. That’s the highest percentage of homes sold in that price band since 2011. The average sales price went up by $10,000 to $194,003. The median price went up by $6,500 to $157,000: half of homes sold in the San Antonio metro sold for less than that price and half for more.
Home buyers will need to adjust to the fact that it’s now a seller’s market in San Antonio with a low inventory of houses. Fortunately, they can take advantage of continued low mortgage rates to find the home of their dreams in San Antonio.