Temperatures and rainfall were not the only things to set records in San Antonio this May. It was also a hot, rainmaking month for home sales in the San Antonio metro.
The largest increase in sales in 5 years was recorded, with a total of 2,480 homes sold, representing a 31% jump from May of 2012. The number of homes sold rose 19% from a year ago.
The inventory of homes is still at a 5.1-month level, indicating a continuing sellers’ market. It is taking an average of only 78 days to sell a home, a drop of 15% from last May.
The average sales price was $216,940. That is a pretty significant 10% increase from May of 2012, when the average price was $198,091.
The under-$200,000 price bracket represented 59% of the home sales. As prices rose, homes over $500,000 accounted for almost 5% of sales in May, compared to their usual 3% or 4%, according to the president and CEO of the San Antonio Board of REALTORS, Angela Shields.