August home sales prices showed an increase of 13 percent in sales as compared to this same time last year, according to the latest statistics released by the MLS from the San Antonio Board of REALTORS®, which reports on all the areas included in the Multiple Listing Service. Inventory still remains below 4 months for the twelfth consecutive month which caused prices to continue to rise. The average price of a home in August rose four percent to $246,515, while the median price moved up to seven percent at $211.800. The median price has stayed over $200,000 since May 2016.
When July ended with over 2,400 pending transactions, it created a boost for August sales. San Antonio continues to be a strong market and the rest of the year is expected to continue the upward trend. Plus, the city still remains very affordable when compared to the other large markets in Texas. In Bexar County, the median price of a home sold in August was $194,000 while the median price in Harris County was $206,000, and the median price in Dallas County was $210,000. Meanwhile, nearby Travis County had a median price for homes sold at $332,500.
46 percent of the homes sold in the San Antonio market area were priced under $200,000 while homes priced between $200,000 and $500,000 accounted for 49 percent of the market. Those homes priced over $500,000 made up the remaining 5 percent of sales last month, which was up 0.5 percent from July.
Days on the market remained around 53 days, while the average cost per square foot was $112. If you are thinking about buying or selling a home in the San Antonio, TX and surrounding areas, now would be a great time. Find out How Much Your Home is Worth, or search for homes on my website at Homes For Sale in Greater San Antonio.
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