Spring has arrived in South Texas and the San Antonio market area. If you’re wondering how the market trends have been, let’s take a look at the month of February 2019. The median price for homes was up 8.3 percent from last year at a price of $195,000. The number of closed sales in February was 984, which was a 3.0 percent increase from the previous year. Days on the market was 56 days on an average, and the months of inventory was down to 2.9 months.
Consequently, it’s still very much a seller’s market for the most part in and around the city. If you’re thinking about or planning to sell, Now is a great time to Find Out How Much Your Home is Worth, and get it on the market in time for the summer rush, since school will be out before you know it within the next two months.
Here is the price distribution for single family homes ending the month of February 2019. Homes priced at $200,000 or less made up 52.3 percent of sold homes, 43.9 percent accounted for those homes in the $200,000 to $500,000 price range, while the remaining 3.8 percent accounted for those homes over $500, 000 to a million plus.
The active listings at the end of February were 3,448, which was a 12.4 percent increase over last year. It still takes an average of 31 days to close most transactions that require financing, but cash transactions are always faster.
Here are some of the zip codes with the fewest days on the market.
78217 29 days
78242 30 days
78227 38 days
78250 39 days
78223 40 days
Buyers can still find some available properties, but depending on the location, there maybe competitive offers on certain homes. Interest rates are still relatively low and will vary depending your your FICO scores. Visit my website at Homes For Sale in and Around San Antonio, and give me a call at 210-789-4216 to set up any showing appointments.