Inventory, Inventory

The real estate market is in the midst of a major comeback. Sales are greater than any time since 2007. Consumer confidence is increasing. Economists are now saying housing is the major tailwind to our nation’s overall economic recovery.

However, there is one major challenge that could stall the housing market: a lack of inventory.

In San Antonio we ended the year with 5.1 months of inventory of houses for sale. This is an indication of a tilt toward a Seller’s market.  Short term supply is good news for increase in prices; however an increase in inventory is crucial for long term recovery.

With interest rates still at an all time low there is still a great opportunity for buyer’s to buy.

The San Antonio housing market finished the year strong with a total of 19,940 homes sold, a 10 percent increase from the number of homes sold in 2011, according to the December 2012 Multiple Listing Service report by the San Antonio Board of REALTORS® (SABOR). Both the year- to-date average and median prices also increased from the previous year each by five percent.

Locally, the average sales price for December 2012 for single-family residential homes registered at $192,789 (a four percent increase from December 2011), while the month’s median price was $160,200. This is a five percent increase from December 2011’s median price. Breakdowns in prices show 64.6 percent of homes sold in the low-range ($199,000 and below), 32.04 percent in the mid- range ($200,000 – $499,000) and 3.17 percent in the high range ($500,000 and up).

                                                     San Antonio Home Sales Recap

  December 2010 December 2011 December 2012
Total Month Sales 1,308 1,421 1,548
Average Price $192,228 $184,993 $192,789
Median Price $155,070

 

$152,900 $160,200

The information is not guaranteed by Trudy Pape, REALTOR® and she nor Coldwell Banker D’Ann Harper REALTORS® are responsible for any errors or omissions. Information  courtesy of  The San Antonio Board of REALTORS®. SABOR and KCM Blog.

 

 

 

 

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About papesellssatx

*Assisting people achieve their dream of owning or selling a home with professionalism and excellent customer service *ABR, MRP, PMN, CNAS, TRLP Graduate *Licensed Texas REALTOR® #0207820 *Active member of the Women's Council of REALTORS®, Texas Association of REALTORS®, National Association of REALTORS®, San Antonio Board of REALTORS® and a TREPAC Contributor. *Love REFERRALS and love to REFER... *WHO IN YOUR CIRCLE OF FRIENDS IS THE MOST LIKELY TO MAKE A MOVE NEXT? *Whether you are moving to, from or within San Antonio, surrounding areas or anywhere in the United States, I am here to assist you. www.trudypape.com Coldwell Banker, D'Ann Harper, REALTORS® 7523 North Loop 1604 West San Antonio, TX, 78249 Texas Licensed REALTOR® #0207820 Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. http://www.trec.state.tx.us/pdf/contracts/op-k.pdf
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