Holding Steady…

…and booming is what is taking place in the San Antonio housing market.

With interest rates at historic lows and the summer months just around the corner, the San Antonio residential housing market is booming with increases in homes sold and prices each month. The Multiple Listing Service report by the San Antonio Board of REALTORS® (SABOR) reported the March 2013 average price of a single family residential home at $194,271 and the median price at $158,900. While the median price held steady with 2012’s March median price, the average was up five percent compared to last year. Days on market fell to just 90 days from February’s 99 and the month finished with 1,935 sales still pending after the 1,826 that were closed.

“Low rates continue to make this a prime time to buy and sell real estate. We saw how the low rates cause the housing market to prosper in 2012, and we are continuing to see that trend as 2013 fares even better,” said Steven Gragg, 2013 SABOR Chairman of the Board.

According to a recent report by Freddie Mac, the average rate for the 30-year fixed loan recently fell to below 3.5 percent. The average rate on the 15-year fixed mortgage dipped below 2.7 percent.

Housing inventory is at 5.3 months, compared to 6.6 months at this time last year. With a quick turnaround in sales, the market is skewing in favor of sellers with 96.9 percent of homes being sold for list price. Homes sold in the price range under $200,000 accounted for 66.8 percent of total homes sold and those between $200,000 and $500,000 accounted for 29.2 percent. Homes priced at $500,000 and more made up 3.9 percent of the total sales for March.

“San Antonio was recently ranked by Forbes as one of the top 25 cities in the country to retire, citing the city’s low cost of living and stable economy. While other cities in the country experience peaks and downturns, San Antonio remains steady and consistent which makes it the perfect place to call home,” said Angela Shields, SABOR President and CEO.

                                                San Antonio Home Sales Recap

March 2011

March 2012

March 2013

Total Month Sales

page1image27920 page1image28240

1,556

page1image29168 page1image29488

1,654

page1image30720 page1image31040

1,826

page1image31968 page1image32288

Average Price

$182,871

$185,549

$194,271

Median Price

page1image37448 page1image37768

$149,200

page1image38696 page1image39016

$158,600

page1image40248 page1image40568

$158,900

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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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