San Antonio Board of REALTORS® releases January 2016 housing market report:
January kicked off the year with 1,534 homes sold in the San Antonio area, a seven percent increase over the previous year according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. Both average and median prices also jumped up with the average sales price reported at $224,527 and the median price at $186,100, a six and five percent year-over-year increase, respectively. The month reported 2,819 new listings with homes staying on the market just 63 days in January, 15 percent less time than January of last year.
“Some of the factors we look at to know if we have a healthy market are how many homes we have available and if the prices are still affordable,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board. “In San Antonio, we have an inventory of 3.5 months and we continue to see record numbers of sales and prices still below what others around the state are spending.”
In fact, in Texas the average price of a home sold in January was $239,819, meaning the San Antonio area is still less than what many others around the state are paying for homes. Months of inventory in the state matched San Antonio’s of 3.5 months and days on market in Texas were just 66 days.
In the San Antonio area, homes priced under $200,000 made up 55.67 percent of the homes sold in January while those priced between $200,000 and $500,000 accounted for 39.83 percent of sales. Homes priced over $500,000 edged up to 4.5 percent of the homes sold.
In Bexar County, home sales increased 7.4 percent for 1,173 total sales. Kendall County also experienced an increase of 10.7 percent more homes sold in January over last year.
In just the city of San Antonio, sales of new construction properties grew by 95.7 percent year-over-year with 45 new homes sold in January. Meanwhile, sales of existing homes rose four percent to 676 homes sold.
“Last year saw a record number of homes sold, so it’s no surprise that 2016 started off so strongly,” said Angela Shields, SABOR’s President and CEO. “The month ended with 1,792 sales still pending, so we expect February to continue this growth and lead us into a strong Spring buying season.”
SABOR Multiple Listing Service Report: Home Sales Recap
|
January 2014 |
January 2015 |
January 2016 |
|
|
Total Month Sales |
1,363 (7% increase) |
1,439 (5% increase) |
1,534 (7% increase) |
|
Average Price |
$194,312 (6% increase) |
$211,968 (9% increase) |
$224,527 (6% increase) |
|
Median Price |
$161,900 (7% increase) |
$178,000 (9% increase) |
$186,100 (5% increase) |
*Percentage increases are based on a year-over-year comparison.
About SABOR: The San Antonio Board of REALTORS® is the largest professional trade association in San Antonio and represents over 9,500 REALTOR® members. SABOR’s membership services nine counties including Bexar, Atascosa, Frio, Karnes, Kendall, LaSalle, McMullen, Medina and Wilson. SABOR is one of over 1,600 local boards and 54 state and territory organizations of REALTORS® nationwide that make up the National Association of REALTORS® (NAR).
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