Home Sales, Prices Increase in Q1

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Home sales metrics throughout the San Antonio metro increased moderately in Q1 2017 at 3% year over year, according to statistics released by the San Antonio Board of Realtors (SABOR). The median price of a home sold in the first quarter also increased by 3% to $199,400, while the average sales price went up by 5% to $240,057.

A little more than half the homes sold in the area were priced under $400,000. Homes priced between $200,000 and $499,000 accounted for 44.9% of the quarter’s total sales, while homes priced at $500,000 and more made up 4.6% of the market.

“Our inventory has remained under four months for well over a year, but there are still many properties available for those thinking of getting into the market,” said Angela Shields, SABOR’s President and CEO. “However, if you find something you like, you need to be ready to make a decision quickly.”