Home Sales Taper, While Inventory Remains Tight
San Antonio’s summer home-buying frenzy tapered off somewhat in September 2017, with monthly sales numbering 2,587, a 1% decrease year over year. Despite the slight sales decline, median and average housing prices continued picking up, according to data furnished by the San Antonio Board of Realtors (SABOR).
The median price increased 5% to $213,500, while the average home price was $247,058, a 2% boost. At the end of the month, 2,152 sales were pending, numbering 136 more than September 2016. Days on the market numbered 52 – a 7% year-over-year drop – while months of inventory stood at 3.8.
Yvette Allen, SABOR’s 2017 Chairman, said it’s not uncommon for home sales to taper off in the fall. “This has still been a busy year for real estate in the San Antonio area,” she said. “Since January, a total of 23,414 homes have sold, 3% more than this period last year.”
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