San Antonio Home Sales Keep Climbing, Inventory Still Tight
San Antonio home sales continued their upward trajectory in Q1 2018, climbing 6% year over year. According to the San Antonio Board of Realtors (SABOR), 2,770 homes were sold in the area, with 2,914 sales pending at the end of March. Meanwhile, housing inventory remains low, at 3.3 months’ worth, despite an average home price increase of 4% to $254,628 and 8% median price increase to $219,600.
“With the tight supply, we counsel home buyers to be ready to make a quick decision,” said Lorena Peña, SABOR’s 2018 Chairman of the Board. “It’s important to note that 97.9 percent of listings sold for list price, so you need to bring a strong offer to the table.”
Homes priced $199,000 or less made up 41.9% of sales, while homes priced between $200,000-$499,000 accounted for 51.06% of sales. The remaining 6.17% of home sales were priced at $500,000 and above.
Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.
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