December saw the San Antonio real estate market finish the year with another strong month of home sales and sale prices.
Inventory of available homes for sale in San Antonio remains low, resulting in those looking to buy competing against multiple offers on well maintained homes in desirable neighborhoods.
The market saw improvements during 2014 in home sales, sale prices and the number of days that homes were on the market before they sold.
The Wall Street Journal reported that San Antonio is one of only eight metropolitan areas that set new home price records during 2014, exceeding the highs seen during the 2006-2008 housing price peak.
San Antonio has seen an increase of 5.7 percent in the number of homes sold during 2014 when compared to 2013.
In addition to the continued strong home sales, the average home sales price has also seen an increase of 10.7 percent during the year.
The San Antonio Board of REALTORS® (SABOR) reported that the number of days that homes that sold were on the market during December remained low at just 70 days.
Here is an infographic with the breakdown of how the San Antonio Real Estate Market did during the month of December and for 2014.
San Antonio December 2014 Home Sales
The month of December saw 2,150 home sales in San Antonio which was a 16.7 percent increase when compared to the homes sales of December 2013.
Homes under $200,000 made up 55.8 percent of sales, with homes priced between $200,000 and $500,000 accounted for 39.7 percent of sales. Homes priced over $500,000 came in at 4.5 percent.
Home sales during the month of December were 26.2 percent more than they were in November, which happens the majority of the time, just not by that large a margin.
San Antonio December 2014 Home Sale Prices
The December average home sale price, $222,200, in San Antonio was an increase of 4.3 percent when compared to December of 2013.
Meanwhile, the median home sale price, $183,200, also increased 6.3 percent during the same time period.
San Antonio December 2014 Days on Market and Absorption Rate
The inventory of available homes for sale in San Antonio remains low as December finished at 3.6 months. The number of total listings (7,569) for the month of December was the lowest that they have been in the month of December since 2005.
The 3.6 months of inventory for December continues to place our inventory levels at the lowest levels recorded.
A neutral market is 6 months of inventory with numbers above 6 months indicating a buyer’s market (more supply of homes than the demand) and numbers below 6 months, a seller’s market (more homes in demand than homes available on the market).
For more information on how these numbers are affecting you or for a specific neighborhood, contact me for free information.
San Antonio Current Listings
The data relating to real estate on this website comes in part from the Internet Data Exchange (IDX) Program of the San Antonio Board of REALTORS®. IDX information is provided exclusively for consumers' personal non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All Information Is Deemed Reliable But Is Not Guaranteed Accurate.
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