December saw the San Antonio real estate market reach an all-time low of 3.0 months of inventory.
What this means is that the number of homes that sold (demand) was at it’s highest point in relation to the number of available homes for sale (supply), representing the strongest Seller’s Market that San Antonio has ever seen.
San Antonio has seen an increase of 9.2 percent in the number of homes sold for 2016 when compared to 2015.
The average home sales price has remained steady with an increase of 3.5 percent during the same time period.
The San Antonio Board of REALTORS® (SABOR) reported that the number of days that homes that sold were on the market during December saw a slight increase to just 61 days.
Here is an infographic with the breakdown of how the San Antonio Real Estate Market did during the month of December.
San Antonio December 2016 Home Sales
The month of December saw 2,603 home sales in San Antonio which was a 9.2 percent increase when compared to the homes sales of December 2015.
Homes under $200,000 made up 46.6 percent of sales, with homes priced between $200,000 and $500,000 accounted for 49.3 percent of sales. Homes priced over $500,000 came in at 4.1 percent.
San Antonio December 2016 Home Sale Prices
The December average home sale price, $239,451, in San Antonio was an increase of 2.2 percent when compared to December of 2015.
Meanwhile, the median home sale price, $207,000, also increased 5.8 percent during the same time period.
San Antonio December 2016 Days on Market and Absorption Rate
The inventory of available homes for sale in San Antonio remains low as December finished at 3.0 months. The number of total listings (7,998) for the month of December was once again below the number of homes available last December.
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.
What do you think?
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