The number of home sales in San Antonio during February looked a lot like it did in 2003 and 2004, the pre-housing-boom years. James Gaines, research economist with the Real Estate Center at Texas A&M University, said that “We’re going back to that stability pre-boom”.
The number of homes for sale in San Antonio remains low, with fewer than 10,000 homes on the market within the San Antonio area for the first time since January 2007. San Antonio has less than 7 months of inventory (6 months is considered a neutral market between buyers and sellers).
San Antonio February Home Sales
San Antonio home sales increased 13% in February when compared to the homes sales of February of 2011. The number of sales for this year are looking to be the highest since 2007-2008. Home sales really pick up from April to August traditionally in San Antonio.
San Antonio February Home Sale Prices
The Average Home Sale Price in San Antonio increased 2.5% in February when compared to the homes sales price of February of 2011. According to information from the Texas Real Estate Center for the past 10 years, the highest average home prices have occured during the summer months. In fact, during that same time period, the highest home prices for each year have averaged 12% higher than February’s average home sales prices.
San Antonio February Days on Market and Absorption Rate
The inventory of available homes for sale in San Antonio for February was at 6.8 months, and the numbers look like they are moving back to 2007 and earlier levels. A neutral market is 6 months of inventory with numbers above 6 indicating a buyer’s market and numbers below 6, a seller’s market.
San Antonio Current Listings
For more information on how these numbers are affecting you or for a specific neighborhood, contact me for free information.
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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