July was the first time since May 2013 that the San Antonio real estate market saw home sales not exceed those seen during the previous year.
Home sales of homes that sold between $200,000 and $500,000 accounted for over half of the homes sold during the month of July.
San Antonio has seen an increase of 7.2 percent in the number of homes sold for the first seven months of 2016 when compared to the same time in 2015.
The average home sales price has remained steady with an increase of 2.9 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 July remained steady at just 54 days.
Here is an infographic with the breakdown of how the San Antonio Real Estate Market did during the month of July.
San Antonio July 2016 Home Sales
The month of July saw 3,047 home sales in San Antonio which was a 0.8 percent decrease when compared to the homes sales of July 2015.
Homes under $200,000 made up 45.1 percent of sales, with homes priced between $200,000 and $500,000 accounted for 50.6 percent of sales. Homes priced over $500,000 came in at 4.3 percent.
San Antonio July 2016 Home Sale Prices
The July average home sale price, $245,292, in San Antonio was an increase of 3.5 percent when compared to July of 2015.
Meanwhile, the median home sale price, $208,000, also increased 4.3 percent during the same time period.
San Antonio July 2016 Days on Market and Absorption Rate
The inventory of available homes for sale in San Antonio remains low as July finished at 3.9 months. The number of total listings (9,889) for the month of July was once again higher than they were last year which has been the recent trend.
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?
Is there any other information you would like? What are your thoughts on how the real estate market is doing in San Antonio? Please let me know what they are in the comments.