A strong month of home sales along with a decrease in the number of available homes for sale has pushed the San Antonio real estate market into an even stronger seller’s market as we enter the spring selling season.
San Antonio has seen an increase of 13.0 percent in the number of homes sold for the first 3 months of 2016 when compared to the first 3 months of 2015.
The average home sales price has also been on the rise with an increase of 4.1 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 March saw another drop to just 67 days.
Here is an infographic with the breakdown of how the San Antonio Real Estate Market did during the month of March .
San Antonio March 2016 Home Sales
The month of March saw 2,722 home sales in San Antonio which was a 16.3 percent increase when compared to the homes sales of March 2015.
San Antonio homes below $200,000 saw another drop while homes that sold between $200,000 and $500,000 enjoyed a strong month.
Homes under $200,000 made up 50.4 percent of sales, with homes priced between $200,000 and $500,000 accounted for 45.9 percent of sales. Homes priced over $500,000 came in at 3.7 percent.
San Antonio March 2016 Home Sale Prices
The March average home sale price, $229,985, in San Antonio was an increase of 2.7 percent when compared to March of 2015.
Meanwhile, the median home sale price, $198,500, also increased 7.3 percent during the same time period.
San Antonio March 2016 Days on Market and Absorption Rate
The inventory of available homes for sale in San Antonio remains low as March finished at 3.2 months. The number of total listings (7,844) for the month of March was actually higher than they were last year which has become a trend recently.
The 3.2 months of inventory for March placed 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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