June San Antonio Real Estate Stats Release

FOR IMMEDIATE RELEASE – July 12, 2016

San Antonio– A slight uptick in inventory stimulated the demand forhomes in June with 3,038 homes sold last month, a five percent year-over-year increase according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. The average sales price inched up two percent to $247,339 while median price rose moderately by six percent to $212,500.

“Our inventory is now close to four months, up slightlyfrom January when we had 3.5 months of inventory,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board. “However, we ended the month with 2,471 sales still pending,almost 300 more than this time last year. Despite low inventory, we still see home buyers entering the market andfinding something to meet their needs.”

In the San Antonio area, homes priced under $200,000 made up 45.3 percent of the homes sold in June. Homes priced between $200,000 and $500,000 accounted for 49.4 percent of the homes sold and homes priced over $500,000 made up 5.2 percent of the market.

In Texas, a total of 30,806 homes were sold in June. Of those, 27,321 were existing homes and 3,476 were new construction properties. The average price of a home sold in June across the state was $277,198 and median price was $220,700.

Meanwhile, home prices across several major Texas metro areas reported growth in June. The average price of a home sold in Bexar County increased 2.2 percent to $238,173 while the average price in Dallas County, where Dallas is located, rose 5.5 percent to $350,409. Harris County, where Houston is located, reported a two percent growth in average sales price to $315,272 and in nearby Travis County, where Austin is located, homebuyers paid an average $454,191 for a home, a 13.9 percent year-over-year increase.

“We know that San Antonio is an affordable market, but this becomes even more apparent when we compare our prices to others around the state,” said Angela Shields, SABOR’s President and CEO. “We are very fortunate to have such a healthy economy here locally and with homes available at virtually every price point, a potential buyer can find a property that fits within their budget.”

SABOR Multiple Listing Service Report: Home Sales Recap June 2014 June 2015 June 2016 Total Month Sales 2,483 (6% increase) 2,897 (18% increase) 3,038 (5% increase) Average Price $231,919 (6% increase) $242,011 (5% increase) $247,339 (2% increase) Median Price $189,200 (5% increase) $201,100 (6% increase) $212,500 (6% increase)*Percentage increases are based on a year-over-year comparison.

About SABOR:

The San Antonio Board of REALTORS® is the largest professional trade association in San Antonio and represents over 9,500 REALTOR® members. SABOR’s membership services nine counties including Bexar, Atascosa, Frio, Karnes, Kendall, LaSalle, McMullen, Medina and Wilson. SABOR is one of over 1,200 local boards and 54 state and territory organizations of REALTORS® nationwide that make up the National Association of REALTORS® (NAR).

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San Antonio Area Homes Experience Moderate Sales, Price Growth