The volume of homes sold in the city and surrounding areas soared in January while the price to purchase a house here continued to grow, building off of last year’s record results.
San Antonio residential sales soared 6.6 percent last month from January 2015, with 1,534 dwellings sold, according to data from the San Antonio Board of Realtors. The median price of a home increased 5.3 percent year-over-year — from $176,700 12 months past to $186,100 last month.
Local home remains a seller’s market, with high demand and low inventory, experts said. Housing supply — measured by the average time it takes for a house out there if no new houses are listed to be sold — stayed at three plus a half months after achieving a record. A supply of six months is considered to be balanced between demand and supply.
They predicted that sales will keep increasing this year, but at a slower rate than last year as the oil crisis squeezes the Texas market that was broader.
We’ll still be in pretty great shape, although We mightn’t establish a fresh record said chief economist at the Texas A&M University Real Estate Center., Jim Gaines “ It’s like taking your foot off the accelerator a little bit.”
Inventory will become less tight this year as homebuilders boost the rate of building to match demand, ending up at 4.5 or five months, Gaines predicted.
A record high of 27,154 dwellings were sold in the local place last year, surpassing the previous record set in 2006 housing crisis. before the The median house price broke $200,000 for the first time in May, peaking at $202,500.
If you have been considering performing a San Antonio home search then you definitely will not be on your own these days. After all this is certainly an awesome place to live with a very high quality of life. This, mixed with the number of affordable SAN ANTONIO homes for sale means that the market is definitely one worth looking through at this time if you would like to stay in this city. San Antonio also provides much to do for both single men and women and families, too.
Since the city presents such a good place to live, it is simply natural that house prices would not be the lowest in the state. But, during your San Antonio home search you will see that they are sensible, especially since the latest turmoil in the housing market has led to many homes coming onto the market and many of them, at an affordable price. For those who are interested, San Antonio homes present plenty of opportunity today considering that the local economic climate is relatively stable with good jobs to be found.
Of course, you will want to look for the type of house that appeals to your sense of style and meets your needs. San Antonio homes come in a variety of such styles and the city, over all, is known to be somewhat eclectic as it is home to a number of local artists and musicians, together with those working in tech industries and government, too. Because of this, you will see that SAN ANTONIO homes for sale run the gamut when it comes to price, size and design. This means you have more to choose from.
Keep in mind that the lending culture throughout the entire United States has certainly changed nowadays. That means that it can take longer to have a mortgage you need and for San Antonio real estate, you may perform better if you have that mortgage up front prior to you start looking. This way you could find a property in your budget range and not have the seller wait around.
For many individuals, now is the moment to act. San Antonio real estate is lower in price now and there are more chances for new homeowners who have good credit to sweep in and set themselves up. If you’re planning to do this, take the time to plan out a solid strategy and you’ll get great results.