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Real Estate Blog

 Home Prices Reach Year High in June San Antonio


The average and median prices of single family residential homes reported the highest numbers for the year in June 2013 according to the Multiple Listing Service report by the San Antonio Board ofREALTORS® (SABOR). The average price for the month was $221,168 and the median was $180,400, both six percent increases from June of last year.  The total number of homes sold was 2,315 and the number of sales pending as the month closed was 1,920.

“The summer buying and selling season is in full swing, and we see that in these numbers. Not only are prices continuing to rise, but the demand is still high with homes selling faster than ever. Right now we have 5.1 months of inventory with homes spending an average of 73 days on market – the lowest all year,” said Steven Gragg, 2013 SABOR Chairman of the Board.

According to a study by Realty Trac, foreclosures across the nation are at their lowest level for any month in 7.5 years and are down 29 percent from where they were a year ago. In Texas, foreclosure activity is down 42.3 percent for the year as of June.

“The steady drop in foreclosures signals a strengthening housing economy driven by steady job growth, low interest rates and rising home values,” said Angela Shields, SABOR President and CEO. “In fact, we are seeing a gradual shift among San Antonio buyers toward purchasing homes priced in the mid-range.

 In June 2013, 38.44 percent of buyers purchased homes priced between $200,000 and $500,000. At this time last year, that number was closer to 35 percent.”

The average price of a single family residential home year-to-date was $205,352 and the median price year-to date was $167,300 a six percent and five percent increase compared to 2012, respectively.

Rentals in the rental market also continue to rise. A total of 1,355 residential rental properties were rented in June, which marks a six percent increase compared to June 2012.





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