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FOR IMMEDIATE RELEASE
January 16, 2017
 
2016 Home Sales Surpass Previous Years
 
San Antonio – The momentum created by a record-breaking 2015 pushed sales figures up in 2016 resulting in nearly 30,000 homes sold during the twelve month period, according to the Multiple Listing Service Reportfrom the San Antonio Board of REALTORS
® (SABOR) which reports on all areas contained within the MLS.

The average sales price of a home in the area was $239,657 and the median sales price was $204,300, a three and six percent increase respectively.

“Our market has maintained a steady pace all year, and we are not surprised to close out 2016 with such strong numbers,” said Michele Bunting Ross, SABOR’s 2017 Chairman ofthe Board. Sales figures each month except one this year have surpassed 2015’s figures, with the biggest year-over-year increase occurring in November with a 23 percent spike. Meanwhile, demand remained strong. The year began with 3.5 months of inventory and this number increased to 3.9 months in June before falling to the year’s low in December at 3.1 months. The number of days on market also saw some fluctuation in 2016, beginning the year at 63 days and straying over 70 in February before falling to a low of 53 in August and jumping to 61 in

December, still five fewer days than the previous December.

Homes priced over $500,000 increased 0.5 percent year-over-year to make up 4.9 percent of the year’s sales while homes priced between $200,000 and $500,000 accounted for 46.5 percent of the homes sold in 2016.

However, the majority of homes sold in the area remained under $200,000 with those sales making up 48.6 percent of the market.

“Homes are still extremely affordable in the San Antonio area. While buyers in some markets will pay well over half a million dollars for a moderate home, buyers here can find similar homes for a fraction of that price,” said

Angela Shields, SABOR’s President and CEO. “That affordability combined with job growth across many industries like tech, medical and military make this a desirable place to buy and sell property.” Sales across Texas also reported modest growth in 2016. Sales increased 4.7 percent year-over-year for a total of 302,061 homes sold in the state while the median price of a home sold rose to $212,000, a 7.1 percent increase.
 

SABOR Multiple Listing Service Report: Home Sales Recap

  Jan.-Dec. 2014 Jan.-Dec. 2015 Jan.-Dec. 2016
Total Month Sales 24,812 (5% increase) 27,256 (9% increase) 29,508 (8% increase)
Average Price $218,708 (5% increase) $231,847 (6% increase) $239,657 (3% increase)
Median Price $180,700 (6% increase) $192,800 (7% increase) $204,300 (6% increase)
 
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About SABOR: The San Antonio Board of REALTORS® is the largest professional trade association in San Antonio and represents over 10,000 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).