February 15, 2017

January Home Sales Increase 10 Percent from Previous Year

San Antonio – January kicked off the year with a 10 percent year-over-year increase in home sales for a total of 1,683 homes sold, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. Though the median price dropped from December’s $208,800 to $194,700, the cost is still a modest four percent increase from January of 2016. Meanwhile, January’s average home price increased eight percent year-over-year to $242,622. The
average home price has remained over $200,000 since February 2014.

“Prices may have increased in the area over the pas t several years, but they still remain affordable when compared to other large metro areas in the state,” said Michele Bunting Ross, SABOR’s 2017 Chairman of the Board.
Bexar County’s median home price in January was just $188,000 compared to Travis County’s $312,958 and Harris County’s $192,500. Home sales in Bexar County climbed 7.2 percent from the previous year with 1,090 sales of existing homes and 157 new construction properties.

Across Texas, home sales rose 4.2 percent from 2016 while the median price of a home sold in the state increased 7.9 percent to $205,000.

Though prices across the city and state have risen, over half the homes sold in the San Antonio area in January remained under $200,000 with those sales accounting for 52.8 percent of the homes purchased. Homes priced between $200,000 and $500,000 made up 43.4 percent of the sales and homes priced over $500,000 accounted for 3.8 percent of the homes sold last month.

“At one time, it was the trend for winter months to slow down in terms of sales, but it’s plain to see that’s not the case in San Antonio, and hasn’t been for a while. We continue to see people come into the market, whether they are first-time buyers, retirees looking to downsize, military families relocating or any number of other reasons,” said Angela Shields, SABOR’s President and CEO. “In a city as diverse as San Antonio, there are properties available for just about everyone.”

SABOR Multiple Listing Service Report: Home Sales Recap:

  January 2015 January 2016 January 2017
Total Month Sales 1,439 (5% increase) 1,530 (7% increase) 1,683 (10% increase)
Average Price $211,968 (9% increase) $223,937 (6% increase) 242,622 (8% increase)
Median Price $178,000 (9% increase) $186,600 (5% increase) 194,700 (4% 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 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).