November 14, 2017

Total Home Sales, Prices Continue Moderate Increase as Fourth Quarter Begins
San Antonio Board of REALTORS® Reports on October's Housing Market Activity

San Antonio – Despite less than four months of inventory available, home buyers were not deterred and contributed to a five percent jump in total home sales in October, according to the Multiple Listing Service Report (MLS) from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. Just over 2,500 homes sold during the month while days on market dropped four percent to 55 days. October ended with 2,203 sales still pending.

Home prices were almost evenly split between the low and mid-ranges in October with 47 percent priced under $200,000 and 48 percent priced between $200,000 and $500,000. Homes priced over $500,000 accounted for the remaining five percent of the month’s sales, with 15 of those priced over $1 million.

“The San Antonio area continues to be one of the most affordable metro areas in the state with almost half the homes priced under $200,000. In fact, the median price of a home in Bexar County in October was $196,000 while homes in Travis County sold for a median close to $340,000,” said Yvette Allen, SABOR’s 2017 Chairman of the Board. “When we look at everything in the MLS, which includes some inventory in surrounding areas like Boerne, our median goes up to $207,100, which is still far less than other parts of Texas and below the state median of $220,500.”

In other parts of Texas, housing market figures continued an upward trajectory. Sales in Harris County in October increased 6.3 percent year-over-year with a median price of $215,000 and sales in Dallas County rose 2.8 percent with a median sales price of $230,000. Meanwhile, sales in Travis County increased 1.4 percent with a median price of $339,000.

Back in the San Antonio area, the average sales price remained consistent with 2016 with a price just over $241,000. A total of 3,131 homes were listed in October, and 9,131 listings were active during the month.

“With prices remaining stable and new listings continually coming on the market, there is something for both buyers and sellers here,” said Gilbert Gonzalez, SABOR’s interim CEO. “For buyers, there tends to be less competition in the off-season and they can see how the home functions in the colder weather. For sellers, homes are selling for 97.4 percent of list price.”

In Texas, a total of 25,277 homes were sold with the average price increasing 3.7 percent to $270,793. The median price jumped up five percent to $220,500 while days on market remained low at just 59 days

SABOR Multiple Listing Service Report: Home Sales Recap
  October 2015 October 016 October 2017
Total Month Sales 2,223 (5% increase) 2,399 (8% increase) 2,507 (5% increase)
Average Price $229,637 (10% increase) $240,373 (5% increase) $241,127 (0% increase)
Median Price $186,900 (6% increase) $203,300 (8% increase) $207,100 (2% 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 10,500 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).