Alamo City housing market's March madnessAlamo City housing market's March madnesshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=128982016-04-19T05:00:00Z2016-04-19T16:00:00Z

​​​​SAN ANTONIO – More than 2,500 area homes were sold last month, a 14 percent increase from the year before, according to data from the San Antonio Board of Realtors.

Almost 4,000 listings were posted in March, an increase of more than 800 over the same month last year.

Still, housing supply was tight, rising slightly to 3.8 months from 3.6 months last year.

"It's still a very tight market—still a seller's market, if you will," even though the homebuilding industry is moving "just about as fast as it will be," said Dr. Jim Gaines, chief economist with the Real Estate Center.

The median sales price increased 6 percent to $198,700 from $186,800 last year. Prices have gone up almost every month for the last couple years. The median home price broke $200,000 for the first time last May, peaking at $202,500.

The median price statewide last month was $204,000, about $5,000 more than in San Antonio.

Homebuilders are having trouble building starter homes (those priced at about $180,000 or lower), a trend that Gaines said is happening elsewhere in the state, including in Dallas and Houston.
San Antonio Express-News
San Antonio-New Braunfels
http://www.expressnews.com/real-estate/article/San-Antonio-home-sales-stay-on-track-for-another-7249002.phpRead more at {Source}

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