San Antonio home sales continue climbingSan Antonio home sales continue climbinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=17212015-02-17T10:53:00Z2015-02-17T00:00:00Z

SAN ANTONIO - Home sales continued their year-over-year climb with 1,428 sales in January — a 4.8 percent increase from January 2014 — according to data compiled by the San Antonio Board of Realtors.

Experts continue to point to low interest rates and job growth to explain the continual increase in sales. However, a tight inventory of existing homes plays a part, too.

The housing inventory rose slightly to 3.6 months — still well below a balanced market.

Because there are not a lot of existing homes on the market, the median price increased from $161,900 in January 2014 to $176,700 in January 2015 — a 9.1 percent bump. As a result, of the 1,428 homes sold in January, 96.8 percent of sales were sold at list price, meaning there was not much room for negotiation.

The average days on market also decreased by three days to 74 days in January, as compared to January 2014.

Additionally in January, 59.2 percent of all sales were homes priced less than $200,000, 37.3 percent homes priced between $200,000 and $500,000 and 3.4 percent priced at $1 million or more.

San Antonio Home Sales Recap
  January 2013 January 2014 January 2015
# Homes Y-O-Y
# Homes Y-O-Y
# Homes Y-O-Y
Total Month Sales 1,255 24% 1,363 7% 1,428 5%
Average Price $184,403 4% $194,312 6% $212,222 9%
Median Price $151,100 3% $161,900 7% $176,700 9%

Read more at the San Antonio Express-News.

Visit the San Antonio Board of Realtors (SABOR) Media Newsroom for more data.

San Antonio Express-News
San Antonio-New Braunfels
http://www.expressnews.com/real-estate/article/Homes-sales-continue-climbing-6078285.phpRead more at {Source}

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