2017 record year for San Antonio housing market

​SAN ANTONIO – The area’s growing economy propelled the local housing market to another record sales year in 2017, but the supply of homes on the market remains extremely tight.

Home sales in the San Antonio-New Braunfels metro area increased by 3.8 percent in 2017 to a record 30,715, up from 29,596 in 2016, according to data released from the San Antonio Board of Realtors.

The median sales price climbed 4.9 percent to a record high of $214,300, up from $204,300 the year before. 

High demand, a labor shortage and rising construction costs are driving up prices, experts say.

The local area’s inventory of available homes dropped to 3.1 months in December, which matches the record low set in December 2016.