San Antonio housing market heats up for summer

SAN ANTONIO - The housing market is gaining momentum, according to the latest analysis by the San Antonio Board of Realtors (SABOR). A total of 2,480 homes were sold in May 2013 — the highest monthly number of homes sold in five years.

As of May 2013, the average number of days a home spent on the market had dropped to a low of 78 days.

The 2,480 home sales reported for May 2013 represent a 31 percent increase from the 1,899 homes sold in May 2012.

The average price of a home sold in May 2013 was $216,940 — a 10 percent increase from the average price of $198,091 in May 2012. The median price of a home stood at $174,000 in May 2013 — up 7 percent from the median price of $162,200 reported for May 2012.

While the majority of homes sold continue to be priced below $200,000, the market is also seeing an increase in the number of higher-end home sales. “We had a jump in sales of homes over $500,000, with those transactions accounting for nearly 5 percent of the sales instead of their usual 3 to 4 percent,” said Angela Shields, CEO for SABOR.