LATEST SAN ANTONIO RESIDENTIAL REAL ESTATE NEWS
San Antonio home sales are booming with a 31% jump in May compared to May 2012. The May 2013 home sale total is the best in five years. Year to date, there's a 19% increase in sales. Because there's only a 5.1 month inventory of available homes, the San Antonio residential market is solidly in the seller's market category. The most recently sold listings are averaging only 78 days on the market. The best prepared homes are selling much quicker, many with multiple simultaneous offers. The median listing price is now $174,000 up 7% from last year. The most recent average sales price is $216,940 up 10%from last year. Year to date, the average sales price is up 6%. Homes over $500,000 made up 4.6% of market, which is big increase.
Lenders are foreclosing on fewer homes. Bexar county foreclosures continue to slide, receding to levels that have not been seen since 2007. In July,only 664 properties were posted for potential foreclosure compared to 1173 in July of last year. That's a highly significant 43% decline. Year to date, San Antonio has seen 5305 foreclosure postings compared to 8398 in 2012 versus 9095 in 2011. That's a huge decline and a solid indicator of the improving health of San Antonio and Bexar County home ownership.
If you need to know more about San Antonio area home buying or selling, contact Randy Kelley (210) 863-2661 or Stephanie Kelley (210) 867-8743 or visit their sanantoniohomequest.com website.
Stephanie and Randy are Realtors® at Keller Williams Legacy. They serve San Antonio, Bexar County, and the surrounding South Texas counties.
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