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Why Are San Antonio Home Sales Booming?

On Behalf of | Jul 20, 2017 | blog

Home prices are on the rise in San Antonio and nationwide. However, this has not stopped people from diving into the local real estate market in search of new homes.

According to an article from the San Antonio Business Journal, which cites a report from the San Antonio Board of Realtors (SABOR), home sales have increased by 4 percent during the first half of the year. In June alone, more than 3,000 homes sold in San Antonio.

What is causing people to look past the rising prices and shop for homes now?

 San Antonio Homes Are Competitively Priced

Despite rising prices, it is important to note that on average the price of homes in San Antonio is still less than the price of homes in other major Texas metropolitan areas. Home buyers may be able to get much more for their money here than in a place like Austin, for example.

Areas on the North Side have become particularly attractive to home buyers. In June, Timberwood Park saw the most home sales, with Fair Oaks Ranch coming in a distant second.

So How Much Are San Antonio Homes Costing?

In June, the average sale price of a San Antonio home was about $257,000. That is a five percent increase compared to June of last year. However, despite rising prices, there are definitely reasonably priced homes to be had. About 40 percent of June home sales involved a selling price of less than $200,000. The majority of sales were in the $200,000 to $500,000 range, with a few coming in with a selling price over $500,000.