There was some good news on the San Antonio home sales front this summer, as prices continued their steady growth with both the average and median sales prices showing moderate increases, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR). Compared to July 2015, the average home price increased 3% to $246,032, with the median sales price rising 6% to $211,900.
Though home prices rose, San Antonio was still affordable; Bexar County buyers saw a reasonable median sales price of $200,000, compared to $335,000 in pricier Travis County. But that doesn’t mean buyers were in the driver’s seat in their real estate dealings. With homes selling briskly and only 3.9 months of inventory in San Antonio and the surrounding area, both buyers and sellers continued to need solid advice to negotiate the best deal.
“Typically, inventory below six months favors sellers while inventory between six to eight months is considered balanced. We’ve been experiencing a seller’s market for nearly four years in the San Antonio area,” explains Angela Shields, SABOR’s President and CEO. “With such a tight market, it’s important those looking to buy a home work closely with a REALTOR® to make sure they stay informed of the latest listings and find a home that suits their needs.”