Upward trend continues for San Antonio housing market

August 22, 2012

Sales, average price, median price — the numbers were up in all three categories in July, according to the latest housing market report by the San Antonio Board of Realtors (SABOR).

At the end of July 2012, the average price of a home in the San Antonio metropolitan area stood at $196,846 — marking a 2 percent increase from the average price recorded last July. The median price of a home now stands at $164,200 — a 4-percent increase from the median price as of July 2011.

“… Overall, our market remains very affordable,” says Liza Reyes, 2012 chairman of the board for SABOR. “San Antonio continues to showcase the key highlights of its market — price stability and affordability.”

Both of those highlights appear to be attracting new buyers. According to the latest SABOR report, a total of 1,904 home sales were recorded for the month of July — a 12-percent increase over the number recorded for the same month last year.

For the seven months ended July 31, 2012, owners closed on the purchases of 11,375 homes in the Greater San Antonio area. That figure represents a 7 percent increase from the number of home sales reported for the same period in 2011.

“A number of companies have opened offices in our city, creating job opportunities for area residents,” adds Angela Shields, CEO for SABOR. “That level of job growth, coupled with the fact that San Antonio is continually ranked a one of the nation’s most affordable places to live, is what positions our market to continue thriving economically.”