September 14, 2017 Comments Off on Home Sales, Prices Increase – Inventory Remains Low Views: 1100 San Antonio, Texas News

Home Sales, Prices Increase – Inventory Remains Low

San Antonio’s local housing market experienced decided increases in number of sales and average home prices. Meanwhile, monthly inventory continues to remain low, according to a report from the San Antonio Board of Realtors (SABOR) for the month of August. The total number of houses sold was 2,984, a 2% increase year over year, while the average home price was $252,613, representing a 3% increase over the August 2016 figures.

Meanwhile, inventory continued low, at 3.6 months. Months of inventory has remained below four months for nearly two years. Still, new houses continue to come on the market; the month of August ended with 2,260 sales still pending.

“Not only did the total number of sales continue to rise compared to 2016, but August also had the lowest days on market than any other month this year, with just 48 days,” said Yvette Allen, SABOR’s 2017 Chairman of the Board.

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