When looking at housing data, it is tempting simply to compare data month-to-month in a given year, instead of comparing the data from the same month last year. However, by comparing data year-over-year, seasonal differences are minimized thereby making it easier to draw conclusions about the market conditions reflected in changes.
Comparing data from August 2012 and August 2013 from the Texas Association of Realtors, here is a snapshot of what is happening in some of San Antonio's most sought after neighborhoods. This post I am going to focus on central San Antonio neighborhoods. Look for future posts in the coming days and read about the changes in other parts of the city and beyond:
- The median home price in Alamo Heights was up from $504,000 to $519,000 with the same number of houses sold, 17.
- Homes for sale in Alamo Heights were on the market 38 fewer days, an approximate 20% decrease in time on the market.
- The housing inventory shrank from 5.9 months to 4.7 months, a 20.34% change, indicating a seller's market.
Click here to see all the homes for sale now in Alamo Heights.
- The median home price in Terrell Hills dropped from $292,000 to $244,000, a 16% decrease, with 13 houses sold, up from 8 sold same time last year.
- The number of houses that sold in Terrell Hills increased from 8 to 13 for the month of August.
- The housing inventory shrank from 8.8 months to 3.2 months, a nearly 64% change, indicating a seller's market.
Click here to see all the homes for sale now in Terrell Hills.
- The median home price in Terrell Heights decreased from $222,000 to $185,000, a 16.67% decrease, with 3 houses sold in August, up from 1 sold in August 2012.
- Homes for sale in Terrell Heights were on the market 48 more days, a 123% increase in time on the market.
- The housing inventory shrank dramatically from 28 months to 4.3 months, where you can see how Terrell Heights moved into a seller's market over the past year.
Click here to see all the homes for sale now in Terrell Heights.
- The median home price in Northwood increased from $178,000 to $314,000, a 76% increase in median price from last August, with 9 houses sold, up from 7 last year.
- Homes for sale in Northwood were on the market 16 fewer days, a 21% decrease in time on the market.
- The housing inventory decreased from 4.9 months to 2.2 months, an approximate 55% decrease, indicating a seller's market.
Click here to see all the homes for sale now in Northwood.
- The median home price in Monte Vista decreased from $600,000 to $316,750, an 47% change, with 4 houses sold, twice as many as last year.
- Homes for sale in Monte Vista were on the market 28 days fewer, a 24% increase.
- The housing inventory in shrank from 22.5 months to 5.5 months, a 75.5% change, indicating a seller's market.
Click here to see all the homes for sale now in Monte Vista.
- The median home price in Mahncke Park rose from $153,500 to $275,625, a 79.5% increase, with only one house sold, half as many as last year.
- Homes for sale in Mahncke Park were on the market 27 fewer days, a 39.7% decrease in time on the market.
- The housing inventory remained steady at 5 months, no change from last year.
Click here to see all the home for sale now in Mahncke Park.
- The median home price in King William rose from $250,000 to $271,000, a 8.4% increase, with only 1 house sold, down from 4 same time last year.
- Homes for sale in King William were on the market 81 fewer days, a 58% decrease in time spent on the market.
- The housing inventory in King William increased from 3.8 months to 5 months, still indicating a seller's market.
Click here to see all the homes for sale now in King William.
Check back in a few days for more market anaylsis of other San Antonio neighborhoods. If you would rather not wait and you do not see your desired neighborhood listed in this post, please contact Jennifer Perloff for a detailed market analysis of any San Antonio or surrounding neighborhood. To get a complimentary analysis of your own home's market value, please contact Jennifer.
