On July 15, the San Antonio Board of Realtors (SABOR) announced that San Antonio home prices hit their 2013 high in June. Tracking June numbers for 2011, 2012 and 2013, SABOR also showed that home prices have steadily increased over the past three years in San Antonio. The median price over these three years has increased from $156,500 in 2011 to $180,400 in 2013; and average home prices have increased from $192,514 in 2011 to $221,168 in 2013.
There have been some recent reports suggesting that (nationally, at least) the housing market is moderating. The July housing data from The Texas Association of Realtors (TAR) is ambiguous: Prices are stabilizing but inventory contiues to decrease. Comparing data from July 2012 and July 2013, here is a snapshot of what is happening in some of San Antonio's most sought after neighborhoods:
- The median home price in Alamo Heights was down from $444,500 to $395,000.
- Homes for sale in Alamo Heights were on the market 51 fewer days, an approximate 35% decrease in time on the market.
- The housing inventory shrank from 6.9 months to 4.9 months, a 29% change, indicating a seller's market.
- The median home price in Terrell Hills rose from $427,500 to $608,500, a 42.3% increase.
- Homes for sale in Terrell Hills were on the market 133 fewer days, a 38.4% decrease in time on the market.
- The housing inventory shrank from 8.3 months to 5.6 months, a 32.5% change, indicating a seller's market.
- The median home price in Terrell Heights rose from $190,000 to $249,000, a 31% increase.
- Homes for sale in Terrell Heights were on the market 49 fewer days, a 42.6% decrease in time on the market.
- The housing inventory rose somewhat from 3.4 months to 4.5 months, but is consistent with a seller's market.
- The median home price in Northwood remained steady from $350,000 to $352,500.
- Homes for sale in Northwood were on the market 100 fewer days, a 75% decrease in time on the market.
- The housing inventory decreased from 8.8 months to 5.3 months, an approximate 40% decrease, indicating a seller's market.
- The median home price in Monte Vista decreased from $405,000 to $358,750, an 11.42% change.
- Homes for sale in Monte Vista were on the market 49 days longer, a 68% increase.
- The housing inventory in shrank from 6.8 months to 3.7 months, a 46% change, indicating a seller's market.
- The median home price in Deerfield rose from $255,000 to $361,000, a 41.6% increase.
- Homes for sale in Deerfield were on the market 18 days longer, a 38% increase.
- The housing inventory shrank from 17 months to 6.5 months, an approximate 62% decrease, getting Deerfield close to a seller's market.
- The median home price in Inwood decreased from $435,700 to $381,675, a 12.4% decrease.
- Homes for sale in Inwood were on the market 27 fewer days, a 43.5% decrease in time on the market.
- The housing inventory rose from 2.2 months to 7 months, nudging Inwood out of a seller's market.
- The median home price in the Heights of Stone Oak decreased from $295,840 to $229,900, a 22.3% change.
- Homes for sale in the Heights of Stone Oak were on the market 24 fewer days, a 26.37% decrease in time on the market.
- The housing inventory shrank from 4.9 months to 2.7 months, a 44.9% decrease, indicating a continued seller's market.
- The median home price in Encino Park rose from $198,000 to $231,250, a 16.8% increase.
- Homes for sale in Encino Park were on the market 98 fewer days, a 66.67% decrease in time on the market.
- The housing inventory shrank from 3.1 months to 2.5 months, indicating a continued seller's market.
Rogers Ranch
- The median home price in Rogers Ranch rose from $334,389 to $385,000, a 15% increase.
- Homes for sale in Rogers Ranch were on the market 43 fewer days, a 38.74% decrease in time on the market.
- The housing inventory rose from 2.9 months to 4.6 months, a 58.6% increase, but still keeping Rogers Ranch in a seller's market.
If 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.
