The May housing numbers are in for the San Antonio area, and the market continues to be hot. As you know, I have written about the housing market in San Antonio's older, north central neighborhoods which have been hot throughout 2013. In this post, I present data showing that several more San Antonio communities are becoming seller's markets.
According to the Texas Association of Realtors' data comparing May 2012 with May 2013, here is a snapshot of what's happening in some of San Antonio's most sought-after neighborhoods:
- The median sold price for homes sold in Shavano Park rose nearly 59% to $757,500.
- Homes for sale in Shavano Park were on the market for an average of 145 days, a nearly 20% decrease.
- The inventory for homes for sale in Shavano Park shrank from 13 months to 4 months, a 69% decrease -- making Shavano Park a seller's market for real estate.
- The median sold price for homes sold in Elm Creek rose more than 4% to $483,750.
- The inventory for homes for sale in Elm Creek shrank to under 4 months.
Stone Oak and Sonterra (Zip Code 78258)
- The median sold price for homes in 78258 remained flat between May 2012 and 2013.
- Homes for sale in Stone Oak were on the market 56 days fewer than in 2012, representing a 35% decrease in the number of days on the market.
- There is currently a less than 3 month supply of homes for sale in 78258 -- a a 48% decrease in homes available since May 2012.
- The median sold price for homes in Encino Park remained flat between May 2012 and 2013.
- Homes for sale in Encino Park were on the market 3 months less than a year earlier, meaning that homes for sale sold in an average of 31 days.
- The housing inventory in Encino Park has decreased from a nearly 8 month supply in May 2012 to 45 days -- a nearly 80% decrease in the housing inventory in this neighborhood.
- For neighborhoods such as Inwood and Deerfield, the housing inventory has fallen to 2 months or less.
- Homes for sale in Inwood were on the market for only 94 days in May 2013.
- Homes for sale in Deerfield were on the market for only 112 days in May 2013.
Visit RealLuxury San Antonio to browse homes for sale in these great neighborhoods. Contact Jennifer Perloff for complimentary, customized reports covering home values, neighborhoods and school districts in any neighborhood in the San Antonio area.