According to the San Antonio Board of REALTORS (SABOR), the 2013 housing data shows that this past year was the strongest real estate market in San Antonio since 2006. In 2013, 23,910 houses sold in San Antonio, an impressive 17% increase in number of houses sold compared with 2012. The average and median home prices also rose. The average price for homes rose 7% to $207,884 and the median price for homes sold rose 6% to $170,200.
Additionally, 2013 was a great year for luxury home sales in San Antonio. According to the Texas Association of Realtors' 2014 Luxury Home Report, San Antonio was one of four major Texas markets to experience double-digit growth in the sale of $1 million+ homes. According to data from the Real Estate Center at Texas A&M University, Austin, Houston, Dallas-Fort Worth and San Antonio all recorded record high luxury home sales in 2013.
In Austin, 439 luxury homes were sold between January and October 2013. Luxury home sales made up 1.9 percent of the total housing market, but were the fastest-growing price class by far with a 55 percent increase from the same period in 2012.
Houston leads the $1million+ housing market with 1,060 luxury homes sold between January and October 2013. Luxury home sales in Houston made up 1.7 percent of the total housing market, but were the second fastest-growing price class with a 46 percent increase from the same period in 2012.
The Dallas-Fort Worth came in second, with 809 luxury homes sold between January and October 2013. Luxury home sales in Dallas/Fort Worth made up 1.1 percent of the total housing market and experienced a 22 percent increase in sales compared to the same period in 2012.
In San Antonio, 86 luxury homes were sold between January and October 2013. Luxury home sales made up only 0.1 percent of the total housing market. However, this number represents an 18 percent increase in sales compared to the same period in 2012. Today, according to the San Antonio Board of REALTORS multiple listing service, there are 243 active listings for homes $1 million+.
While the luxury sales in San Antonio are smaller than other major Texas markets, we have seen significant growth in the sale of homes over $500,000. According to SABOR, December 2013 had the highest percentage of sales in that price bracket, with homes $500,000+ making up 4.66% of the total 1,760 homes sold last month.
In San Antonio, homes priced under $200,000 made up the largest portion with 61.76% of sales. Homes priced between $200,000 and $500,000 accounted for 33.52% of the total homes sold in the San Antonio area.
Check back in a few days for a more detailed market analysis of San Antonio by area and neighborhood. To get a complimentary market analysis of your own home's value, please contact Jennifer Perloff. Moving to San Antonio? Look for future posts about things to consider when you move to our great city.