San Antonio Real Estate Market Report May 2008
June 21, 2008
Sales may be down from years past but then again we are comparing 2008 to the best couple of years in San Antonio’s housing market history. With a low unemployment rate, job growth, increase in population and overall healthy local economy, we are pretty good shape compared to other U.S. cities.
Sales for Single Family homes dropped 24 percent in May 2008 to 1,821 compared with 2,388 sales in May 2007, according to the San Antonio Board of Realtors.
But home prices still continue to appreciate, as the median price rising 4 percent to hit $155,100 from $149,100 and the average price also increased by 4 percent to $191,151 from $183,065 from the same time last year.
In addition the average price per square foot for the San Antonio Market increased 10 percent to $91 from $83 last year. Average Days On Market(DOM) is at 87 days and San Antonio MLS had a total of 12,962 active listings at the end of May 2008.
Source: SABOR
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