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| San Antonio Homes Market |
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San Antonio Market Continues to Set Records
| The San Antonio housing market continues to grow at a rapid pace and set new sales records. Year to date sales are already on track to break the record number of sales recorded just last year. Additionally, the Real Estate Center reported that in the San Antonio market new monthly records were set in: number of homes sold, total dollar volume of transactions, median price, and average price.
There were 1,758 properties sold in the month of April compared with 1,695 sold at this time last year, a difference of 3.7 percent. The Real Estate Center at Texas A&M also reported the sale of 6,168 properties in the first four months of 2005, a sales pace which is 8.2 percent faster than last years record breaking pace.
The dollar volume of transactions set a new high for the month of April when it surpassed $263 million. This 13 percent increase in dollar volume can primarily be attributed to the appreciation of home prices and the hotter San Antonio housing market.
The median price in this market continues to rise and did reach $125,300 this April, an increase of 11.4 percent last year. Despite the increase from last years numbers, home prices in San Antonio still remain significantly below the national average of $193,600 and slightly below the state average of $131,900.
The good news is that we are entering the summer housing market, which has always been the powerhouse of the home sale market. Lower than expected mortgage rates should keep the market strong in the coming months and we will likely see another record sales year for the San Antonio market.
Source: Real Estate Center at Texas A&M |
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