AUGUST 2016 SAN ANTONIO HOME SALES AND ECONOMIC NEWS
This news update is compliments of Steven Gragg, Broker at Keller Williams Legacy, San Antonio.
According to the latest Texas Quarterly Housing Report, the Texas median home price is $215,000, the average days on the market is 54, there is 3.7 month of inventory. In the San Antonio MLS area, the median home price is $205,000, the average days on the market is 55, and there is a 3.7 months inventory.
According to the latest report, the U.S. Labor Market has revved up, adding 255,000 jobs since the last report. The US unemployment rate remains at 4.9%. According to the Bureau of Labor Statistics’ June 2016 report, the San Antonio metropolitian area’s unemployment rate is 4.0%.
Demand for apartments in the San Antonio area is still rising. The average apartment rent in San Antonio is $933. There are 5000 more units coming online this year (2016) and another 3200 planned are planned for next year. Rent rates on the far northwest side of San Antonio and Bexar County side average $1238. The inventory of apartments on the northwest side has increased 64.6% since 2012.
If you’re looking to buy or sell a San Antonio area home soon, we offer our services. Call us at (210) 863-2661 or (210) 867-8743. We’re Stephanie and Randy Kelley, award winning Realtors® of the Legacy Powerhouse Group at Keller Williams Legacy, San Antonio, Texas (210) 482-3202.