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Local Housing Market Started 2014 Strong

Local Housing Market Started 2014 Strong

  The San Antonio Board of Realtors says the surging market that set records in 2013 moved into the new year equally strong, 1200 WOAI news reports.

 

  SABOR Chairman Missy Stagers says the 1,348 homes sold in Bexar County in January, which is usually a slow month for housing sales, was up 7% from January of 2013.

 

  "December 2013 closed out biggest sales year since 2006, so it is no surprise that January of 2014 showed an increase," she said.

 

  Stagers said it is the growing local economy, which is attracting workers to the city, which is responsible for the housing market strength.

 

  The best measure of the strength of a local housing market is the inventory of homes for sale.  In January the housing inventory fell to 4.1 months in January.  An average hosing inventory is considered to be 6.5 months, with anything shorter considered a boom market.

 

  "The winter months can be a slower sales time in housing, but this year we have been experiencing tremendous growth and expect to continue that trend as winter winds down and we enter the spring buying season," Stagers said.

 

  The average price of homes that are being sold in all price ranges also continues to rise.  The average price in January was $194,701, up from $184,000 in January of 2013.  The median price, the point at which half of the homes sold were more expensive and half were less expensive, was also up to $161,000.

 

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