In June, housing prices hit the highest point for the year while home sales continued to rise.
The median price for an existing home in the San Antonio area jumped 6 percent to $180,400, according to data from the San Antonio Board of Realtors. For the year, the median price for a single-family home is $167,300, a 5 percent increase compared to last year.
High demand coupled with tight supply continues to push up prices. Currently, there is 5.1 months of inventory on the market. Inventory less than six months points to a seller's market, where demand outweighs supply.
Home sales grew 12 percent during the month to 2,315. Not only were there more sales, but homes spent an average of only 73 days on the market ? the lowest mark so far this year.
vlucio@express-news.net
Source: http://www.mysanantonio.com/real-estate/article/Home-prices-and-sales-continue-to-rise-4665957.php
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