By Pilar Arias
Summer hasn’t officially started but the Alamo City’s housing market continues heating up.
The latest report from the San Antonio Board of Realtors show an 11 percent increase in home sales over last year and an increase in home prices.
SABOR chairman of the board Yvette Allen said the current trend shows a seller’s market.
“We sold 3,133 (in May), which is great. Our average price increased five percent over this time last year,” Allen said.
The majority of homes sold were priced between $200,000 to $500,000. In May, nearly 98 percent of homes sold for list price, and homes spent just 55 days on the market.
Allen talked about why she believes San Antonio is so desirable.
“We have a lot of people moving in from all around. Of course, we have our military but we have other people that know San Antonio is affordable and jobs,” Allen said. She said the housing boom is happening city wide and even in nearby suburbs, not just one particular part of town.
Allen does recommend if you see a home you like, act fast.
“We’re in such a competitive market that you can’t take the evening to think about it,” she said.