Home Real Estate North Side home sales remained flat in 2018

North Side home sales remained flat in 2018

On the whole, purchases increased 4 percent in SA

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While overall home sales rose during 2018 in San Antonio, across the North Side the number of houses purchased in 2018 stayed the same as the previous year at 3,082.

For the entire city and surroundings, figures based on a San Antonio Board of Realtors analysis of a full year of Multiple Listing Service data show 32,140 sellers handed over the keys, a 4 percent increase compared to 2017.

Prices also were up across the San Antonio region with a 4 percent increase in the average to $259,571 in 2018 compared to the previous year. The median price climbed 5 percent for the year to $225,600.

Meanwhile, costs tabulated for December purchases of homes across seven North Side ZIP codes analyzed by LOCAL Community News were up in five of the areas and flat in two others.

The total number of sales in the 78213, 78230, 78231, 78232, 78247, 78248 and 78249 ZIP codes were down nearly 19 percent to 203 in December 2018 compared to the same month in 2017.

A notable change in the area in December was in 78231 area, which includes the high-demand Shavano Park, where even one large sale can drive up the average for the ZIP code. With five total December sales, the average price was $503,8200, up 28 percent from December 2017, when 12 houses sold. The median price was up less than 2 percent to $287,500.

The most dramatic increase in prices in December was in the 78213 ZIP code, which includes Castle Hills. The average was up 47 percent to $228,584 and the median price rose 28 percent to $185,000.

There is some infill development in the area inside Loop 1604 from Castle Hills to Shavano Park, but much of the inventory is older, meaning renovated properties tend to move more quickly and at higher prices. Across the San Antonio-New Braunfels region, that price creep comes with demand and available inventory, making it harder to find houses for less than $200,000.

However, 2018 on a comprehensive level was a good year for San Antonio, officials said.

“We have seen the numbers maintain a constant rise throughout 2018, so it is no surprise it was another record-breaking year for our city,” said Grant Lopez, SABOR 2019 chairman. “While inventory has remained tight, hovering between 3.2 and 3.6 months, it has not discouraged buyers from getting into the market.”

The San Antonio area is still considered a highly affordable market compared to many other urban areas of Texas and the nation. Statewide, the median price of a home rose 4.4 percent to $235,000, nearly $10,000 higher than San Antonio’s median.

The number of single-family house sales in Texas rose 1.9 percent to 320,760 in 2018.

“Even though prices have risen, San Antonio’s housing market continues to be among the most affordable of the large cities in the state,” SABOR President and CEO Gilbert S. Gonzalez said in a written statement. “That affordability combined with job growth across many industries like tech, medical and military make this a desirable place to buy and sell property.”

Houses that sold for $199,000 or less, once a clear majority of the houses sold each month, held only a 39.2 percent share in 2018. Houses ranging from $200,000 to $499,000 made up 55.2 percent of houses sold for the year. Luxury homes or those with significant land value of $500,000 or more made up 5.6 percent of the market.

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