Today is the deadline for Bexar County residents to file their appeals of their 2018 property valuations, and if you want to know why your property value is skyrocketing, just look at the latest home sales figures from the San Antonio Board of Realtors, News Radio 1200 WOAI reports.
The number of homes sold in the metro in April was up 17% from April of 2017.
98% sold for the asking price, and there are starting to be reports of bidding wars which drive the final price even above the asking price.
One San Antonio City Council members has reported cases in her district where people knock on doors of random homes and ask if they are for sale.
The higher demand is generally due to the strong economy, with more people moving to the city, and more current residents able to afford a bigger home.
The average home sold in April of 2018 went for $255,952, up 2% from last year.
"Higher prices encourage more owners to put their homes on the market, adding much needed supply to our inventory," SABOR CEO Gilbert Gonzalez said.
SABOR points out that despite the strong local market, the average price of a home sold in San Antonio last month remains below the statewide average home sales price of $286,000.
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