On this deadline day to protest appraised home values, there is a new indication about why those values are rising so rapidly, News Radio 1200 WOAI reports.
Despite concerns about falling housing prices in many parts of the country, metro San Antonio continues to see in increases, according to new figures from the San Antonio Board of Realtors.
The sales price of homes sold in April was up six percent, to an average price of $267,000. That is on the strength of a four percent increase in home sales compared with April of 2018.
Not long ago the average home price in the metro was under $200,000, what is considered the 'affordable' range. Now only 35% of homes sold in the local area are in that price range.
In exchange, San Antonio homes over the $500,000 mark now represent more than 6% of the market, and the metro area saw 18 million dollar listings in April.
“While inventory has remained low, it is clear more and more people are still finding homes that meet their needs which has caused this increase in home sales,” said Grant Lopez, SABOR’s 2019 Chairman of the Board. “Prices will likely continue to grow as demand increases this summer, but the good news is these prices are still more affordable than other metro areas in the state.”
SABOR points out that while metro San Antonio's average home sales price hit $267,000, in Travis County, the average price last month was $483,000, and even in Comal County, the average sales price in April was $341,000.