SA Housing
9:50 am
Wed April 17, 2013

Price Of Average Home In San Antonio Continues To Rise

In a report from the San Antonio Board of Realtors, the average price of a home has increased over the past three years up to $194,000 as of last month.

Angela Shields, president of the San Antonio Board of Realtors, said the number of days a house is on the market is decreasing, another sign that the market is improving for sellers.

"That number is 90 days, so it's taking less time right now to actually sell a home," Shields said.

Shields said interest rates for homes are very low levels right now, and according to Freddie Mac, a 30-year fixed-rate loan dropped below 3.5 percent, and 15 year loans are below 2.7 percent.

"Houses are at a point where people can afford, with that low interest rate, to be able to get into homes where maybe in the past they have been thinking about whether or not they could afford it or not. These new interest rates are really helping people to get into that home," Shields said.

The number of homes sold during the month of March for the past three years has increased by about 200 ending at 1800 last month.