The local housing market continues to be strong, with the average home that sold in September in Bexar County on the market for just 70 days, and 97% of homes sold in metro San Antonio last month selling for the list price, 1200 WOAI news reports.
"We have seen our inventory getting smaller and smaller all year, making this more of a competitive market," said Steven Gragg, Chairman of the San Antonio Board of Realtors.
The average price of a metro San Antonio home sold in September was just under $206,000. That is up from $193,000 in September of 2012 and $189,000 in 2011.
SABOR credits the solid local job market, the low local interest rates, and the fact that even though interest rates have ticked up lately, they are still at historic lows, and most people can get a mortgage for less than 5%.
Metro San Antonio and Texas also has fewer people on the other end. Realty Trac says the number of Texas homes in foreclosure in September fell by 44%, far more than the national average of 29%.
The sale of high end homes is also picking up, as homes between $200,000 and $500,000 accounted for nearly 34% of all sales in September, and homes over $500,000 accounted for nearly 4%.