Every Sunday in the Real Estate Section of the San Antonio Express-News, you'll find a table of home sales statistics. (Click here to see a copy of recent tables.) The table reports the most recent past month's stats available and is derived from data provided to the newspaper by SABOR (San Antonio Board of Realtors). Last Sunday the January 2015 stats came out.
Here's a couple noteworthy items in comparing January 2014 stats with those of January 2015:
--Areas 6, 9, 10 and others decreased in the number of new listings.
This may be because many people have already taken advantage of the recent trends in the market. For example Area 6, which includes the Hollywood Park subdivision, had a 5.61% increase in price per square foot* in January 2015 over the previous year.
--Area 13 (Alamo Heights and surrounding) had a decrease in price per square foot* of $20!
This price drop may be because of houses coming to market that would ordinarily been difficult to sell. For example, houses needing maintenance or houses lacking kitchens and baths upgraded from the original 1960's and early vintage.
Note also, however, that the median sales price remained the same year-over-year while the number of active listings increased. To me this means that the lower price per square foot would not be unlikely to affect desirable properties.
Looking at these stats, one can see that we are getting into a very, very tight market. SABOR's January Housing Market report places inventory at 3.6 months, and we're not even in the most active part of the year for real estate!
*I like to think in price per square foot because it helps compare prices regardless of house size; but, as noted in my musings above about the decrease in Area 13, the comparison only holds so long as the quality, location, and other factors are similar.