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Local Real Estate Market Surging

Local Real Estate Market Surging

Home sales in metro San Antonio stayed strong in August, with the average home on the market just 69 days last month, 1200 WOAI news reports.

 

  2413 homes were sold in the metro area in August, according to the San Antonio Board of Realtors, that is up 15% from August of 2012.

 

  "August as another outstanding month for the San Antonio market, and it's no surprise as we have seen steady gains in sales and prices since the beginning of 2012," said Steven Gragg, the SABOR President.

 

  Gragg says the strong home sales market is now affecting even high end homes.

 

  "Since February, homes prices over $500,000 have edged close to or gone over four percent of total homes sold,' Gragg said.  "Usually that number is closer to three percent."

 

  SABOR says home sellers today are getting 97% of their listing price.

 

  Home sales across Texas hit an all time high in the second quarter, with the highest figures for media and average price ever seen in Texas real estate.

 

  SABOR credits the strong local economy and continued relatively low mortgage rates for the real estate surge.

 

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