January has only 828 sales, lowest in 9 years
February 25, 2009
January 2009 was the first time home sales in San Antonio were below 1000 since January 2002. The 828 sales were also the lowest number of sales since January 2000’s 820 sales. These were 32.96 percent lower than January 2008. This is the largest one year drop off in the entire period shown in the table. It is also a drop of 41.73 percent from January 2007. This is second only to November 2007 had a 44.55 percent drop.
The mean and median prices for homes in San Antonio were higher than their 2008 counterpart. The average price was $185,000, which was 7.87 percent higher than 2008. The median price was $143,800, which was 2.42 percent higher than 2008. Although the number of homes has dropped off substantially, it appears the homes sold are the more expensive ones.
San Antonio Market Stats for Dec 2008
January 28, 2009
December 2008 was San Antonio’s tenth straight month of double-digit percentage loss in number of home sales in 2008. There were 20.08 percent fewer homes sold in December 2008 than in December 2007, which is a difference of 339 homes. The 1349 homes sold was also the fewest number of homes sold in the market, excluding November, since January 2008, and the third fewest in the entire two year snapshot illustrated below.
The two year picture is worse. December 2008 was 32.95 percent behind December 2006, which is the difference of 663 homes. This drop also continues a trend of double digit fall off from each month’s 2006 counterpart since February, which posted a 9.38 percent drop, so it was not a healthy month either.
Home prices have also fallen from last December. The average price is $176,500, which is a drop of 2.86 percent, or $5200. This is the lowest average price since February 2008. The median price is $139.500, which is 6.12 percent below December 2007’s median price of $148,600. The median price is the lowest since April 2006.
Only two price range divisions saw any increase in sales between 2007 and 2008. Homes under $29,999 went from being 1.2 percent of the market in 2007 to 2.4 percent of the market in 2008. They doubled their market share, and increased their number of sales by 61.86 percent, or 178 homes. Those homes in the $30s also increased by 5.83 percent in the number of sales, a real difference of about 18 homes.
Every other price range showed a drop of at least 10 percent, with an average 19.94 percent drop in the number of sales for homes priced about $40,000. The largest drop occurred for homes priced in the $60s and $70s. Both categories dropped by 27.17 percent. Even categories, such as homes priced $200,000 and above, which increased their market shares had drops in real sales. For example, homes priced from $300,000 to $399,999 went from 6 to 6.3 percent of all sales in San Antonio, but they still lost 15.03 percent of real sales, or 216 actual home sales.
The San Antonio Real Estate Market Has the Lowest Sales Since January 2004
January 7, 2009
| Year | Month |
Sales |
% 1 Year Change | % 2 Year Change | Average Price | % 1 Year Change2 | Median Price | % 1 Year Change | Total Listings |
|
2006 |
Jan |
1,420 |
$156,900 |
$130,400 |
7,905 |
||||
|
2006 |
Feb |
1,705 |
$156,800 |
$130,400 |
7,846 |
||||
|
2006 |
Mar |
2,354 |
$162,500 |
$135,900 |
8,134 |
||||
|
2006 |
Apr |
2,070 |
$163,300 |
$135,800 |
8,238 |
||||
|
2006 |
May |
2,557 |
$172,100 |
$140,800 |
8,397 |
||||
|
2006 |
Jun |
2,812 |
$177,700 |
$147,500 |
8,447 |
||||
|
2006 |
Jul |
2,568 |
$178,800 |
$146,100 |
8,675 |
||||
|
2006 |
Aug |
2,547 |
$172,300 |
$143,300 |
8,889 |
||||
|
2006 |
Sep |
2,245 |
$167,300 |
$139,100 |
9,169 |
||||
|
2006 |
Oct |
1,960 |
$168,900 |
$137,900 |
9,563 |
||||
|
2006 |
Nov |
1,919 |
$168,500 |
$141,700 |
9,431 |
||||
|
2006 |
Dec |
2,012 |
$177,400 |
$147,500 |
9,101 |
||||
|
2007 |
Jan |
1,421 |
0.07% |
$169,200 |
7.84% |
$142,400 |
9.20% |
9,696 |
|
|
2007 |
Feb |
1,701 |
-0.23% |
$175,800 |
12.12% |
$143,100 |
9.74% |
10,388 |
|
|
2007 |
Mar |
2,139 |
-9.13% |
$173,800 |
6.95% |
$145,700 |
7.21% |
10,785 |
|
|
2007 |
Apr |
2,107 |
1.79% |
$180,400 |
10.47% |
$145,000 |
6.77% |
11,563 |
|
|
2007 |
May |
2,478 |
-3.09% |
$180,400 |
4.82% |
$147,200 |
4.55% |
12,256 |
|
|
2007 |
Jun |
2,443 |
-13.12% |
$193,200 |
8.72% |
$157,200 |
6.58% |
12,718 |
|
|
2007 |
Jul |
2,372 |
-7.63% |
$184,700 |
3.30% |
$152,300 |
4.24% |
12,946 |
|
|
2007 |
Aug |
2,409 |
-5.42% |
$186,800 |
8.42% |
$151,500 |
5.72% |
12,857 |
|
|
2007 |
Sep |
1,885 |
-16.04% |
$178,100 |
6.46% |
$146,600 |
5.39% |
12,884 |
|
|
2007 |
Oct |
1,722 |
-12.14% |
$172,300 |
2.01% |
$144,400 |
4.71% |
13,103 |
|
|
2007 |
Nov |
1,591 |
-17.09% |
$176,000 |
4.45% |
$145,000 |
2.33% |
12,578 |
|
|
2007 |
Dec |
1,688 |
-16.10% |
$181,700 |
2.42% |
$148,600 |
0.75% |
11,843 |
|
|
2008 |
Jan |
1,235 |
-13.09% |
-13.03% |
$171,500 |
1.36% |
$140,400 |
-1.40% |
12,368 |
|
2008 |
Feb |
1,545 |
-9.17% |
-9.38% |
$170,600 |
-2.96% |
$142,900 |
-0.14% |
12,631 |
|
2008 |
Mar |
1,723 |
-19.45% |
-26.81% |
$179,900 |
3.51% |
$147,900 |
1.51% |
13,091 |
|
2008 |
Apr |
1,744 |
-17.23% |
-15.75% |
$185,100 |
2.61% |
$152,300 |
5.03% |
13,479 |
|
2008 |
May |
1,909 |
-22.96% |
-25.34% |
$186,800 |
3.55% |
$151,700 |
3.06% |
13,640 |
|
2008 |
Jun |
2,093 |
-14.33% |
-25.57% |
$193,600 |
0.21% |
$157,800 |
0.38% |
13,871 |
|
2008 |
Jul |
1,888 |
-20.40% |
-26.48% |
$184,700 |
0.00% |
$153,300 |
0.66% |
14,088 |
|
2008 |
Aug |
1,792 |
-25.61% |
-29.64% |
$184,600 |
-1.18% |
$150,300 |
-0.79% |
13,814 |
|
2008 |
Sep |
1,649 |
-12.52% |
-26.55% |
$177,000 |
-0.62% |
$144,400 |
-1.50% |
13,618 |
|
2008 |
Oct |
1,396 |
-18.93% |
-28.78% |
$185,300 |
7.54% |
$144,000 |
-0.28% |
13,541 |
|
2008 |
Nov |
1,064 |
-33.12% |
-44.55% |
$177,300 |
0.74% |
$140,600 |
-3.03% |
13,137 |
San Antonio has seen declining sales since May 2007. The largest one year decline occurred in November 2008. The number of homes sold dropped to 1064 from 1591 in November 2007, or 33.12 percent. November was also the largest drop looking at two-year differences. November 2008 saw 44.55 percent less sales than November 2006. Every month was at least 9.4 percent lower than its 2006 counterpart, though the average loss was 24.72 percent.
Mean home prices are about where they were last November, actually up about a quarter of a percent to $177,300, but the median home price dropped by 3.03 percent to $140,600. By breaking down the sales into price categories, one can see the number of extremely low priced homes has gone up by over 50 percent, thus dragging the median down with it.
| Price Range |
Percent Distribution |
# of Sales |
|||
|
2007 |
2008 |
2007 |
2008 |
Change | |
| $29,999 or less |
1.2 |
2.4 |
287.472 |
432.912 |
50.59% |
| 30,000 - 39,999 |
1.3 |
1.6 |
311.428 |
288.608 |
-7.33% |
| 40,000 - 49,999 |
1.8 |
1.9 |
431.208 |
342.722 |
-20.52% |
| 50,000 - 59,999 |
2.3 |
2.2 |
550.988 |
396.836 |
-27.98% |
| 60,000 - 69,999 |
3 |
2.7 |
718.68 |
487.026 |
-32.23% |
| 70,000 - 79,999 |
4 |
3.6 |
958.24 |
649.368 |
-32.23% |
| 80,000 - 89,999 |
4.9 |
4.5 |
1173.844 |
811.71 |
-30.85% |
| 90,000 - 99,999 |
4.6 |
4.4 |
1101.976 |
793.672 |
-27.98% |
| Under 100k |
23.1 |
23.3 |
5533.836 |
4202.854 |
-24.05% |
| 100,000 - 119,999 |
9.5 |
9.7 |
2275.82 |
1749.686 |
-23.12% |
| 120,000 - 139,999 |
12.8 |
11.9 |
3066.368 |
2146.522 |
-30.00% |
| 140,000 - 159,999 |
11.5 |
11.5 |
2754.94 |
2074.37 |
-24.70% |
| 100-160k |
33.8 |
33.1 |
8097.128 |
5970.578 |
-26.26% |
| 160,000 - 179,999 |
9.1 |
8.8 |
2179.996 |
1587.344 |
-27.19% |
| 180,000 - 199,999 |
6.2 |
6.1 |
1485.272 |
1100.318 |
-25.92% |
| 200,000 - 249,999 |
10 |
10.3 |
2395.6 |
1857.914 |
-22.44% |
| 250,000 - 299,999 |
6.2 |
6.3 |
1485.272 |
1136.394 |
-23.49% |
| 300,000 - 399,999 |
6 |
6.3 |
1437.36 |
1136.394 |
-20.94% |
| 400,000 - 499,999 |
2.5 |
2.6 |
598.9 |
468.988 |
-21.69% |
| 500,000 and more |
3 |
3.2 |
718.68 |
577.216 |
-19.68% |
Homes priced under $29,999 increased their sales by 50.59 percent. Additionally, homes priced under $49,999 all rose in their percentage of sales, though the number of sales for all price categories drop after homes are priced above $30,000. The largest drop occurred for homes priced between $60,000 and $69,999 and those priced between $70,000 and $79,999. Both of these categories lost 32.23 percent in number of sales. Every category above $40,000, except homes above $500,000, lost at least 20 percent of sales in number. Even the category of homes priced above $500,000 lost 19.68 percent.