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.
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