For the first time since 2010 the average price of a home in Bexar County has surged past the $200,000 mark, driven by strong demand and a growing lack of supply, 1200 WOAI news reports.
The San Antonio Board of Realtors reports the average sales price in April was $202,000, that's up from $179,000 in April of 2011.
"With mortgage rates and home prices remaining low, buyers can easily find something within their means without having to compromise," SABOR Chairman Steven Gragg said.
Nationally, the gain in housing prices over the last year has been the best since the peak of the boom last decade in 2006, before the housing bubble left prices collapsing.
The number of sales for the month of April was 1,998, also up sharply from April of 2012.
Last week's jobs report shows that construction activity is way up, largely construction of new homes to meet growing demand.
San Antonio's housing inventory holds stead at 5.2 months where it has hovered since February. 62% of the homes sold in San Antonio in the first four months of 2013 sold for less than $200,000. Mid range homes between $200,000 and $500,00 accounted for 33%, while 3% were homes above $500,000.
The average home spent 84 days on the market, and 96% were sold for the asking price.