SABOR-(San Antonio Board of Realtors), celebrates 100 years this year, with the kick off our Housing Market Forecast today -at J.W. Marriot Resorts and Spa, with record attendance... While there was a TON of great information offered "all in," Dr.Mark Doutzor, real estate economist, previous professor at Texas A&M University- again brought the big picture of our overall economy close to home... Dotzour's confidence and bullish outlook are encouraging, resonating key attributes that continue to make the Texas brand compelling. Dotzour leans in with, "We are playing ball in the 7th inning, I'm not "Polyanna"-I don't get paid to tell you good news..." Obviously this sounds a bit ominous, yet Dotzour rallies, "We have had a few recessions where Texas chose not to participate-3 things lead the economy, job growth, cheap money, and appreciation." The preceding formula currently constitutes the overall "S.A." (situational analysis) of S.A.-where Dotzour believes that interest rates, (based on the 10 year treasury) will not increase as much as the press suggests, if significant at all.. Nor does oil, or performance of our stock market predicate the success of our entire economy, which is diverse and well stabilized for continued growth. Dotzour continues,"We must be the calm in any storm..." The key point Dotzour illustrates that I most align with, is that we should not listen to everything we hear on the news or TV-which typically focuses on despair, and decline. The imprint magnified overall today, is that continued focus, preparation and energy for all our improvements thus far, and forthcoming-combined with our trademark spirit and trust in the stock of our state-will allow us to continue to overcome any "roadblocks" in our economy, or otherwise... Dotzour highlighted a famous quote by golfer Lee Trevino that seems to be a fitting close to his presentation, and everyone else-where golf is often used as a metaphor for the course of life and business. "You can talk to a fade, but a hook won't listen." Here's to a New Year of many more ACED HOOKS in 2016! All the best, JD.

1. Market Update for
San Antonio &
Surrounding Areas:
January – November, 2015

2. 0
5,000
10,000
15,000
20,000
25,000
30,000
Number
of Sales
Annual Sales Trends
(January – November 2015)
2011 2012 2013 2014 2015 Source:
MLS

3. 12,200
12,400
12,600
12,800
13,000
13,200
13,400
NUMBER OF SALES BY PRICE
RANGE
($0-$199,999 – JANUARY - NOVEMBER)
# of
Sales
Source:
MLS
2013
2014
2015
13,317
13,202
12,622

4. 0
2,000
4,000
6,000
8,000
10,000
12,000
NUMBER OF SALES BY PRICE
RANGE
($200,000 - $499,999 - JANUARY - NOVEMBER)
# of
Sales
Source:
MLS
2013
2014
2015
10,501
7,388
8,609

5. 0
200
400
600
800
1000
1200
NUMBER OF SALES BY PRICE
RANGE ($500,000 AND ABOVE
JANUARY thru NOVEMBER)
# of
Sales
Source:
MLS
2013
2014
2015
1,166
881
992

6. Jan Feb Mar April May June Jul Aug Sept Oct Nov
MONTHS OF INVENTORY BY YEAR
Months
of
Inventory
Source: Texas A&M Real
Estate Research CenterMonth
2012
2013
2014
2015
Nov. 2015 –
Months of
Inventory:
3.6 months

7. 0
2,000
4,000
6,000
8,000
10,000
12,000
Jan Feb Mar April May June Jul Aug Sept Oct Nov
NUMBER OF MONTHLY ACTIVE
LISTINGS BY YEAR
Month
# of
Active
Listings
Source:
MLS
Nov. 2015 –
Number of
Active
Listings is
8,191
2012
2013
2014
2015

8. 0
10
20
30
40
50
60
70
80
90
Nov '12 Nov '13 Nov '14 Nov'15
Days on Market
(November)
Source:
MLS
83
75 68
61

9. $0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
YTD MEDIAN SALES PRICE PER YEAR
(JAN - NOV)
Source:
MLS
2011 2012 2013 2014 2015

10. Top 5 Areas for Sales
(January – November)
2015 2014 2013
Area Median Sales Area Median Sales Area Median Sales
2705 $204,975 1,371 2705 $189,900 1,179 0200 $132,000 1,132
0200 $150,000 1,260 0300 $139,900 1,133 0300 $67,738 1,096
1700 $138,000 1,189 0200 $140,000 1,132 2705 $185,000 1,005
0300 $148,500 1,105 0400 $159,000 986 1700 $112,500 989
0400 $175,000 1,030 1700 $121,500 949 0400 $150,000 975

11. Top 5 Areas for Median Price
(January – November)
2015 2014 2013
Area Median Sales Area Median Sales Area Median Sales
1003 $603,500 98 1003 $613,750 96 2510 $625,000 5
2506 $510,000 91 2506 $510,000 71 1003 $567,500 90
2611 $500,000 29 2507 $406,000 35 2614 $463,000 47
1004 $448,667 55 1004 $405,000 61 1004 $433,740 61
2509 $435,000 2 2611 $392,500 36 2502 $391,000 96

12. PRICE/SQ. FT. PER SUBDIVISION
January - November
Subdivision # Sales
2013
# Sales
2014
# Sales
2015
Price/Sq
Ft 2013
Price/Sq
Ft 2014
Price/Sq
Ft 2015
Alamo
Heights
139 111 114 $206.22 $219.65 $219.08
Alamo
Ranch
294 324 399 $96.99 $102.62 $101.32
Anaqua
Springs
8 5 7 $214.87 $308.77 $217.64
Apple
Creek
24 27 23 $84.07 $91.31 $100.35
Bentley
Manor
14 17 13 $194.90 $206.35 $204.13
Burning
Tree
12 7 16 $81.08 $88.75 $103.96
Camino
Real
7 9 4 $110.24 $116.95 $116.70
Canyon
Springs
161 190 176 $111.01 $112.85 $113.49

13. PRICE/SQ. FT. PER SUBDIVISION
January - November
Subdivision # Sales
2013
# Sales
2014
# Sales
2015
Price/Sq
Ft 2013
Price/Sq
Ft 2014
Price/Sq
Ft 2015
Carolina
Crossing
23 22 14 $79.13 $77.84 $83.53
Castle Hills 94 85 82 $96.42 $99.19 $112.01
Cedar
Springs
23 20 25 $85.27 $90.09 $89.17
Cibolo
Canyons
51 64 60 $112.43 $128.09 $117.64
Colonies
North
28 31 34 $84.12 $88.79 $93.05
Crownridge 35 31 28 $105.10 $114.58 $121.15
Deer Creek 33 30 32 $89.82 $89.71 $93.95
Deerfield 52 71 61 $113.00 $121.46 $123.84
Dellview 60 49 58 $67.65 $72.62 $83.27
Dover 55 52 49 $54.36 $59.94 $63.55

14. PRICE/SQ. FT. PER SUBDIVISION
January - November
Subdivision # Sales
2013
# Sales
2014
# Sales
2015
Price/Sq
Ft 2013
Price/Sq
Ft 2014
Price/Sq
Ft 2015
Elm Creek 27 19 29 $125.58 $144.51 $138.76
Fair Oaks 154 146 168 $129.88 $133.58 $136.95
Garden
Ridge
9 14 18 $104.61 $129.28 $128.35
Government
Hill
13 13 12 $87.77 $59.57 $94.13
Harlandale 99 97 120 $50.89 $53.43 $61.30
Harmony
Hills
27 26 36 $81.21 $92.07 $94.22
Heritage
Park
76 66 69 $68.12 $75.71 $81.57
Highland
Hills
45 31 35 $56.23 $61.90 $68.10
Hollywood
Park
55 57 48 $114.29 $123.71 $135.23

15. PRICE/SQ. FT. PER SUBDIVISION
January - November
Subdivision # Sales
2013
# Sales
2014
# Sales
2015
Price/Sq
Ft 2012
Price/Sq
Ft 2013
Price/Sq
Ft 2015
Hunters
Creek
49 43 38 $103.06 $115.73 $119.48
Inwood 59 54 66 $111.86 $120.09 $122.41
Lackland
Heights
11 8 8 $51.07 $68.89 $72.39
Legacy
Trails
17 14 17 $85.09 $86.93 $93.11
Longs
Creek
69 83 52 $69.52 $74.45 $75.81
Los
Angeles
Heights
69 59 57 $50.54 $59.49 $72.83
Mesa
Grande
19 24 23 $102.97 $100.47 $110.19
Monticello
Park
31 30 44 $90.71 $101.39 $114.93

16. PRICE/SQ. FT. PER SUBDIVISION
January - November
Subdivision # Sales
2013
# Sales
2014
# Sales
2015
Price/Sq
Ft 2012
Price/Sq
Ft 2013
Price/Sq
Ft 2015
Northern
Hills
66 71 73 $74.38 $78.86 $89.78
Northwest
Crossing
137 136 153 $68.40 $73.07 $78.10
Oak Hills 42 46 43 $85.13 $102.23 $100.96
Oak
Meadows
37 31 23 $96.00 $96.67 $103.10
Oakmont
Downs
17 10 12 $75.10 $85.92 $103.28
Olmos
Park
44 40 44 $189.01 $207.19 $223.82
Olympia 58 63 64 $88.35 $92.74 $101.48
Redbird
Ranch
60 95 137 $83.52 $86.91 $89.81
Retama
Ridge
13 17 18 $73.91 $75.93 $80.30

17. PRICE/SQ. FT. PER SUBDIVISION
January - November
Subdivision # Sales
2013
# Sales
2014
# Sales
2015
Price/Sq
Ft 2013
Price/Sq
Ft 2014
Price/Sq
Ft 2015
River Rock
Ranch
65 42 53 $114.80 $122.43 $114.97
Rogers
Ranch
104 106 91 $116.38 $123.55 $127.29
San Pedro
Hills
50 35 47 $89.72 $95.42 $99.19
Santa Fe 16 14 15 $103.47 $89.99 $111.10
Shavano
Park
23 33 23 $136.51 $145.22 $148.78
Sonoma
Ranch
121 124 115 $98.84 $104.35 $111.52
Sonterra 98 81 95 $107.38 $114.50 $123.01
Spring
Creek
64 64 65 $86.82 $94.10 $105.42
Spring
Vistas
78 59 60 $72.19 $76.47 $81.43

18. PRICE/SQ. FT. PER SUBDIVISION
January - November
Subdivision # Sales
2013
# Sales
2014
# Sales
2015
Price/Sq
Ft 2013
Price/Sq
Ft 2014
Price/Sq
Ft 2015
Steubing
Ranch
71 81 50 $83.64 $89.49 $91.46
Summerfield 18 17 21 $107.19 $106.01 $115.07
Terrell Hills 102 65 92 $199.74 $196.37 $203.96
Triana 33 32 23 $124.60 $133.57 $130.68
Two
Creeks
65 45 69 $100.02 $106.27 $109.46
Vineyards 45 47 29 $115.77 $127.24 $113.39
Windcrest 92 79 80 $72.81 $76.87 $81.38
Woodlake 99 99 118 $71.70 $71.64 $75.51
Woodlawn
Hills
3 6 3 $85.92 $74.04 $75.46
Woodstone 41 43 48 $66.41 $77.09 $82.89

19. Areas by Quadrant

20. 0
100
200
300
400
500
600
700
800
NUMBER OF SALES BY PRICE RANGE
($50,000 - $199,999 - JANUARY - NOVEMBER)
Southwest Quadrant
Source:
MLS
2013
2014
2015
# of
Sales

21. 590
600
610
620
630
640
650
660
670
680
NUMBER OF SALES BY PRICE RANGE
($50,000 - $199,999 - JANUARY - NOVEMBER)
Southeast Quadrant
Source:
MLS
2013
2014
2015
# of
Sales

22. 4380
4400
4420
4440
4460
4480
4500
4520
4540
4560
4580
NUMBER OF SALES BY PRICE RANGE
($50,000 - $199,999 - JANUARY - NOVEMBER)
Northeast Quadrant
Source:
MLS
2013
2014
2015
# of
Sales

23. 5,350
5,400
5,450
5,500
5,550
5,600
5,650
NUMBER OF SALES BY PRICE RANGE
($50,000 - $199,999 - JANUARY - NOVEMBER)
Northwest Quadrant
Source:
MLS
2013
2014
2015
# of
Sales

24. 0
10
20
30
40
50
60
NUMBER OF SALES BY PRICE RANGE
($200,000 - $499,999 - JANUARY - NOVEMBER)
Southwest Quadrant
Source:
MLS
2013
2014
2015
# of
Sales

25. 0
50
100
150
200
250
300
350
400
NUMBER OF SALES BY PRICE RANGE
($200,000 - $499,999 - JANUARY - NOVEMBER)
Southeast Quadrant
Source:
MLS
2013
2014
2015
# of
Sales

26. 0
500
1,000
1,500
2,000
2,500
3,000
NUMBER OF SALES BY PRICE RANGE
($200,000 - $499,999 - JANUARY - NOVEMBER)
Northeast Quadrant
Source:
MLS
2013
2014
2015
# of
Sales

27. 0
1,000
2,000
3,000
4,000
5,000
6,000
NUMBER OF SALES BY PRICE RANGE
($200,000 - $499,999 - JANUARY - NOVEMBER)
Northwest Quadrant
Source:
MLS
2013
2014
2015
# of
Sales

28. 0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1
NUMBER OF SALES BY PRICE RANGE
($500,000 and Up - JANUARY - NOVEMBER)
Southwest Quadrant
Source:
MLS
2013
2014
2015
# of
Sales

29. 0
1
2
3
4
5
6
NUMBER OF SALES BY PRICE RANGE
($500,000 and Up - JANUARY - NOVEMBER)
Southeast Quadrant
Source:
MLS
2013
2014
2015
# of
Sales

30. 0
50
100
150
200
250
NUMBER OF SALES BY PRICE RANGE
($500,000 and Up - JANUARY - NOVEMBER)
Northeast Quadrant
Source:
MLS
2013
2014
2015
# of
Sales

31. 0
100
200
300
400
500
600
700
NUMBER OF SALES BY PRICE RANGE
($500,000 and Up - JANUARY - NOVEMBER)
Northwest Quadrant
Source:
MLS
2013
2014
2015
# of
Sales

32. $0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
0
50
100
150
200
250
Downtown San Antonio
Market Snapshot
January – November, 2015
Total Sales
2013
2014
2015
Average Sales Price

35. Area by Finance Type (2015)
MLS Area Cash Conventional FHA VA
1001 12% 59% 11% 15%
1002 14% 66% 6% 13%
1003 29% 64% - 5%
1004 7% 65% 4% 22%
1005 8% 69% 8% 13%
1006 15% 60% 7% 15%
1100 36% 55% 3% 1%
1200 60% 16% 15% 3%
1300 24% 52% 10% 10%
1400 14% 42% 27% 14%
1500 18% 29% 36% 15%
1600 18% 23% 32% 24%
1700 16% 20% 28% 30%

36. Area by Finance Type (2015) - Continued
MLS Area Cash Conventional FHA VA
1801 14% 58% 11% 16%
1802 12% 49% 17% 19%
1803 13% 56% 11% 17%
1804 9% 49% 16% 22%
1900 31% 19% 36% 9%
2001 8% 18% 45% 26%
2002 4% 38% 31% 12%
2003 38% 4% 46% 4%
2004 8% 22% 44% 11%
2100 34% 11% 43% 0%
2200 32% 15% 36% 1%
2301 7% 27% 44% 16%
2302 31% 6% 38% 13%

37. Area by Finance Type (2015) - Continued
MLS Area Cash Conventional FHA VA
2303 33% 13% 40% -
2304 12% 13% 43% 21%
2400 23% 40% 13% 18%
2501 31% 48% 7% 10%
2502 20% 56% 9% 9%
2503 10% 68% 8% 13%
2504 24% 59% 4% 7%
2505 23% 42% 19% 10%
2506 32% 56% 4% 5%
2507 23% 64% 3% 3%
2508 31% 43% 16% 8%
2600 18% 55% 12% 16%
2700 15% 33% 22% 31%
2800 10% 41% 23% 24%

38. Area by Finance Type (2015) - Continued
MLS Area Cash Conventional FHA VA
0101 7% 19% 20% 48%
0102 9% 29% 21% 37%
0103 12% 28% 31% 21%
0104 7% 25% 12% 50%
0105 6% 38% 20% 32%
0200 13% 22% 34% 27%
0300 15% 31% 36% 16%
0400 14% 42% 29% 13%
0500 18% 52% 16% 11%
0600 18% 57% 11% 13%
0700 42% 13% 31% 3%
0800 28% 29% 31% 6%
0900 32% 35% 22% 6%

39. Atascosa County Market Snapshot
January – November, 2015
Total Sales: 217
YoY %: -0.9%
Average Price: $161,290
YoY %: 8.2%
Median Price: $150,000
YoY %: 3.5%

40. Bexar County Market Snapshot
January – November, 2015
Total Sales: 19,001
YoY %: 10.6%
Average Price: $221,375
YoY %: 5.4%
Median Price: $183,000
YoY %: 5.8%

41. Frio County Market Snapshot
January – November, 2015
Total Sales: 19
YoY %: 26.7%
Average Price: $126,497
YoY %: -5.3%
Median Price: $120,500
YoY %: -1.2%

42. Karnes County Market Snapshot
January – November, 2015
Total Sales: 5
YoY %: -37.5%
Average Price: $220,000
YoY %: 65.4%
Median Price: $165,000
YoY %: 12.2%

43. Kendall County Market Snapshot
January – November, 2015
Total Sales: 567
YoY %: 22.7%
Average Price: $416,198
YoY %: 5.6%
Median Price: $335,000
YoY %: 15.8%

44. La Salle County Market Snapshot
January – November, 2015
Total Sales: 1
YoY %: 0.0%
Average Price: $99,500
YoY %: 485.3%
Median Price: $99,500
YoY %: 485.3%

45. McMullen County Market Snapshot
January – November, 2015
Total Sales: 0
YoY %: 0.0%
Average Price: $0
YoY %: 0%
Median Price: $0
YoY %: 0%

46. Medina County Market Snapshot
January – November, 2015
Total Sales: 316
YoY %: 7.5%
Average Price: $212,319
YoY %: 11.7%
Median Price: $195,500
YoY %: 9.9%

47. Wilson County Market Snapshot
January – November, 2015
Total Sales: 427
YoY %: 1.2%
Average Price: $259,709
YoY %: 6.5%
Median Price: $268,875
YoY %: 5.0%

48. Market Update for
San Antonio &
Surrounding Areas:
January – November, 2015