The housing market in San Antonio remained steady this summer as prices fell
Home sales and median prices fell slightly in San Antonio during June, continuing a pattern of increasing stability in the area's real estate market.
The latest report from the San Antonio Board of Realtors (SABOR) showed a 9% decline in completed home sales in the area year over year from 2022, totaling 3,354 transactions. Bexar County had 2,288 completed home sales, down about 10.2 percent from last year.
Homes in San Antonio currently sell for an average price of $395,524, although median prices fell 6% from 2022 to $320,950. In Bexar County, median home prices are $305,000.
Sarah Brissino-Grish, SABOR's 2023 board chair, said in the report that San Antonio has about 3.7 months of inventory, allowing buyers and sellers to have a "fair playing field for negotiations."
"Additionally, 95 percent of sales closed close to the original listing price, indicating that sellers are achieving the desired results in most transactions," she said.
"Another noteworthy trend observed," she continued, "is the significant increase in the number of days on the market, which increased by 121 percent and reached 64 days. This indicates a more deliberate decision-making process among buyers, potentially due to increased scrutiny or the need for a more thorough evaluation of the available options."
Home sales are down nearly 10% statewide, so San Antonio isn't the only area experiencing a small decline.
Responses