Home sales fall 20% in San Antonio as real estate prices continue to rise, statistics show
The average price of a home in San Antonio has increased by 8% since October 2021
San Antonio - Home sales in San Antonio fell by almost 20% compared to a year ago as real estate prices continue to climb.
On Friday, the San Antonio Board of Realtors released its housing market statistics for October, showing the average and median prices for all homes (new and existing), both up 8 percent to $382,518 and $323,190, respectively.
That's on trend with the rest of Texas, which saw a 21% drop in homes sold compared to October 2021 and an 8% increase in home prices.
"Homes spent an average of 44 days on the market and 95.8% sold for their listing price," Tracy Haslocher, SABOR's 2022 board chair, said of San Antonio's housing market. "284 homes sold for $199,999 or less, 1,534 sold for $200,000-$399,999 and 836 sold for $400,000 or more."
Recently, a new figure shared by the real estate website Redfin indicated that the salary requirement for the median house in San Antonio increased by 49.4% in one year.
The increase in apartment prices and the skyrocketing mortgage interest rates have contributed to fluctuations in the housing market in the past year.
The data table below depicts the median value of a single-family home for seven of the largest cities in Texas using data from Zillow:
Zillow uses data from public property records, tax records, recent home sales in the area and user-submitted information to arrive at an estimated market value for a home - whether it's on the market or not. The data often differs from SABOR statistics because SABOR only uses data from homes that are currently listed or recently sold.
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