January’s housing market continued its momentum from 2019 with a 16 percent year-over-year surge in sales. This equates to a total of 2,078 homes sold during the month, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. This growth was accompanied by increases in both the average and median prices, with the average rising eight percent to $267,792 and the median increasing six percent to $229,400. The month ended with 2,554 sales still pending with just 3.3 months of available inventory on the market.
“While it’s typical to see a drop-off in sales in the winter months, the San Antonio area continues to attract buyers at all times of the year,” said Kim Bragman, SABOR’s 2020 Chairman of the Board. “With so much to offer like great schools, a stable economy, and a booming job market, it’s easy to see why we keep thriving.”
In January, 36.6 percent of the homes sold were priced under $199,000 while 57.2 percent were priced between $200,000 and $499,000. The remaining 6.2 percent were homes sold over $500,000.
In Bexar County, sales increased 14 percent over last January for a total of 1,504 homes sold with an average sales price of $249,022, a five percent increase year-over-year. Months of inventory in the county remained low at 2.8 months while the price per square foot inched up 4.9 percent to $120.
Texas as a whole experienced significant increases year-over-year with nearly 15 percent more homes sold in January 2020 than in 2019. In fact, a total of 19,323 homes sold in just the first month of the year. The average price statewide rose six percent to $282,296 while the median grew 5.4 percent to $235,000.
“Even as we see increases in these numbers, we remain fortunate that San Antonio has stayed more affordable than other major cities in Texas,” said Gilbert S. Gonzalez, SABOR’s President and CEO. “This affordability means buyers can achieve their dreams of homeownership while still getting to live in a major metro area.”