The San Antonio area saw a 17% decrease in total home sales for the month of February with 2,287 closed listings, according to the Multiple Listing Service (MLS) Report from the San Antonio Board of REALTORS® (SABOR), which reports all areas contained within the MLS. The area also saw steady increases in average and median home prices with 2% increases from February 2022, now at $365,678 and $310,000, respectively. Residential rental also saw a slight increase of 3% with the average price now at $1,804.
“In February, we saw a 28% decline in existing home sales but also a 28% spike in new construction homes,” said Sara Briseño Gerrish, SABOR's 2023 Chair of the Board. “Homes stayed on the market for 70 days, an 84% increase from the same time last year. The months of inventory is being reported at 3.3 and 93.5% of homes closed of their original listing price. To close February, there were 3,531 new listings, 2,407 pending listings and 9,712 active listings.”
Bexar County saw a 16.4% decline in home sales with 1,612 closed listings in February 2023. The price per square foot increased 2.4% to $168 and 93.7% of homes closed for their original list price. The average home price for the area had an increase of 4.4%, now at $341,204 and the median price increased 3.3% to $294,945. The other three major counties in the state, Travis, Harris and Dallas also saw increases, with median home prices being reported at $500,000, $309,340 and $355,500, respectively.
Across Texas, 21,838 homes were sold in February, a 14% decrease from 2022. Average home prices slightly increased by 0.7% and median prices by 0.3%. Homes stayed on the market for 65 days, with 2.6 months of inventory and 93.7% closing for their original list price. The state closed the month with 30,777 new listings, 73,219 active listings and 25,491 pending sales.