The latest statistics from the San Antonio Board of REALTORS® Multiple Listing Service (MLS) reveal both challenges and opportunities in the local housing market. The local housing market saw a total of 2,744 sales in September, marking a 15% year-on-year decrease. The average price of homes remained steady at $385,210, showing no significant year-over-year change. While the median price witnessed a 2% year-on-year decrease to $318,950, this figure still indicates a relatively stable market.
“The price per square foot dropped by 3% year-on-year to $180, presenting a potential opportunity for buyers looking for a more favorable price per square foot,” said Sara Briseño Gerrish, SABOR's 2023 Chair of the Board. “The month ended with 4.3 months of inventory available, indicating a balanced market that can be beneficial for both buyers and sellers. Properties spent an average of 64 days on the market, reflecting a 52% year-on-year increase, emphasizing the importance of positioning your property effectively in today's market.
In Bexar County, the housing market remains robust, with 2,183 total sales in September, reflecting a slight 3.7% year-on-year decrease, while the average price shows resilience, inching up by 0.3% to $357,030. The median price stands at $300,000, indicating a 2.5% year-on-year decrease. Buyers can also find potential savings, as the price per square foot decreases by 1.5% to $172.
The median home prices in other major Texas counties tell a diverse story of the Lone Star State's real estate market. Travis County presents a higher median price of $500,000, reflecting the tech and cultural hub's strong demand. Harris County, mirrors Bexar County with a median of $300,000, showcasing the metropolitan area's balanced affordability. In Dallas County, the median price sits at $338,500, offering a middle ground for those seeking the allure of urban living.
In the Texas real estate market for September 2023, total sales amounted to 29,472, marking a 7% year-on-year decrease, the average price experienced a steady 1.8% year-on-year increase, reaching $427,574. Conversely, the median price showed a slight 0.9% year-on-year decrease, settling at $345,000. The price per square foot dipped marginally by 0.2%, settling at $189. Homes, on average, spent 47 days on the market, with 3.4 months of inventory offering a balanced market. Sellers continued to benefit from strong demand, receiving 95.7% of their original list price.