– The year ended with slight increases in average and median prices for all (new and existing) homes, according to the Multiple Listing Service (MLS) Report from the San Antonio Board of REALTORS® (SABOR), which reports all areas contained within the MLS. Average and median prices rose 6 percent each, now at $379,869 and $324,000, respectively. Residential rental also saw an increase of 8 percent, now at $1,810.
December saw 1,685 existing and 787 new construction homes sold with median prices of $305,000 (2 percent increase from Dec. 2021) and $354,995 (9 percent increase from 2021), respectively. Year-to-date home sales in the San Antonio area for all new and existing homes is reported at 36,477, down 10 percent from 2021. The average price for homes sold in 2022 was reported at $379,722, up 12 percent from December 2021. Meanwhile, the median price for all homes sold in 2022 is $323,000, an increase of 13 percent from a year ago.
“For the ninth consecutive month in 2022, homes sales saw a decrease, this time of 30 percent,” said Sara Briseño Gerrish, SABOR's 2023 Chairman of the Board. “This is the biggest year-over-year decline we’ve seen in the last couple of years. Compared to December 2021, homes were on the market for 59 days, that’s a year-over-year hike of 74 percent. 93.7 homes sold for their listing price with 3.2. months of inventory. The month ended with 1,697 pending listings, a decrease of 39 percent from 2021, 2,317 new listings, a decrease of 17 percent from last year, and 9,681 active listings, an increase of 101 percent.”
In December, Bexar County saw 1,704 closed sales, a decline of 32.3 percent from 2021. The price per square foot increased 4.9 percent to $169 and 94 percent of homes sold for their listing price. The average home price for the area had an increase of 6.9 percent, now at $354,965 and the median price increased 4.5 percent to $305,000. The other three major counties in the state, Travis, Harris and Dallas also saw increases, with median home prices being reported at $533,370, $314,400 and $335,000, respectively.
Across Texas, there were 23,398 homes sold, a decrease of 29.7 percent from December 2021. Average home prices increased by 2.5 percent and median prices by 3.2 percent. Homes stayed on the market for an average of 57 days, with 2.7 months of inventory and 93.4 percent selling for their list price. The state closed the month with 22,851 new listings, 77,726 active listings, and 18,488 pending sales.