According to the Multiple Listing Service (MLS) Report from the San Antonio Board of REALTORS® (SABOR), which reports all areas contained within the MLS, January 2023 saw a 30% decrease of all (new and existing) homes with 1,743 closed listings. The area also saw steady increases in average and median home prices with 6% and 3% increases from the prior year. Residential rental also saw a slight increase of 3% with the average price now at $1,777.
January 2023 saw 1,311 existing and 431 new construction homes sold, both decreases of 36% and 7%, respectively, from January 2022. The average price of an existing home increased 6%, now at $364,080 and the median price at $299,000, an increase of 3% from a year ago. New construction homes also saw a slight increase in average prices reporting at $386,645 and a 1% decrease in median prices, now at $327,250.
“San Antonio is seeing a spike in the number of days a home stays on the market, compared to the same time last year,” said Sara Briseño Gerrish, SABOR's 2023 Chair of the Board. “Right now, the DOM is reported at 66, which is a year-over-year increase of 94%. To close the month, 93.1% of homes closed for their original list price and we are seeing 3.2 months of inventory, 3,357 new listings, 2,379 pending listings and 9,678 active listings.”
For January 2023, Bexar County saw a 35% decrease in home sales with 1,176 closed listings. The price per square foot increased 2.8% to $164 and 93.4% of homes closed for their original list price. The average home price for the area had an increase of 6.7%, now at $343,225 and the median price increased 2.6% to $292,500. The other three major counties in the state, Travis, Harris and Dallas also saw increases, with median home prices being reported at $500,000, $300,000, $338,500, respectively.
Across the state, there were 16,704 homes sold, a decrease of 28.2% from January 2022. Average home prices increased by 3.4% and median prices by 2.5%. Homes stayed on the market for an average of 62 days, with 2.7 months of inventory and 93% closing for their original list price. The state closed the month with 32,590 new listings, 76,078 active listings and 25,222 pending sales.