According to the San Antonio Board of REALTORS®, June housing market reveals a dynamic landscape

The latest statistics from the San Antonio housing market reveal a dynamic landscape, characterized by shifting trends and remarkable stability. Despite a modest decline in sales volume, the market has maintained its average price, indicating the robustness of the real estate sector in the region.

According to the Multiple Listing Service (MLS) Report from the San Antonio Board of REALTORS® (SABOR), which reports all areas contained within the SABOR MLS, there were a total of 3,354 home sales in San Antonio, representing a 9% decrease compared to a year ago. However, the average price of homes sold remained steady at $395,524, signifying a stable market overall. While the median price experienced a 6% decrease from 2022, settling at $320,950, this adjustment can be seen as an opportunity for potential homebuyers to enter the market. Moreover, the price per square foot declined by 4% to $183, providing additional affordability for prospective homeowners.

“The inventory situation in San Antonio remains relatively stable, with 3.7 months of inventory available,” said Sara Briseño Gerrish, SABOR's 2023 Chair of the Board. “This balance signifies a market that is conducive to both buyers and sellers, creating a fair playing field for negotiations. Additionally, 95% of sales closed close to the original listing price, indicating that sellers are achieving their desired outcomes in most transactions. Another noteworthy trend observed is the significant increase in the number of days on the market, which rose by 121% to reach 64 days. This suggests a more deliberate decision-making process among buyers, potentially due to increased scrutiny or the need for a more thorough evaluation of available options.”

During the latest period, Bexar County recorded a total of 2,288 home sales, representing a modest 10.2% decrease compared to June 2022. However, the average price of homes sold demonstrated stability, experiencing only a slight decline of 1.5% to reach $363,157, indicating a robust market overall. The median price of homes in Bexar County settled at $305,000, showing a 4.7% decrease. The other three major counties in the state, Travis, Harris and Dallas reported median home prices of $580,000, $335,000 and $390,000, respectively.

Across Texas, despite a 9.7% decrease in total sales, with 31,689 homes sold, the housing market has maintained its stability across the state. Homes stayed on the market for 50 days, with 3.2 months of inventory and 96.3% closing for their original list price. The state closed the month with 46,042 new listings, 85,022 active listings and 29,959 pending sales.