The San Antonio area is seeing a steady increase in average and median home prices, 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 average and median prices for all (new and existing) homes rose 4 and 5 percent to $372,126 and $314,625, respectively from a year ago. Residential rental also saw an increase of 7 percent, now at $1,772. For the eighth consecutive month this year, homes sales saw a decrease, this time of 24 percent. This is the biggest year-over-year decline we’ve seen since May 2020 when sales were down 20 percent from the prior year.
The month of November saw 1,683 existing and 611 new construction homes sold with median prices of $300,000 (2 percent increase from Nov. 2021) and $339,000 (2 percent increase from 2021), respectively. Year-to-date home sales in the San Antonio area for all new and existing homes is reported at 33,957, down 8 percent from 2021. The average price for homes sold so far this year is $380,176, up 13 percent from November 2021. Meanwhile, the median price for all homes sold in 2022 is $323,000, an increase of 14 percent from a year ago.
“In November, there was a significant increase in the number of days a home stayed on the market,” said Tracie Hasslocher, SABOR's 2022 Chairman of the Board. “Compared to the same month in 2021, homes were on the market for 52 days, that’s a year-over-year hike of 68 percent. 94.2 homes sold for their listing price with 3.3. months of inventory. The month ended with 1,827 pending listings, a decrease of 41 percent from 2021, 2,978 new listings, a decrease of 10 percent from last year, and 10,304 active listings, an increase of 90 percent.”
Bexar County saw 1,640 closed sales in November 2022, a decline of more than 25 percent from 2021. The price per square foot increased 6.3 percent to $168 and 94.6 percent of homes sold for their listing price. The average home price for the area had a slight increase of 3.1 percent, now at $339,401 and the median price increased 3.8 percent to $299,938. The other three major counties in the state, Travis, Harris and Dallas also saw increases, with median home prices being reported at $545,000, $319,000, $367,750, respectively.
Across the state, there were 21,597 homes sold, a decrease of 29.1percent from November 2021. Average home prices increased by 5.6 percent and median prices by 5 percent. Homes stayed on the market for an average of 48 days, with 2.9 months of inventory and 94 percent selling for their list price. The state closed the month with 29,062 new listings, 85,400 active listings, and 20,400 pending sales.