For the seventh month this year, the San Antonio area is seeing a decrease in home sales, 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 month of October ended with 2,656 closed listings, a 19 percent decrease from a year ago. 2,053 of those sales were existing homes and 602 new construction homes. The average and median prices for all (new and existing) homes both rose 8 percent to $382,518 and $323,190, respectively.
“Homes spent an average of 44 days on the market and 95.8 percent sold for their listing price,” said Tracie Hasslocher, SABOR's 2022 Chairman of the Board. “284 homes sold for $199,999 and below, 1,534 sold for $200,000-$399,999 and 836 sold for $400,000 or more. The month closed with 3.26 months of inventory, 2,179 pending listings, 3,978 new listings and 10,390 active listings, a 74 percent increase from October 2021.”
According to the San Antonio-New Braunfels MSA report, October saw a decrease of 19.3 percent with 2,597 homes sold. Average and median prices saw an increase of 7.8 percent, now at $383,707 and $324,945. Months of inventory for the area was at 3.1 with 95.8 percent of homes selling for their listing price. The month of October closed with 3,871 new listings, 9,835 active listings, and 2,230 pending listings.
In Bexar County, 1,847 homes sold in October, a decrease of 2.9 percent from the same time last year. The price per square foot increased 11.1 percent to $173 and 96.1 percent of homes sold for their listing price. The average home price for the area increased 7.4.2 percent to $354,231 and the median price increased 5.4 percent to $305,000. Travis County, Harris County and Dallas County, the other major counties in the state, also saw increases in their average and median prices. However, Bexar County remains the most affordable when compared.
Across Texas, there were 24,707 homes sold, a decrease of 21.2 percent from October 2021. Average home prices increased by 8.3 percent and median prices by 8.1 percent. Homes stayed on the market for an average of 42 days, with 2.9 months of inventory and 95.2 percent selling for their list price. The state closed the month with 35,820 new listings, 86,976 active listings, and 23,065 pending sales.