According to the San Antonio Board of REALTORS®, the housing market remains resilient

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 market has remained resilient with stable prices despite total sales experiencing a slight 4% year-over-year (YoY) decrease.

The latest MLS data shows 3,168 home sales in the month of August. The average price for homes in the San Antonio area remained consistent at $387,844, with no significant change YoY. This stability in average prices is indicative of a healthy and balanced market. The average price for homes in the San Antonio area remained consistent at $387,844, with no significant change YoY. This stability in average prices is indicative of a healthy and balanced market.

“The average number of days on the market increased significantly by 81% YoY, reaching 56 days,” said Sara Briseño Gerrish, SABOR's 2023 Chair of the Board. “The market continues to favor sellers, with 3.9 months of inventory, suggesting a competitive environment for buyers. While the YoY decrease in total sales and increased days on the market suggest a market in transition, the stability in average and median prices indicates a balanced environment that continues to provide opportunities for real estate investors and homeowners alike.”

The Bexar County market saw a modest 3.7% year-over-year (YoY) decrease in total sales, with 2,183 homes sold. However, the average price for homes in San Antonio demonstrated strength, showing a slight 0.3% YoY increase to reach $357,030, while the median price decreased by 2.5% YoY, resting at $300,000. Additionally, the price per square foot also decreased by 1.5% YoY, settling at $172. These numbers underscore San Antonio's affordability and stability in comparison to other major Texas counties, where median home prices in Travis County are $564,250, Harris County at $330,000, and Dallas County at $375,000. San Antonio continues to offer competitive options for buyers and investors in the vibrant Texas real estate landscape.

The Texas real estate market, while displaying resilience in an ever-evolving landscape, experienced a 7% decrease in total sales, with 29,472 properties changing hands. However, the market remains buoyant, with the average price registering a notable 1.8% increase, reaching $427,574. In contrast, the median price saw a minor 0.2% decrease, settling at $345,000. The price per square foot exhibited a modest 0.9% year-over-year decrease, standing at $189. Transactions continue to occur at an efficient pace, with an average of 47 days on the market. Moreover, the market maintains equilibrium with 3.4 months of inventory available.