The San Antonio area saw a slight decrease in average 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. Average prices saw a 1% decrease, compared to a year ago, that amount is now reported at $366,834. Meantime, median prices saw no change from the same time last year. Residential rental saw a slight increase of 3% with the average price now at $1,815. To close the month, the area reported 3,073 pending listings, 3,995 new listings and 9,285 active listings.
“The San Antonio area is seeing the smallest year-over-year decrease in home sales in the last eight months,” said Sara Briseño Gerrish, SABOR's 2023 Chair of the Board. “We saw 3,129 closed listings in March 2023, a 12% decrease compared to the up to 30% decrease we had been reporting. Homes stayed on the market for 72 days, an increase of 100% from March 2022. The month closed with 3.2 months of inventory and 94.1% of homes closed for their original listing price.”
Bexar County saw a 10.8% decline in home sales with 2,187 closed listings in March 2023. The price per square foot decreased 1.2% to $168 and 94.4% of homes closed for their original list price. The average home price for the area had an increase of 1.3%, now at $341,302 and the median price saw no change, remaining at $299,970. The other three major counties in the state, Travis, Harris and Dallas reported median home prices of $525,000, $318,000 and $346,000, respectively.
Across the state, 29,077 homes were sold in March, an 11.3% decrease from 2022. Average home prices slightly decreased by 1.6% and median prices by 0.9%. Homes stayed on the market for 64 days, with 2.7 months of inventory and 94.6% closing for their original list price. The state closed the month with 40,788 new listings, 74,422 active listings and 31,085 pending sales.