Despite Unprecedented Times, SA Housing Market Shows Slight Decrease with Continued Movement



According to April reports, home ownership transactions, while slightly down from this time last year, are still moving forward in the San Antonio metro area despite our current environment. Total home sales are at 2,748, a small 8% decrease from April 2019. Also indicated was a shift in days on the market to 61 days on average, down one day from this time last year. This is according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS.


April reports show 9,498 active listings in San Antonio, a slight increase from March, with 3,543 of those being new listings. Pending sales for the month are at 2,652. This indicates that home buying and selling is still on the move, even amidst the changing times of the pandemic.


Reporting for the state of Texas shows a decrease in home sales at 17.4% for 24,795 homes sold, as compared to San Antonio which only saw an 8% decrease for 2,748 homes sold. The average price in Texas showed a 1.4% increase and median price reported a 3.3% increase. In Texas, houses on average sat on the market for 56 days.


"While the numbers show a slight decline, we are still seeing movement and progress in the housing market in San Antonio, especially when compared with the state and other parts of the country," said Kim Bragman, SABOR's 2020 Chairman of the Board. "We have to remember the magnitude of what we have experienced across the world and expect that we will see some numbers that change the trend, but we are optimistic when looking at the big picture that momentum will keep driving forward in the housing market."


Reports for Bexar County showed a slight decrease as well with the total number of homes sold at 2,007, a 9.3% decrease from April 2019. The average price, $265,110, and median price, $230,000 (which was the same as San Antonio's median price), were up 4.5% and 4.8% respectively.


Nationally, nearly all of the nation’s metro areas saw price growth and had minimal inventory increases in the first quarter of 2020, according to the latest quarterly report by the National Association of REALTORS®.


As reported by the National Association of REALTORS®, median single-family home prices increased yearover-year in 96% of measured markets in the first quarter, with 174 of 181 metropolitan statistical areas showing sales price gains. That is an increase from the 94% share seen in the fourth quarter of 2019. The national median existing single-family home price in the first quarter of 2020 was $274,600, up 7.7% from the first quarter of 2019 ($254,900).


“The first quarter price jumps mostly reflect conditions prior to the coronavirus outbreak and show the strength of the housing demand prior to the pandemic,” said Dr. Lawrence Yun, NAR chief economist. “Even now, due to very limited listings, home prices are showing no signs of buckling.”

(Source: SABOR Monthly Report)



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