Total home sales showed modest increases in March with sales rising four percent for a total of 3,013 in the San Antonio area. 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. Both the average and median sales prices climbed six percent, with the average price reported at $277,256 and the median at $240,000. Months of inventory continued to favor sellers with only 3.2 months available. Heading into April, the month ended with 2,917 sales still pending.
“We know many buyers and sellers might be hesitant to get into the market amidst coronavirus concerns, but with so many virtual options available, they are still able to tour properties and meet with their REALTOR® to achieve their homeownership goals,” said Kim Bragman, SABOR’s 2020 Chairman of the Board.
In fact, for those interested in buying, March reported 9,279 listings actively available on the market, with 4,002 of those new listings. For sellers, homes are still selling quickly. Days on market remained unchanged from March of 2019 with homes lasting an average of 68 days before selling, and price per square foot for the month was up five percent year-over-year to $130.
Just over 31 percent of the homes sold in March were priced under $200,000 while homes priced between $200,000 and $500,000 accounted for 61.5 percent of sales. Homes priced over $500,000 made up the remaining 7.1 percent of homes sold.
Compared with the rest of Texas, Bexar County remains affordable and continues to fare strongly. Home sales in the county increased 0.4 percent while the average sales price increased seven percent to $265,665. For comparison, in nearby Travis County, home sales decreased slightly by 1.1 percent while average price rose 11.3 percent to $519,275. Harris County reported a six percent increase in sales with the average price increasing 5.1 percent to $322,651. And in Dallas County, sales increased 1.2 percent while the average price grew 7.3 percent to $386,123.
Texas reported a 1.6 percent increase in sales for the state which equates to 28,158 total homes sold. The average price for a home sold in Texas rose 5.3 percent to $301,519 and the median increased 5.9 percent to $249,995. (Source: SABOR Monthly Report)