San Antonio Area Sees Strong Sales Growth Amid Stable Prices and Ample Opportunities for Buyers

In July 2024, the San Antonio real estate market continued to experience a modest decline in both average and median home prices, according to the latest Multiple Listing Service (MLS) Report from the San Antonio Board of REALTORS® (SABOR). The average home price for July was $376,289, representing a 2% decrease compared to the previous year. The median home price held steady at $320,000, showing no change from July 2023. Meanwhile, residential rentals are now at an average of $1,913.

The region reported 3,331 closed listings for the month, marking an 11% increase in sales activity, compared to a year ago. A total of 94.3% of these homes closed at their original list price. At the end of July, there were 2,619 pending listings, 4,899 new listings, and 15,056 active listings. The market now has 5.3 months of inventory, with homes spending an average of 63 days on the market, a 9% increase compared to the previous year.

"July 2024 reflected continued shifts in the market, with a healthy rise in total sales despite the slight drop in home prices," said Will Curtis, SABOR's 2024 Chair of the Board. "While existing home prices have softened, the market remains active, with a significant number of new and active listings providing ample opportunities for buyers."

Statewide, the Texas real estate market saw a positive trend, with 28,948 homes sold in July, a 3.6% increase from 2023. The average home price across Texas rose by 1.5% to $438,715, while the median price slightly decreased by 0.3% to $349,900. Across the largest counties in Texas, median home prices continued to demonstrate significant variation. Travis County recorded the highest median price at $555,000. Harris County saw a median price of $349,900, while Dallas County reported a median price of $375,000. Bexar County had a median price of $302,500, making it one of the more affordable major markets in the state.