San Antonio Real Estate Market Shows Stability with Increased Sales Activity

In September 2024, the San Antonio real estate market continued to experience a slight decline compared to September of 2023 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 September was $371,945, representing a 2% decrease compared to the previous year. The median home price dropped only 1% compared to August of 2023, at around $312,000. Meanwhile, residential rentals are now at an average of $1,822.

The region reported 2,693 closed listings for the month, marking a 2% increase in sales activity as the Q3 comes to an end, compared to a year ago. A total of 93.9% of these homes closed at their original list price. At the end of September, there were 2,411 pending listings, 4,204 new listings and 14,668 active listings. The market now has 5.19 months of inventory, with homes spending an average of 72 days on the market, a 38% increase compared to last year.

"The San Antonio real estate market is showing modest price declines but remains stable with continued demand, as evidenced by a 2% increase in sales activity and the majority of homes closing at their original list price. With inventory levels rising and homes spending more time on the market, we expect a balanced environment moving forward. While we may see gradual shifts in pricing and sales dynamics, the market continues to demonstrate resilience." – Will Curtis, SABOR’s 2024 Chair of the Board.

Statewide, the Texas real estate market saw various trends, with 26,189 homes sold in September, a 1% decrease from 2023. The average home price across Texas rose by less than 1% compared to 2023 to $417,085, while the median price slightly decreased by 0.3% to $339,000. Across the largest counties in Texas, median home prices continued to demonstrate significant variation. Travis County recorded the highest median price at $500,000. Harris County saw a median price of $325,000, while Dallas County reported a slightly higher median price than Harris County at $365,000. Bexar County had a median price of $295,000, making it one of the more affordable major markets in the state.