San Antonio Real Estate Market Reflects Robust Activity in May 2024

The latest Multiple Listing Service (MLS) report from the San Antonio Board of REALTORS® (SABOR) indicates dynamic trends in the local real estate market for May 2024. A total of 3,472 homes were sold, reflecting a 3% decrease from May 2023. The average home price decreased by 2% to $371,202, while the median price remained stable at $314,000. The average residential rental price saw a slight increase, reaching $1,889, highlighting continued strength in the rental market.

“The average number of days on the market increased by 8% to 69 days, suggesting a slightly longer selling period for properties compared to the same time a year ago,” said Will Curtis, SABOR's 2024 Chair of the Board. “The months of inventory remained balanced at 4.9. New listings surged by 15% to 4,767, while active listings saw a significant 34% increase to 12,727, indicating ample options for buyers.”

Statewide, total sales saw an impressive 8.6% increase, with 29,038 homes sold. Both average and median prices experienced growth, with the average price rising by 4.4% to $436,730, and the median price increasing by 1.8% to $345,000. Median prices varied across major counties in Texas, with Bexar County at $299,990, Travis County at $561,425, Harris County at $335,000 and Dallas County at $385,530.