SAN ANTONIO – A new local real estate report is a good-news/bad-news scenario for potential homebuyers in San Antonio.
The good news is that home inventory, which has been exceptionally low over the past year, is on the rise. That means you’ll have more homes to choose from and may get a chance to compete with other buyers in this sellers’ market.
The bad news is that homes are getting more expensive, fast.
The June report from the San Antonio Board of REALTORS showed that the average price of a home in the San Antonio area — now $345,114 — is 19% higher than this time last year, when it stood at $289,517. That jump is significantly higher than the rise in average prices from June 2019 to June 2020, the report said.
San Antonio’s average price is still lower and growing at a slower rate than the statewide average, which climbed 26% over last June and now stands at $396,801.
The same trend is seen when looking at median prices. In San Antonio, the median price of a home jumped 17% to $292,600 from last June. Across Texas, the median price grew year-over-year by 21% from $261,000 to $315,000
More homes are selling, too.
In San Antonio, 4,024 homes sold in June 2021, a 5% increase over last year, and they sold more than twice as fast as in 2020.
“The San Antonio area housing market is continuing to move quickly, homes are selling in an average of 26 days, that’s 34 days less than last year,” said Cher Miculka, SABOR’s 2021 Chairman of the Board.
Homebuyers and realtors have lamented in the last year that there weren’t enough homes on the market. That’s changing as well. In June there were 4,476 new listings in San Antonio and its surrounding areas, a 12.32% increase over June of 2020.
Data from SABOR:
|Total Month Sales||4,024 homes|
|3,850 homes||3,306 homes|
|Average Price||$345,114 |
|Days on the Market||26 days||60 days||53 days|
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