Home prices in the San Antonio area continued their month-over-month climb in March, according to the latest data from the San Antonio Board of Realtors, which calls the current market conditions "strong."
The report shows that the San Antonio metro area's median price grew to $326,500 last month, an increase of 22 percent from a year ago and a 4 percent jump from February 2022, when the median price hit a record $314,000. This is the highest median price on record for the local market.
Meanwhile, the average home price for the market landed just shy of $375,000 in March 2022 — coming in at $374,168 and representing a 19 percent jump from the previous year.
Prices are up, but so are sales, with the area seeing a 1 percent increase in total closed sales in March 2022, with 3,522 homes sold.
“As we close the first quarter of the year, we are seeing a gradual increase in new listings, active listings, and pending sales for the month,” says Tracie Hasslocher, SABOR's 2022 chairman of the board. “Homes were on the market for 34 days, compared to 45 last year. The average and median prices of homes are also seeing an increase from what we saw this time last year.”
The San Antonio market continues to heat up, but it still remains a relatively affordable option for Texas buyers. SABOR notes that the median home price in Texas last month was $339,900, and the state's average price per square foot was $187, compared to $183 in the San Antonio area, meaning Alamo City still delivers a good bang for your buck.