Home sales are steady and prices are, once again, on the rise in the San Antonio market.
In Juy 2021, the average sale price for a San Antonio home shot up 18 percent year-over-year to $353,811, notes the latest monthly report from the San Antonio Board of Realtors. The median sale price, meanwhile, inched even closer to the $300,000 mark, rising to $298,400 and representing a 15 percent increase from a year ago.
Despite the rise in prices, the San Antonio metro remains relatively affordable compared to the rest of the state. SABoR notes that the average Texas home price grew to $392,429 last month, and the median Texas home price reached $315,000.
Local home sales slowed slightly in July 2021, with 3,885 homes sold versus 4,285 in July 2020.
"However, the San Antonio market is continuing to show movement in home purchases and sales," SABoR says, highlighting the area's "3,249 pending sales leading into August, with 4,859 new listings in July."
The slight San Antonio slowdown mirrors a trend seen across the state, as home sales cooled throughout Texas' top markets in July.
"Looking across other metropolitan counties, Bexar, Harris, Travis, and Dallas all showed a decrease in sales this month," says SABoR chairman Cher Miculka in a release. "However, homes are being purchased more quickly, with the average number of days on the market in San Antonio at 25 days, and Bexar County at 23 days."
That's about half the time it took for homes to sell last year, she says.
With affordable prices and good inventory, it's no wonder that San Antonio homes are selling faster than before. In fact, the Alamo City currently ranks as the eighth hottest U.S. city for homebuyers, based on the number of people relocating from other (and pricier) markets.