Real Estate Rumblings
San Antonio residential real estate had another banner month in October. The San Antonio Board of Real Estate's October 2020 report, issued November 16, reveals double-digit growth across the region.
The newest SABOR report, which includes data for Bexar County, as well as Kendall, Frio, Medina, Karnes, Wilson, LaSalle, McMullen, and Atascosa counties, shows a 20 percent increase in home sales October 2020 versus October 2019. Last month, 3,463 homes were reported sold across the nine-county area.
Bexar County's home sales did even better, hitting 21.9 percent year-over-year. As SABOR mentions in its report, Bexar County nearly outpaced every other major Texas metro, including Travis County (Austin) at 19 percent and Dallas County's 15 percent. Only Houston's Harris County performed better, with a 27.4 percent increase year-over-year.
Also on the rise in San Antonio are home prices, which hit an average price of $309,513 last month, a 13 percent jump over October 2019. Sticker shock was a little less severe on the region's median price of $261,200, though that's still an 11 percent increase.
One number was trending downward, however. Average time on market decreased to 49 days, a 16 percent decrease from last year when a property spent an average of 58 days on the market. Homes in San Antonio spent an average of 60 days on the market so far in 2020.
Overall, however, San Antonio is still poised to have a record-breaking year in 2020. Though the pandemic slowed residential real estate this past spring, it came roaring back in the summer and fall months.
“Total home sales for the city are showing a nine percent increase for the year, as our upward swing continues through 2020 for sales in the local housing market,” said Kim Bragman, SABOR's 2020 chairman of the board. "We look to carry this momentum into 2021 as our city continues to grow."