Bringing down the house

San Antonio’s recent surge in home prices tapers off in new report

San Antonio’s recent surge in home prices tapers off in new report

For sale sold sign with family
Local home prices are still on the rise, but not at the staggering pace of recent months. Photo by Paul Bradbury/Getty

Good news for homebuyers in the San Antonio area: The median sale price of a home inched up just slightly from October to November.

The region’s median sale price for a home rose to $307,200 in November from $305,400 the previous month, according to the San Antonio Board of Realtors. That’s an increase of less than 1 percent. From September to October, the median home price jumped 2.4 percent.

However, the median sale price soared 19 percent on a year-over-year basis, up from $258,800 in November 2020.

“As we approach the end of the year, we are beginning to see a glance into what the 2022 housing market may look like,” Cher Miculka, SABoR’s 2021 chairwoman, says in a news release. “A trend we have witnessed this quarter is more new listings hitting the San Antonio market, which means more inventory for prospective buyers.”

In November, SABoR recorded 3,323 new listings, compared with 3,861 the previous month.

Meanwhile, the number of home sales went down 4 percent from last November (3,154) to this November (3,027), according to SABoR, and went down 8.7 percent from this October (3,317) to this November.