Real Estate Rumblings
San Antonio housing market poised for strong end to 2020 despite pandemic
San Antonio's housing market is poised for a strong end to a strange year. In its November report, the San Antonio Board of Realtors noted that single-family home sales — and prices — saw another steady rise last month, a trend echoed throughout most of Texas' major metro areas.
November home sales jumped 27 percent last month year over year to 3,125 while average home prices rose 20 percent to $311,604. Median price also inched higher, hitting $260,900 last month, a 13 percent increase over November 2019.
During that same period, days on the market plunged 18 percent to just 49 days. Even with that drop, properties in San Antonio and Bexar County are moving slower than the national average, which averaged 25 days so far in 2020.
“As we look to the finale of the year, the housing market is one of the things that has remained steady and strong in 2020,” said Kim Bragman, SABOR's 2020 chairman of the board. "Our home sales are up by 10 percent in the city, year-to-date, and overall, in the state of Texas, 335,836 homes have been sold. Our state, and specifically San Antonio, is definitely a great place to live, and the numbers show it."
In Bexar County, home sales increased 22.4 percent to 2,249 sales. And though Bexar County remains the most affordable market among Texas' four major metros, its increase in home sales last month nearly matched the red-hot Travis (23 percent), and surpassed that of Harris (20.3) and Dallas counties (18.2).
In total, 2020 home sales across the San Antonio region are already up 10 percent over 2019, even after a major spring slowdown sparked by the pandemic. With 6,197 active listings and 3,092 new listings popping up in San Antonio and the surrounding areas last month, that trend is likely to continue through December to make this year one for the record books.