Real Estate Report
San Antonio home prices still on the rise despite dropping sales, report says
In San Antonio, the average home price, median home price, and price per square foot continue to climb, the latest monthly report from San Antonio Board of Realtors (SABOR) shows.
The new report, released October 18, underscores the market's continued trend of rising prices. In September 2022, the San Antonio area's median home price grew 14 percent year-over-year to $337,200. The average home price was up 12 percent from a year ago, to $389,752, and the price per square foot jumped 15 percent, to $188.
Yet the market, in terms of sales, continues to cool. SABOR reports that in September, 3,167 homes sold in the area, a 13 percent drop from the previous year. Homes also spent an average of 42 days on the market, up a significant 14 days from the buying frenzy of last fall.
“This is the sixth consecutive month where we see a decrease in sales," says SABOR's chairman of the board, Tracie Hasslocher, in a release, "however 98.3 percent sold for their listing price."
The trend of rising prices and falling sales was seen at the statewide level in September, too. According to SABOR's report, Texas home sales in September 2022 were 15.1 percent lower than a year ago. Meanwhile, the state's average home price increased by 10.1 percent, and the median price rose 11.7 percent.
On average, a Texas home spent 38 days on the market, selling a few days faster than the San Antonio average.