real estate report
San Antonio housing market remains steady this summer as prices fall
Home sales and median prices fell slightly in San Antonio during the month of June, continuing a pattern of growing stability in the region's real estate market.
The latest report from the San Antonio Board of Realtors (SABOR) showed a 9 percent decrease in completed home sales in the area year-over-year from 2022, totaling 3,354 transactions. In Bexar County, there were 2,288 completed home sales, about a 10.2 percent drop from last year.
San Antonio homes are currently selling for an average price of $395,524, though median prices dipped 6 percent from 2022 to $320,950. In Bexar County, median home prices are sitting at $305,000.
Sara Briseño Gerrish, the 2023 SABOR Chair of the Board, said in the report that San Antonio has about 3.7 months of inventory, which allows buyers and sellers to have a "fair playing field for negotiations."
"Additionally, 95 percent of sales closed close to the original listing price, indicating that sellers are achieving their desired outcomes in most transactions," she said.
"Another noteworthy trend observed," she continued, "is the significant increase in the number of days on the market, which rose by 121 percent to reach 64 days. This suggests a more deliberate decision-making process among buyers, potentially due to increased scrutiny or the need for a more thorough evaluation of available options."
Home sales have dropped nearly 10 percent throughout the state, so San Antonio isn't the only region experiencing a small decline.