Real Estate Report
San Antonio home sales slowed in December 2022, report finds
Rounding out 2022, the San Antonio housing market saw December come and go with decreasing sales and minor increases in prices.
According to the San Antonio Board of Realtors’ last monthly market report of the year, December’s average and median prices for both new and existing homes went up in concert — 6 percent each — outpaced even more by residential rentals increasing 8 percent.
The area’s median home price was $324,000, compared to rentals (average or median unspecified) at $1,810 per month. New homes led the increase, rising 9 percent to $354,995, while existing homes only rose 2 percent to $305,000. The annual median was almost identical to December’s at $323,000, reflecting a 13 percent rise from the previous year.
Whatever the price, San Antonio sold 36,477 homes all year, a 10 percent decrease from 2021. Bexar County finished the year in a more significant slump just for the month of December, closing on 1,704 homes for a decrease of 32 percent compared to last December.
“For the ninth consecutive month in 2022, home sales saw a decrease, this time of 30 percent,” said SABOR's 2023 Chairman of the Board Sara Briseño Gerrish. “This is the biggest year-over-year decline we’ve seen in the last couple of years.”
Briseño Gerrish points out that homes in December stayed on the market 59 days, which is more than twice as long as in 2021 — a 74 percent increase. However, she added that the month ended with fewer pending listings than last December, a decrease of 39 percent.
Across 2022, the biggest residential price change was in lots and acreage, which grew 49 percent in price per square foot, averaging out at $38. Conversely, commercial land stayed about the same, even dropping 2 percent. The biggest price decrease per square foot was in condominiums and townhomes, which dropped 37 percent to $257.