These stats give you an idea of what’s happening in our market.
What do the latest stats say about our San Antonio market?
Before I get to that, a quick reminder: Market stats are always 30 days in arrears, meaning we don’t get them until the 15th of the following month at the earliest. This means the following stats are taken from last May.
We had 4,148 new listings, 4,403 active listings, and 3,504 pending sales. Homes are spending an average of 33 days on the market, which is a 48% drop compared to last year (63 days), and we have about 1.3 months of inventory. The average price per square foot is $157, which is a 21% drop year over year. The number of homes priced under $200,000 constitutes 15.8% of the market, and that figure is shrinking every month. The number of homes priced from $200,000 to $500,000—the largest price range—constitutes 70.6% of the market. The numbers of homes priced over $500,000 (aka the luxury market) constitute 13.41% of the market.
Out of those 4,148 new listings, there were 3,669 single-family home sales, which is a 27% increase year over year. The median home price for single-family homes is now $282,000, which is up 17% year over year. As far as condos go, we saw 112 sales, which is a huge jump (173%) compared to the 41 we saw a year ago. The average condo price, meanwhile, rose 24% from $198,359 to $246,416. Sidenote: The rental market is also very tight and increasing at the moment, as the average rental price is $1,649.
All in all, the market is still holding firm. If you’re thinking of selling, it’s a great time to do so.
If you’d like to take advantage of these conditions and put your home on the market, give me a call. If you’re a buyer having trouble connecting the dots, give me a call as well. My team and I have helped plenty of people win the homes they want, and we can do the same for you. I hope to hear from you soon.