San Antonio – The San Antonio area saw a 17% decrease in total home sales for the month of February with 2,287 closed listings, according to the Multiple Listing Service (MLS) Report from the San Antonio Board of REALTORS® (SABOR), which reports all areas contained within the MLS. The area also saw steady increases in average and median home prices with 2% increases from February 2022, now at $365,678 and $310,000, respectively. Residential rental also saw a slight increase of 3% with the average price now at $1,804.
“In February, we saw a 28% decline in existing home sales but also a 28% spike in new construction homes,” said Sara Briseño Gerrish, SABOR's 2023 Chair of the Board. “Homes stayed on the market for 70 days, an 84% increase from the same time last year. The months of inventory is being reported at 3.3 and 93.5% of homes closed of their original listing price. To close February, there were 3,531 new listings, 2,407 pending listings and 9,712 active listings.”
Bexar County saw a 16.4% decline in home sales with 1,612 closed listings in February 2023. The price per square foot increased 2.4% to $168 and 93.7% of homes closed for their original list price. The average home price for the area had an increase of 4.4%, now at $341,204 and the median price increased 3.3% to $294,945. The other three major counties in the state, Travis, Harris and Dallas also saw increases, with median home prices being reported at $500,000, $309,340 and $355,500, respectively.
Across Texas, 21,838 homes were sold in February, a 14% decrease from 2022. Average home prices slightly increased by 0.7% and median prices by 0.3%. Homes stayed on the market for 65 days, with 2.6 months of inventory and 93.7% closing for their original list price. The state closed the month with 30,777 new listings, 73,219 active listings and 25,491 pending sales.
For more information, visit www.sabor.com.
210 Realty Group offers a wide range of Real Estate Services in metro San Antonio to help find your next forever home, sell your current home or expand your investment portfolio. Our agents have years of experience in and around San Antonio and are ready to tackle all your real estate needs. We know that buying & selling can be very stressful, which is why we cater our services to fit your specific needs. Give us a call today and see how 210 Realty Group can streamline the buying and selling process for you. We can help you determine what you should sell your current home for and what is a fair market price for your new home.
Xavier Turpin, Realtor 808.866.8807