San Antonio – The San Antonio area continues to see an increase in average and median home prices, according to the Multiple Listing Service (MLS) Report from the San Antonio Board of REALTORS® (SABOR), which reports all areas contained within the MLS. From this time last year, there has been a 16 percent increase in average home prices and a 24 percent increase in median prices. This May also saw an increase in the months of inventory with 1.8, compared to 1.28 a year ago.
“In the month of May, sales decreased slightly from a year ago,” said Tracie Hasslocher, SABOR's 2022 Chairman of the Board. “The San Antonio area saw a 2 percent decrease in sales and a 20 percent increase in price per square foot.101.7 percent of homes sold for the list price and stayed on the market for an average of 27 days (about 4 weeks). Closing the month, there were 4,621 new listings, 3,295 pending sales, and 6,029 active listings, which is an increase of 37 percent from May 2021.”
The San Antonio-New Braunfels MSA report shows May with 3,504 closed sales, 4,542 new listings, 5,365 active listings, and 3,089 pending sales. The average price for a home in the area increased 18.1 percent to $399,370. The median price also increased to $347,530, a 24.1 percent increase. 101.8 percent of homes sold for their listing prices and were on the market for 27 days.
Home sales in Bexar County saw an increase of 3.9 percent in May 2022. In total, 2,521 homes were sold in the area. That is a 3.9 percent decrease from May 2021. 101.9 percent of homes were sold for list price and the price per square foot increased to $178. The average home price for the area increased 17.6 percent to $372,347 and the median price increased 21.7 percent to $325,000. Other major counties in the state also reported an increase in median home prices. Travis County is sitting at $694,000, Harris Co. at $349,362, and Dallas Co. at $415,000 in median home prices.
Across Texas, there was a slight cooling in sales with 34,363 homes sold, a decrease of 1.1 percent from May 2021. The state saw an increase of 17.1 percent in average home prices and a 19.9 percent increase in median prices. The price per square foot also increased by 20.6 percent, now at $199. Homes stayed on the market for 26 days (about 3 and a half weeks), with 1.6 months of inventory and 102 percent selling for their list price. May 2022 closed with 47,553 new listings, 50,238 active listings, and 35,055 pending sales.
For more information, visit www.sabor.com.
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Xavier Turpin, Realtor 808.866.8807