San Antonio, Texas – The latest Multiple Listing Service (MLS) report from the San Antonio Board of REALTORS® (SABOR)
indicates dynamic trends in the local real estate market for May 2024. A total of 3,472 homes were sold, reflecting a 3%decrease from May 2023. The average home price decreased by 2% to $371,202, while the median price remained stable at$314,000. The average residential rental price saw a slight increase, reaching $1,889, highlighting continued strength in therental market.
“The average number of days on the market increased by 8% to 77 days, suggesting a slightly longer selling period forproperties compared to the same time a year ago,” said Will Curtis, SABOR's 2024 Chair of the Board. “The months ofinventory remained balanced at 4.5. New listings surged by 15% to 4,767, while active listings saw a significant 34% increaseto 12,727, indicating ample options for buyers.”
Statewide, total sales saw an impressive 8.6% increase, with 29,038 homes sold. Both average and median prices experiencedgrowth, with the average price rising by 4.4% to $436,730, and the median price increasing by 1.8% to $345,000. Medianprices varied across major counties in Texas, with Bexar County at $299,990, Travis County at $561,425, Harris County at$335,000 and Dallas County at $385,530.
Additional key metrics from the May 2024 report include:
- $181 per square foot, a 1% increase
- 94.5% of homes closed at the original list price
- 2,802 pending listings, a 16% decrease
Price distribution showed:
- 9.2% of sales priced at $199,000 and below
- 74.2% of sales priced between $200,000 and $499,000
- 16.5% of sales priced at $500,000 and up
MAY2022 | MAY2023 | MAY2024 | |
Total Month Sales | 3,592homes | 3,594homes | 3,472homes |
Average Price | $388,655 | $378,677 | $371,202 |
Median Price | $335,000 | $315,000 | $314,000 |
*Percentage increases/decreases are based on a year-over-year comparison.
For more information, visit www.sabor.com.
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