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San Antonio – The San Antonio area saw a slight decrease in average 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. Average prices saw a 1% decrease, compared to a year ago, that amount is now reported at $366,843. Meantime, median prices saw no change from the same time last year. Residential rental saw a slight increase of 3% with the average price now at $1,815. To close the month, the area reported 3,073 pending listings, 3,995 new listings and 9,285 active listings.
“The San Antonio area is seeing the smallest year-over-year decrease in home sales in the last eight months,” said Sara Briseño Gerrish, SABOR's 2023 Chair of the Board. “We saw 3,129 closed listings in March 2023, a 12% decrease compared to the up to 30% decrease we had been reporting. Homes stayed on the market for 72 days, an increase of 100% from March 2022. The month closed with 3.2 months of inventory and 94.1% of homes closed for their original listing price.”
Bexar County saw a 10.8% decline in home sales with 2,187 closed listings in March 2023. The price per square foot decreased 1.2% to $168 and 94.4% of homes closed for their original list price. The average home price for the area had an increase of 1.3%, now at $341,302 and the median price saw no change, remaining at $299,970. The other three major counties in the state, Travis, Harris and Dallas reported median home prices of $525,000, $318,000 and $346,000, respectively.
Across the state, 29,077 homes were sold in March, an 11.3% decrease from 2022. Average home prices slightly decreased by 1.6% and median prices by 0.9%. Homes stayed on the market for 64 days, with 2.7 months of inventory and 94.6% closing for their original list price. The state closed the month with 40,788 new listings, 74,422 active listings and 31,085 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