San Antonio Real Estate Market Report – May 2024 – Data Provided By The San Antonio Board of Realtors

Welcome to the May 2024 San Antonio real estate market report. This update provides valuable insights into the current trends and statistics that shape our local housing market. Whether you’re buying, selling, or investing in real estate, staying informed about market dynamics is crucial.

Key Market Statistics for May 2024

Let’s dive into the essential metrics for the San Antonio real estate market:

  • Total Sales: 3,472 (3% decrease compared to May 2023)
  • Average Price: $371,202 (2% decrease compared to May 2023)
  • Median Price: $314,000 (no change from May 2023)
  • Close to Original List Price: 94.8%
  • Days on Market: 69 days (6% increase from May 2023)
  • Price per Square Foot: $178 (1% decrease from May 2023)
  • Months of Inventory: 4.9 months
  • Average Residential Rental: $1,889
  • New Listings: 5,541
  • Active Listings: 13,768
  • Pending Listings: 2,848

Market Trends and Insights

The San Antonio real estate market has shown resilience with steady median prices, despite a slight decrease in total sales and average prices. Here are some notable trends:

Home Sales and Prices

  • Sales Volume: With 3,472 homes sold, there has been a 3% decrease in sales compared to last year. This indicates a slight cooling in the market activity.
  • Price Stability: The median home price remains steady at $314,000, while the average price has seen a slight dip to $371,202. This stability in median price suggests that the market is balancing itself.

Inventory and Listings

  • Active Listings: There are currently 13,768 active listings, providing a variety of options for buyers in the market.
  • New and Pending Listings: With 5,541 new listings and 2,848 pending listings, the market remains dynamic with fresh inventory entering regularly.

Market Efficiency

  • Close to List Price: Homes are selling at an average of 94.8% of their original list price, highlighting the market’s competitive nature.
  • Days on Market: The average days on market has increased to 69 days, suggesting that homes are taking slightly longer to sell compared to last year.

Regional Insights

The median home prices across different counties in Texas show significant variations:

  • Dallas County: $390,000
  • Harris County: $335,000
  • Travis County: $580,000
  • Bexar County: $302,000

Expert Commentary

The San Antonio market continues to demonstrate resilience with stable median prices and a diverse inventory. The slight decrease in average prices and total sales suggests a more balanced market, which could provide opportunities for both buyers and sellers.

Conclusion

The San Antonio real estate market in May 2024 presents a stable yet dynamic environment. Whether you’re looking to buy, sell, or invest, understanding these market trends can help you make informed decisions.

For more detailed information and personalized advice, feel free to contact us at (210) 870-3639.