The question on every homeowner and aspiring homeowner’s mind is: What’s the housing market look like?

According to the latest San Antonio area housing report from the San Antonio Board of Realtors (SABOR), the area saw a decrease in home sales for the fourth month in a row. The average number of days a home stayed on the market increased to 27 days, compared to July 2021.

The month of July saw an increase of 12 and 15 percent in average and median home prices, respectively, from the same time last year. Despite the longer days on the market, the report shows that 99.6% of homes sold for their listing price. The price per square foot also saw an increase of 35 percent, now at $186. 

What does this mean for homeowners? The housing market is still strong and homes have still gained a higher appreciation year-over-year than they have in the past, meaning it is still a great time to sell your home. However, keep in mind that buyers are taking their time and we are no longer seeing houses sell as soon as they hit the MLS or the bidding wars that we saw in 2021.