Last month's Housing Trends show San Antonio housing market reveals a dynamic landscape, characterized by shifting trends and remarkable stability. The average home price stays the same, sitting at $395,524, indicating the region's robustness. 

While median prices experienced a 6% decrease from 2022, settling at $320,950, this adjustment can be seen as an opportunity for potential homebuyers to enter the market. According to the Multiple Listing Service (MLS) Report from the San Antonio Board of REALTORS® (SABOR), there were 3,354 home sales in San Antonio, representing a 9% decrease compared to a year ago. The price per square foot declined by 4% to $183. This news can provide additional affordability for prospective homeowners. June 2023 stats show us 4,659 New Listings (14% decrease), 10,505 Active Listings (47% increase), and 2,761 Pending Listings (13% decrease). And the Average Residential Rental is $1,926/Month. 

SABOR's 2023 Chair of the Board, Sara Briseño Gerrish said, “The inventory situation in San Antonio remains relatively stable, with 3.7 months of inventory available. This balance signifies a market that is conducive to both buyers and sellers, creating a fair playing field for negotiations. Additionally, 95% of sales closed close to the original listing price, indicating that sellers are achieving their desired outcomes in most transactions. Another noteworthy trend observed is the significant increase in the number of days on the market, which rose by 121% to reach 64 days. This suggests a more deliberate decision-making process among buyers, potentially due to increased scrutiny or the need for a more thorough evaluation of available options.”

Across Texas, despite a 9.7% decrease in total sales, with 31,689 homes sold, the housing market has maintained its stability across the state. Homes stayed on the market for 50 days, with 3.2 months of inventory and 96.3% closing for their original list price. The state closed the month with 46,042 new listings, 85,022 active listings, and 29,959 pending sales.

SABOR Multiple Listing Service Report: June Home Sales Recap

*Percentage increases/decreases are based on a year-over-year comparison