According to the Multiple Listing Service Reports from the San Antonio Board of REALTORS, the San Antonio housing market has seen a slight decline in median home prices for the third month in a row. From May 2022 to May 2023, the average house prices have not changed, leaving the average price $388,593. The median home prices decreased by 3%, now sitting at $324,750. The price per sqft also decreased by 2.5% to $172/sqft. Residential rental prices had a slight increase of 3% with an average price now at $1,905.

May 2023 saw a 14% decrease in existing home sales, while new construction homes saw a 36% increase. Average and median prices for existing homes also saw a decline of 1% and 4%, respectively, compared to the same period a year earlier. However, new construction homes saw increases in their prices, now reported at $384,973.

“In May, the area reported 3,478 closed listings, with 95.2% closing for their original list price, 3.7 months of inventory, and an average of 65 days on the market,” said Sara Brisen?o Gerrish, SABOR's 2023 Chair of the Board.

San Antonio ended the month of May with 4,575 New Listings, 10,005 Active Listings, and 2,887 Pending Sales.

SABOR Multiple Listing Service Report: Home Sales Recap

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