San Antonio and its surrounding areas experienced a 27 percent rise in home sales year-over-year, for the second month in a row, according to data provided by the San Antonio Board of REALTORS® (SABOR), reporting on all areas contained within the MLS. In May a total of 3,669 homes were sold whereas 2,884 homes were sold last year.

“Home sales have continued to outpace last year, and inventory still remains low at just 1.3 months available,” said Cher Miculka, Chairman of the Board.

"Homebuyers need to be prepared to move quickly on a home they are interested in."

Home sales in May averaged $341,853 with a median price of $282,400. Comparatively, the average price throughout all of Texas was $388,261, which is 31.7 percent higher than May 2020. The median price in Texas reached $305,000, a 22.1 percent overall increase from last year.

In May there were 4,148 new listings in the San Antonio area, while Bexar County specifically reported 2,925 new listings. In all of Texas, a total of 40,884 new listings hit the market in May.

SABOR Multiple Listing Service Report: May Home Sales Recap

*Percentage increases are based on a year-over-year comparison.

Bexar County home sales increased 26 percent with 2,639 homes sold. In a year-over-year comparison, Travis County's home sales increased 44.1 percent (1,598 homes), Harris County increased 46.8 percent (4,904 homes), and Dallas County increased 35.6 percent (2,056 homes).

Judging from the numbers above as well as the pattern over the past few months, buying a home in the San Antonio area is incredibly competitive at the moment and anyone looking to sell should consider jumping on the opportunity now.  Being that San Antonio is consistently one of the leading areas to reside in in the nation and given the current status of the housing market, buyers should be doing everything they can to make themselves and their offers stand out amongst a large crowd.  If San Antonios’s supply increases to about 6 months+ of inventory, there is a chance that it can make the shift from a seller's market to a buyers market, however looking at the latest market trends, it seems safe to say that the market is going to hold strong in the sellers' benefit for the coming months.