According to December reports, the San Antonio and surrounding areas housing market ended the year strong. Reports showed a total of 3,529 homes sold in December with only a 1% decrease in home sales from this time last year.
Average home sales price rose 15% while the median price increased 19% to $363,075 and $311,000, respectively.
“We saw a strong end to the year in the San Antonio Area with an increase in pending sales and new listings compared to 2020,” said Tracie Hasslocher, SABOR’s 2022 Chairman of the Board. “With a decent increase in median and average home prices we only saw a decrease of 48 closed sales with 99.8% closing at list price.”
On average homes spent 34 days on the market before selling. The reports also showed a 20% increase in the price per square foot from 2020.
Bexar County reported a total of 2,509 single-family homes sold in December for a 1.3% year-over-year increase. The average price in the county increased 15% to $337,724 while the median price rose 18.5% to $295,000. The price per square foot also rose 20.6% and 99.2% of homes sold for list price.
Comparatively, the state of Texas saw a decrease of 2.8% in homes sold year-over-year. December closed with only 1.2 months of inventory.
It is expected to remain a seller’s market for the remainder of 2022 as housing inventory remains low in many major cities. Zillow predicts home values for all of Bexar County will continue to rise over the next twelve months. The San Antonio and surrounding area are still a very strong, steady market and it doesn’t look like that will be changing in 2022.