While October showed cooling home sales, the San Antonio area still reported 3,317 homes sold, only a 5% decrease in comparison to last October. The average price for a home increased 16% and the median price appreciated by 18%, with an average sales price of $356,071 and a median of $305,400. Available inventory reduced to 1.7 months in a continued sellers’ market. All numbers included are according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR), which reports on all areas contained within the MLS.
“In 2021, we have seen different rhythms and patterns in home sales, but the market has remained strong as we approach the year’s end,” said Cher Miculka, Chairman of the Board. “More home options are available with 2,774 new listings added to the already active 3,968 listings in Bexar County alone.”
New listings increased from September to October with 3,861 available properties, with homes showing an average of 29 days on the market. Of the homes sold, 99.5% sold for the listed price, compared to 98.4% in October 2020.
Bexar County followed a similar pattern with a total of 2,438 homes sold with only a 3% decrease from the previous year. The county’s average home price rose by 17.2% to $334,122, and the median rose by 19.2% to $292,000.
Comparatively, in all of Texas, 31,961 homes were sold, decreasing 6.7% from 2020. The state average home price increased 13.9% in comparison to 2020 numbers, up to $380,399. A total of 32,499 sales were pending and 98.9% of homes were sold at the listed price across the state.
SABOR Multiple Listing Service Report: Home Sales Recap
|October 2019||October 2020||October 2021|
|Total Month Sales||2,860||3,483||3,317 (5% decrease)|
|Average Price||$277,680||$306,218||$356,071 (16% increase)|
|Median Price||$235,700||$259,500||$305,400 (18% increase)|
*Percentage increases are based on a year-over-year comparison.
With the market being as hot as it is right now it’s not uncommon to see at least 5 offers on a home as soon as it hits the market. Demand is so high that we are also seeing people buying homes before the slab is even laid. It’s clear that the housing market has not slowed down one bit as there are currently waiting lists on numerous homes. It will be interesting to see how long the market will stay like this but hopefully those looking to buy can remain hopeful as we know they are working hard to get supply on the up and up.