Home sales leveled out after the summer boom, while still moving steadily for this time of year. September reported 3,651 homes sold, no change from this same month last year according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. Both average and median sales prices showed increases of 15 percent, with an average sales price of $351,379 and a median of $296,900. The month ended with 1.8 months of inventory available, indicating a continued sellers’ market.
“Home sales are still moving quickly, which is good news for sellers. Typically, homes are selling within 27 days, but there is still a lot of opportunity for buyers. September reported over 6,000 active listings and 3,808 new listings,” said Cher Miculka, Chairman of the Board. “That means there are still a lot of properties available so get with your REALTOR® to discuss your options.”
The majority of homes sold in September still fell in the mid-range of $200,000 to $500,000, with those homes making up almost 73 percent of the market. Another 13.39 percent of the market were homes priced under $200,000 and the market over $500,000 made up the remaining 13.59 percent of sales.
Bexar County fared similarly in September. A total of 2,574 homes sold in September, a 0.4 percent year-over-year increase. Meanwhile, the average sales price of a home in the county rose to $322,007, a 12.1 percent increase, and the median rose 15.6 percent to $282,000.
In Texas last month, 34,424 homes were sold, a slight decrease of 1.4 percent from 2020. The state average increased 15.7 percent to $380,170 while the median rose 16.5 percent to $311,000. The state reported just 1.6 months of inventory available.
SABOR Multiple Listing Service Report: Home Sales Recap
*Percentage increases are based on a year-over-year comparison.
It will be interesting to see if inventory continues to increase the closer we get to the holidays. Typically, that time of year starts to show a slowdown in sales. For now, the market is still a sellers market and it is said that the prices to buy are going to continue to increase. Millennials, though eager to buy, are urged to continue to save a bit before they consider buying. Because inventory is spiking a bit though, that is more promising for millennials and buyers in general.