San Antonio Board of Realtors (SABOR) continues to identify our region as a seller’s market. But there are opportunities for buyers who partner with knowledgable real estate agents.
The following SABOR data is a year-over-year comparison from October 2023 to 2022.
Holding Value
The average price for a home in San Antonio remains unchanged from a year ago at $379,206.
Another sign of a seller’s market is that homes in September 2023 sold for an average of 93.5% of the listing price compared to 95.7% a year ago.
Back to the Future
However, the data suggests parts of the market are moving back to the norm before COVID hit. An example is days on the market.
It took an average of 66 days for a home to sell in October. This is up 47% from the previous year. Again, this is more in line with the average time it took a home to sell before the COVID era frenzy driven by low interest rates.
More homes on the market is one reason why properties are taking longer to sell. SABOR reports inventory is up to 4.4 months – an increase from 3.2 months inventory in October 2022.
Housing Sweet Spot
According to SABOR data, 70% of homes sold in October 2023 were in the $200K to $499,999 range. Next highest at 18% were homes in the $500,000 and up category. Only 11.7% homes sold in San Antonio area were $199,999 or less.
Read my blog post on how sellers and buyers can successfully adjust to current market conditions as we head into the end of the year.
