SAN ANTONIO – Home sales in San Antonio are down nearly 20% from one year ago as the price of real estate continues to climb.
On Friday, the San Antonio Board of Realtors released the housing market statistics for October, which show the average and median prices for all homes (new and existing) both rose 8% to $382,518 and $323,190, respectively.
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This is on trend with the rest of Texas, which saw a 21% decline in homes sold compared to Oct. 2021 and an 8% increase in home prices.
“Homes spent an average of 44 days on the market and 95.8% sold for their listing price,” Tracie Hasslocher, SABOR’s 2022 Chairman of the Board, said of San Antonio’s housing market. “284 homes sold for $199,999 and below, 1,534 sold for $200,000-$399,999 and 836 sold for $400,000 or more.”
Recently a new statistic shared by the Real Estate site Redfin noted that the salary requirement for the median home in San Antonio went up 49.4% in one year.
Increasing home prices and skyrocketing mortgage rates have contributed to the housing market fluctuations over the past year.
The data table below charts the median single-family home value for seven of the biggest cities in Texas using data from Zillow:
Zillow uses data from public property records, tax records, recent home sales in the area, and user-submitted information to come up with an approximate market value for a home — whether it’s on the market or not. The data often differs from SABOR’s statistics because SABOR only uses data from homes that are currently listed or recently sold.