Blog Post: April 2024 San Antonio Housing Market Report
As we look back on April 2024, the San Antonio housing market continues to showcase its dynamic nature, providing valuable insights for both buyers and sellers. Here’s a detailed breakdown of the latest statistics and what they mean for the real estate landscape in our region.
Total Sales and Pricing Trends
In April 2024, the total number of home sales in San Antonio reached 3,188, marking a 7% increase compared to April 2023. This uptick in sales volume reflects a robust demand for housing in the area.
The median home price now stands at $310,000, while the average price is $378,171. These figures represent a slight year-over-year increase, suggesting a stable market with moderate appreciation in home values.
Market Dynamics
One of the critical metrics to consider is the “close to original list price” percentage, which is currently at 94.5%. This indicates that homes are generally selling close to their listed prices, highlighting the market's competitive nature.
The average days on market for a property is 77 days, reflecting the time it typically takes for homes to sell. Additionally, the price per square foot has reached $181, emphasizing the value buyers are placing on space.
Inventory and Listings
Inventory levels have seen a significant shift. The months of inventory available now stands at 4.5 months, a 16% increase from last year. This rise in inventory could offer more choices for buyers, potentially easing some of the competitive pressures.
New listings have surged by 15%, with 4,767 homes hitting the market. Active listings have also seen a substantial increase of 34%, bringing the total to 12,727. Pending listings are currently at 2,802.
Market Segments
Breaking down the price ranges, 9.2% of homes sold for $199,999 or less, while the majority (74.2%) sold for between $200,000 and $499,999. High-end properties, priced at $500,000 and above, accounted for 16.5% of sales.
Comparative Insights
Comparing San Antonio to other Texas counties provides additional context. Dallas County's median price is higher at $385,530, while Harris and Travis counties report median prices of $335,000 and $561,425, respectively. Bexar County, where San Antonio is located, has a median price of $299,990.
Across Texas, total sales reached 29,038 with a median price of $345,000 and an average price of $436,730.
Uvalde County Spotlight
Uvalde County, although smaller in market size, has shown notable changes. Total sales increased by 64.3%, reaching 23 homes. The average price is now $250,013, with a median price of $229,000, indicating significant growth in this area.
Conclusion
The April 2024 statistics indicate a healthy and expanding real estate market in San Antonio and surrounding areas. With rising inventory and steady price increases, the market presents opportunities for both buyers and sellers. For a detailed report and further insights, visit SABOR.com.
Stay tuned for more updates and call me with any questions you have about real estate!
