Welcome to our San Antonio Real Estate Market Update for September 2023, where we provide you with a snapshot of the latest insights from the San Antonio Board of REALTORS® (SABOR). In this dynamic real estate landscape, we aim to keep you informed and empower you to make well-informed decisions.

Resilient Market Performance

The San Antonio real estate market has demonstrated remarkable resilience. Over the past year, a total of 3,105 residential properties were sold, marking a 6% decrease compared to the previous year. Despite this, the average sales price remained robust at $387,501, holding steady year-over-year. The median price experienced a modest 2% decline, settling at $323,000. These figures indicate that the market continues to exhibit strength and appeal.

Diverse Pricing Structure

San Antonio's real estate market offers a diverse range of pricing options. Approximately 9% of sales were priced at $199,000 or lower, emphasizing affordability. The majority of sales, comprising 73%, were within the $200,000 - $499,000 range, catering to various budget levels. High-end properties priced at $500,000 and above constituted 18% of the total sales, showcasing the market's inclusivity. The price per square foot experienced a slight 2% year-over-year decrease, amounting to $182. Homes spent an average of 57 days on the market, reflecting a substantial 104% increase from the previous year.

Buyer and Seller Commitment

Buyers and sellers in San Antonio remain committed to real estate value, with properties selling for an average of 95.3% of their original listing price. New listings entering the market totaled 4,258, reflecting a 17% year-over-year decrease. Active listings, on the other hand, increased by 25% to reach 10,964, ensuring a robust supply of housing options. Pending listings experienced an 18% year-over-year decrease, resulting in a total of 2,464. As of the end of the month, there was a reported 3.8-month supply of inventory available.

For more personalized insights and guidance in navigating the San Antonio real estate market, don't hesitate to reach out to our experienced team. We're here to assist you in making informed decisions in this dynamic market.

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