Several days ago, the San Antonio Board Of Realtors released a report that detailed the San Antonio housing market in October 2018 compared with October 2017. This month’s report (which reports on all areas contained within the MLS) included statistics, quoted experts, and more. Since you probably don’t have time to decipher it yourself, we thought we’d give you the easy-to-read version!
As chillier October temps kick in (well, relatively...this is Texas, after all) and San Antonians finally get the opportunity to don their Fall coats and warm socks, it’s not uncommon for home sales to slow down a little bit. The summertime real estate frenzy calms down, families settle into school-year rhythms, and everyone gears up for the holidays.
However, even given these factors, home buyers in San Antonio still continued to break records, outpacing last year’s October stats in nearly every category.
SABOR 2018 Chairman of the Board Lorena Peña explained that: “The fact that more homes continue to be sold this year from previous years underscores the strength of our local economy and demonstrates that buyers are still able to find something even in such a tight market.”
Case and point: San Antonio’s October market saw 2,573 homes sales (a 2% year-over-year increase) with 2,197 sales still pending at the end of the month. Just over 97% sold for list price (AKA It’s a good time to sell in San Antonio).
In case you were curious, this brings the total 2018 sales up to a whopping 27,377 in the San Antonio and surrounding area (a 5% year-over-year increase).
Besides home sales, average and median prices also went up: a 7% rise ($257,855) and 8% rise ($223,800) respectively. This brought the price per square foot up to $123 (a 7% increase).
How long did homes take to sell? On average, properties spent 54 days on the market (which is 2 days less than October 2017), and inventory remained low at just 3.6 months.
But just what is everyone buying? Most of the single-family home sales in San Antonio (just over 54%) were priced between $200,000 and $500,000 (like 1226 Via Belcanto, pictured above).
The second most popular budget rested under $200,000, making up approximately 40% of homes sales. A prime example: 3690 Stoney Branch St.
Finally, the luxury market (defined as homes priced $500,000 and above) saw 5.4% of the action. Many of these gorgeous estates are located in historic districts or on the outskirts of the city. Case and point: 12718 Bluff Spurs Trail is located in the beloved Outer West town of Helotes, TX.
The moral of the story?
If you’re interested in getting in on the action, we’d love to help get you started. Connect with a lender and contact an agent to get started! Plus, our exclusive Buyer’s Guide (available for a FREE download here) is loaded with tips, checklist, and insights specifically created for the San Antonio buyer.
The San Antonio Board of REALTORS® is the largest professional trade organization in San Antonio and represents over 10,500 REALTOR® members. SABOR’s membership services nine counties including Bexar, Atascosa, Frio, Karnes, Kendall, LaSalle, McMullen, Medina, and Wilson. SABOR is one of over 1,200 local boards and 54 state and territory organizations of REALTORS® nationwide that make up the National Association of REALTORS® (NAR).