San Antonio Real Estate Market Forecast 2022-2023.San Antonio Real Estate Market Trends (Latest Report).During the pandemic, prices and sales have surged in double-digits as buyers seize on low-interest rates and seek more space as they adjust to the new working from home culture.
The San Antonio area is a hotbed for new jobs and not just any jobs.Īccording to KSAT12, job growth in the region is specifically focused on several pivotal sectors, including technology and cybersecurity. One of the largest driving forces behind the thriving real estate market is the growing economy. 2020 was a great year for the San Antonio real estate market. That was an increase of 3% from the prior year, the fastest population growth among metros with at least 1 million people. The population in the five-county Austin metro jumped to an estimated 2,295,303 people as of July 1, 2020, according to U.S. Apart from a low supply of available homes for sale in the San Antonio area, the next reason why the market is in a boom is that the population in the area continues to increase. In addition, the price per square foot increased by 23 percent since April 2021. 101,9% of listings sold for the asking price, with 1.2 months of inventory remaining. The average and median home prices in the San Antonio area continue to rise. In April, home sales were down by 7.6% YoY. The time spent on the market now is about a month and 7 days less than last year. This scarcity of inventory, or available properties, is what keeps prices high and creates a seller's market. According to local realtors, the new housing stock is growing faster than demand, though it has a long way to go to catch up. It is presently approximately 1.2 months' worth of supply of homes, representing a strong seller's real estate market. The inventory of available homes continues to grow from previous months. San Antonio, though, remains cheaper than the rest of Texas.
The average price of a home increased by 20% to $395,847, according to data from the San Antonio Board of Realtors (SABOR), which serves Bexar and surrounding counties. In April 2022 (latest report), the median price of a home increased 23 percent year over year to $338,700. San Antonio area's housing market is hot as demand outpaces supply and prices keep hitting record highs.
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