San Antonio and New Braunfels home sales slightly below 2022 numbers
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Home sales are down 4% year-to-date when 2023 is compared to 2022, according to the San Antonio Board of Realtors.
The board reported 3,168 homes sold in the San Antonio and New Braunfels areas in August, compared to 3,305 homes last August.
Homes are sitting on the market a little longer than they were last year too.
“The average number of days on the market increased significantly year-over-year by 81%, reaching 56 days,” said Sara Briseño Gerrish, SABOR's 2023 chairperson. “The market continues to favor sellers, with 3.9 months of inventory, suggesting a competitive environment for buyers."
SABOR told TPR earlier this year that "casitas" or a small separate dwelling that can provide additional living space to a main house have been very popular among buyers this year.
The chair suggested builders consider adding more casitas to building plans while the trend lasts.
Despite the slight decline in sales and more days on the market, home prices have remained steady compared to last year. The local median home price in August was $387,844 compared to $387,586 in 2022.
SABOR reported the median home price underscored San Antonio's affordability and stability in comparison to other major Texas cities.
The median home price in Travis County for the same month was $564,250, while it was $375,000 in Dallas County and $330,000 in Harris County.
Statewide, the board reported home sales are down 7% from last year.
SABOR represents 15,000 realtors in ten counties, including Bexar, Atascosa, Frio, Karnes, Kendall, LaSalle, McMullen, Medina, Uvalde, and Wilson counties. It is the largest trade association in San Antonio.