The increase in home sales in August in Bexar County, compared to the same month last year, outpaced those of any major urban county in Texas.
A six month supply of homes for sale is considered a neutral market, but San Antonio Board of Realtors Chair Kim Bragman said that dropped to around two months.
She said the inventory of available homes was more than a quarter less that what it was in August 2019.
“Folks are little concerned about putting their home on the market in the middle of COVID," she explained, "but one of the bigger reasons is that the builders have not been building as much.”
What homes are on the market were selling fast, within 53 days on average. Home sales in Bexar County in August were more than 6% higher than a year ago, beating same month sales growth in Harris, Dallas, and Travis counties.
August demonstrated a strong finish to the summer for San Antonio's housing market, putting the total number of home sales this year at 24,745, a 5% increase over 2019.
Marching into September, pending sales were at 3,431, a great indication for this month's outlook.
“The newly released numbers show continued strength for our city and county," Bragman said. "When compared to Travis, Harris, and Dallas counties, Bexar County has shown the highest growth with 18,126 homes sold, a 6.2% increase year-to-date compared to last year's numbers.”
San Antonio's average price of a home increased by 12% this month to $309,970, compared to August 2019.
Year-to-date, the average price has shown an increase of 6% year-over-year comparison, with this year's average price measured from January to August at $286,430.
Pending sales for the city for the month of August were listed at 3,431 homes.
Brian Kirkpatrick can be reached at Brian@tpr.org and on Twitter at @TPRBrian.
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