Did you receive the city’s “STAY HOME” warning via text message Saturday evening? San Antonio is now a COVID-19 hotspot. My heart goes out to everyone adversely impacted by this virus. I hope you and your family are safe during this terribly uncertain time.
The virus has indeed caught up with the real estate market. While we sold 2,869 homes in May. That’s 842 fewer than May 2019, according to the San Antonio Board of Realtors.
The good news, though, is that we’re up from the 2,748 homes we sold in April. And home prices are doing well. Our average home price is now $281,353 – up 3 percent over this time last year, and up 5 percent since the beginning of the year. Our median price is $242,400, a 2 percent increase. And our average price per square foot is $131 – up 4 percent.
The $200,000 to $499,000 range remains our sweet spot, accounting for 65.53 percent of May sales. Those under $199,000 accounted for 27.68 percent of sales, with the rest selling at $500,000 and above.