In May, we sold a total of 3,669 homes – we sold 2,884 homes this time last year. Home sales have continued to outpace last year and inventory still remains low at just 1.3 months available. Most homes sold in San Antonio (70.67 percent of them) are in the $200,000 to $499,000 range; 15.86 percent sold are $199,000 and under and 13.41 percent are $500,000 and above.
Prices in May averaged $341,853 with a median price of $282,400. Comparatively, the average price throughout all of Texas was $388,261, which is 31.7 percent higher than May 2020. The median price in Texas reached $305,000, a 22.1 percent overall increase from last year. So prices are definitely continuing to climb.
Here’s a look at where we are, year-to-date, compared to previous years:
|Total Month Sales||3,669 homes
|2,884 homes||3,608 homes|
|Days on the Market||33||63||56|
As I’ve said for the past many months, buyers need to be prepared to move quickly on a home they are interested in. Days on the market here in San Antonio have been sliced in half. It use to take about 63 days to sell a house. Now the average is 33 days.
Multiple offers are coming in on homes the same day they’re listed – and it’s not unusual for people to make offers without actually seeing the house in person!
Even though it’s a seller’s market, those selling their homes still need a trusted partner to market the property properly, manage showings and inspections and study multiple offers so that the right one is selected. The complexity of buying and selling is especially tricky these days.
I’m here to support your real estate success! If you’d like to brainstorm some ideas about adding to, or adjusting, your real estate portfolio, I’d love to get together and help you take advantage of this incredible market!