The San Antonio housing market is showing a mix of stability and opportunities for both buyers and sellers as of mid-2024. Here are the key highlights:
Sales and Inventory: The market remains active with a total of 3,244 homes sold in March 2024, marking a 3% increase compared to the previous year. The inventory levels are balanced, with a 4.4-month supply of homes, indicating neither a strong buyer's nor a seller's market (Norada Real Estate Investments) (Redfin) .
Prices: The median home price in San Antonio is $310,223, reflecting a stable market with a slight increase in average home prices by 2% to $370,824. However, the median listing home price in March 2024 was $300,000, unchanged year-over-year (Norada Real Estate Investments) (Rocket Homes) .
Market Dynamics: Homes in San Antonio are selling for about 1% below the asking price on average, with properties typically staying on the market for around 53 days. This slight increase in days on market suggests buyers have more options to choose from (Redfin) (Realtor) .
Rental Market: The average residential rental price has held steady at approximately $1,820, indicating a balanced rental market. This stability in rental prices complements the broader real estate trends in the city (Norada Real Estate Investments) .
Overall, San Antonio's housing market offers a favorable environment for buyers due to the balanced inventory and stable prices, while sellers can benefit from the continued demand and slight price increases. For those considering entering the market, consulting with a local realtor can provide more tailored insights and help navigate specific neighborhood dynamics.
Navigating the current housing market can be complex, but you don't have to do it alone. Whether you have questions, concerns, or need professional assistance to make informed decisions, the team at Texas Roadrunner Realty is here to help. Reach out to us today to ensure you make the most of the opportunities in San Antonio's dynamic real estate market. Contact Texas Roadrunner Realty for expert guidance and personalized support!
