San Antonio’s housing market continued its upward trajectory as March ended with more homes sold month-over-month and year-over-year.
According to the Multiple Listing Service (MLS) Report from the San Antonio Board of Realtors (SABOR), 2,770 homes were sold in San Antonio in March, with 2,914 sales still pending. Home sales are up from February 2018, which saw 2,012 total sales, and last March, which saw 2,608 homes sold.
Market inventory stayed low at 3.3 percent — unchanged from February — and the average and median prices of of homes sold climbed 4 and 8 percent year-over-year, respectively. The average San Antonio home sale price in March was $254,628 and the median price was $219,600.
“With the tight supply, we counsel home buyers to be ready to make a quick decision,” Lorena Peña, SABOR’s 2018 Chairman of the Board, said in a statement. “It’s important to note that 97.9 percent of listings sold for list price, so you need to bring a strong offer to the table.”
In March, homes priced at $199,000 or less made up 41.9 percent of sales and homes priced between $200,000 and $499,000 accounted for 52.06 percent of sales. The remaining home sales – 6.17 percent – were priced at $500,000 or more.
March reported 8,669 listings actively on sale and 4,178 new listings. Bexar County home prices experienced year-over-year increases for March with 2,116 sales, an 8.9 percent increase. The average home price in Bexar County increased 5.6 percent to $243,822 and the median jumped 9.1 percent to $210,000.
“March’s average home price in Texas increased nearly 5 percent to $284,952," Gilbert Gonzalez, SABOR’s Interim CEO, said in a statement. "The state, overall, has low inventory, just 3.2 months, so it’s a great time to buy and sell in the San Antonio area.”
Texas reported 27,121 total sales in March, a slight 0.5 percent year-over-year decrease, with the median price at $230,500, a 4.8 percent increase.