San Antonio home sales fell in November but prices kept going higher

Judith Zeng

Household income in the San Antonio location fell in November, but the median cost saved climbing as purchasers observed fewer houses accessible.

Potential buyers in Bexar and surrounding counties acquired 3,027 houses final month, a 4 percent decline from a 12 months back, according to the San Antonio Board of Realtors.

Spring is generally the fast paced season for gross sales, but pandemic-induced lockdowns and limitations in 2020 pushed that activity later in the year. Gross sales this winter season are coming down from people superior levels.

Even with the revenue slowdown, rates are continue to surging amid powerful demand from customers and a limited provide of homes for sale.

The median residence price soared to $307,200 in November, up 18.7 % from a year previously. It experienced surpassed $300,000 for the initial time in October.

The area’s inventory of obtainable houses declined to 1.6 months, down from 1.7 months in Oct and 2 months in November 2020, but new listings of households for sale had been up 7.5 per cent from a calendar year earlier.

“As we method the close of the 12 months we are commencing to see a look into what the 2022 housing sector could search like,” stated Cher Miculka, SABOR’s board chairman. “A craze we have witnessed is additional new listings hitting the San Antonio industry, which indicates additional stock for future purchasers.”

This graphic exhibits property gross sales in November. 

Monte Bach

Approximately 71 per cent of the houses offered in November were priced in between $200,000 and $499,000, and 16.29 per cent price $500,000 or more. The relaxation marketed for significantly less than $200,000.

About 99.5 % marketed for the outlined value, up from 98.2 percent that did a yr earlier.

Across Texas, 30,415 homes were being marketed in November, up 2.3 per cent from a year earlier. The statewide median selling price jumped 18.5 per cent to $320,000 and inventory dipped to 1.4 months, down from 1.9 months in November 2020.

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