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Home sales fall in San Antonio, but prices rise

Home sales in the San Antonio area saw their fourth straight month of declines, falling 15% in July compared to the same period last year.

Countywide home sales were down nearly 17% in July compared to 2021, the San Antonio Board of Realtors reported. Higher prices and increased mortgage rates and inflation have been cited as factors in the decline in home sales both locally and nationally.

While home sales are falling, home sellers aren’t panicking just yet. SABOR reports that the San Antonio area saw a 12% and 15% increase in median and median home prices, respectively, from the same time last year. According to the Multiple Listing Service report, which reports all areas included in the MLS, the median home price was $389,486 and the median price in July 2022 was $341,600.

Compared to July 2021, the average number of days a home stayed on the market increased by 27 days. The price per square foot has increased by 35%, now at $186.

“While median and median home prices continue to rise, this is the fourth consecutive month we’ve seen a decline in home sales,” said Tracy Haslocher, SABOR’s 2022 board chair. “3,333 homes were sold in July, down 15% from July 2021. To close out the month, there were 5,114 new listings and 9,068 active listings, both of which were higher than last year. However, there was a 12% decrease in pending sales.

The San Antonio-New Braunfels MSA report shows July 2022 closed with 3,341 sales, 5,160 new listings, 8,686 active listings and 2,809 pending sales. The median home price in the area increased 13.5 percent to $395,092. The median price rose 14.6 percent to $338,000 with nearly 99.6% of homes sold for their list prices and on the market for an average of 27 days, according to a news release from SABOR.

Home sales in Bexar County decreased 16.8% in July 2022 with 2,325 homes sold. The price per square foot increased to $177 from July 2021. The area’s median home price rose 13.6 percent to $368,139 and the median home price increased 14.3 percent to $320,000.

Other major counties in the state saw increases in median and median prices. Travis County median price $646,325, Harris Co. $335, and Dallas Co. At $377,575.

Statewide, 30,847 homes were sold, a 15.4 percent decrease from July 2021. Median home prices increased 10 percent and median prices increased 12.7 percent.

Texas homes stayed on the market for an average of 26 days, 2.5 months of inventory and 99.1 percent sold for their list price. SABOR reported that the state closed the month with 48,934 new listings, 78,675 active listings and 29,736 pending sales.

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