Are you considering buying, selling, or renting a property in San Antonio? It’s essential to keep up with the real estate market. This blog post provides a straightforward overview of what happened in December 2021. We’ll examine factors such as home sales, prices, and the rate at which homes are selling, so you can make informed decisions for your needs.
What This Report Tells Us
This information comes from the San Antonio Board of Realtors (SABOR) MLS report. We’ll be looking at these key things:
- Sales: How many properties were sold
- Prices: How much properties cost (average and median)
- Days on Market (DOM): How long properties took to sell
We’ll look at different kinds of properties, like:
- Single-family homes (regular houses)
- Condos and townhomes
- Multifamily properties (duplexes, small apartment buildings)
- Residential lots and acreage (land for building)
- Rental properties
- Commercial properties (stores, offices)
- Commercial land
- Rural farms and ranches
The Big Picture: Market Summary
In December 2021, the San Antonio real estate market remained relatively active. Here’s a quick look at what was happening:
- Sales: Single-family home sales were about the same as last year, but condo/townhome sales were up.
- Prices: Prices continued to rise for most types of properties.
- Days on Market: Properties were still selling faster than last year.
Now, let’s dive into the details for each type of property.
Single-Family Homes: The Main Market
Single-family homes are the most common type of property, so let’s start with them:
- Sales: 3,529 homes were sold in December 2021, slightly fewer than the 3,577 sold in December 2020 (a -1% change).
- Average Price: The average price was $ 363,075, up $ 15,063 from $ 348,012 last year.
- Price Per Square Foot: The price per square foot was $ 173, up 20% from $ 145 last year.
- Days on Market: Homes were selling in an average of 34 days, much faster than the 49 days in December 2020 (a -31% change).
- Median Price: The median price (the middle price) was $ 311,000, up $ 19,000, or 6.1%, from $ 311,000 last year.
- New Listings: 2,784 new homes were listed for sale.
- Active Listings: There were 4,867 homes available for sale.
- Pending Sales: 2,642 homes were under contract (an offer was accepted).
What does this mean?
Although sales were about the same as last year, prices increased, and homes were selling significantly faster. This means it was still a good time to be a seller.
Condos and Townhomes: A Popular Option
Condos and townhomes can be a good choice if you want less yard work or want to live closer to the city. Here’s what happened in December 2021:
- Sales: 92 condos and townhomes were sold, representing a 14% increase from 81 in December 2020.
- Average Price: The average price was $ 245,858, down 20% from last year’s $20308,722.
- Price Per Square Foot: The price per square foot was $ 199, down $1,599, or 15% from the previous year.
- Days on Market: Condominiums and townhomes were selling in an average of 52 days, faster than the 94 days last year (a 45% decrease).
- Median Price: The median price was $ 183,300, up $ 16,300, or 9%, from $ 167,000.
- New Listings: 68 new condos and townhomes were added to the market.
- Active Listings: There were 186 active listings.
- Pending Sales: There were 60 sales pending.
What does this mean?
The condo and townhome market saw an increase in sales, which is excellent; however, prices were down.
Multifamily Properties: Investing in Real Estate
Multifamily properties (like duplexes) are often bought by investors who rent them out. Here’s how this market looked:
- Sales: 48 multifamily properties were sold, down 8% from 52 in December 2020.
- Average Price: The average price was $ 433,916, up 41% from $41308,829 last year.
- Price Per Square Foot: The price per square foot was $ 155, up 25% from $155 last year.
- Days on Market: These properties were selling in an average of 78 days, faster than the 96 days last year (a -19% change).
- Median Price: The median price was $ 335,000, up $16,000, or 4.8%, from $319,000 last year.
- New Listings: 37 new multifamily properties were listed.
- Active Listings: There were 98 active listings.
- Pending Sales: There were 34 sales pending.
What does this mean?
Although sales were down slightly, prices increased significantly, and properties were selling more quickly. This means the multifamily market was still strong.
Residential Lots and Acreage: Building Your Dream
Want to build your own home or have some land? Here’s what was happening with residential lots and acreage:
- Sales: 372 lots and acreage properties were sold, about the same as the 373 sold in December 2020 (a 0% change).
- Average Price: The average price was $ 152,343, up $23,856, or 23% from $ 152,343 last year.
- Days on Market: These properties were selling in an average of 91 days, much faster than the 166 days last year (a -45% change).
- Median Price: The median price was $ 120,700, up $43,700, or 43% from last year, when it was $120,700.
- New Listings: 419 new lots and acreage properties were added to the market.
- Active Listings: There were 1,942 active listings.
- Pending Sales: 294 sales were pending.
What does this mean?
Sales were about the same as last year, but the prices increased substantially.
Residential Rentals: Finding a Place to Rent
If you’re looking to rent a place in San Antonio, here’s what the market looked like in December 2021:
- Sales: 875 residential rental properties were rented, down 4% from 907 in December 2020.
- Average Price: The average rent was $ 1,685, up $101,526, or 10%, from last year.
- Price per 100 Square Feet: The cost per 100 square feet was $ 100, up 11% from $90 last year.
- Days on Market: Rental properties were rented in an average of 36 days, faster than the 44 days last year (an 18% decrease).
- New Listings: 1,073 new rental properties were added to the market.
- Active Listings: There were 1,182 active listings.
- Pending Sales: 778 rentals were pending.
What does this mean?
There were fewer rentals sold, but the rent has gone up.
Commercial, Land, and Farms & Ranches
Here’s a quick look at some other types of real estate:
- Commercial: Sales were down 13%, but the average price increased significantly (101%).
- Commercial Land: Sales increased by 80%, and the average price rose by 73%.
- Rural Farms & Ranches: Sales were up 30%, and the average price was up 52%.
Year-to-Date Numbers: The Whole Year in Review
Let’s look at the year-to-date (YTD) numbers to see how the market did overall in 2021:
- Single-Family Homes: Sales up 5%, average price up 16%.
- Condos and Townhomes: Sales up 32%, average price up 15%.
- Multifamily Properties: Sales up 13%, average price up 16%.
- Residential Lots & Acreage: Sales up 23%, average price up 31%.
- Residential Rentals: Sales down 14%, average price up 8%.
- Commercial: Sales up 44%, average price up 24%.
- Commercial Land: Sales up 55%, average price up 85%.
- Rural Farms & Ranches: Sales up 37%, average price up 45%.
What does this mean?
The year-to-date numbers indicate that the San Antonio real estate market was generally strong in 2021, with sales and prices increasing for most property types.
Sales by Area: Where Were Homes Selling?
The report also breaks down sales by different areas of San Antonio. This can be helpful if you’re interested in a specific neighborhood. (Note: The full report has detailed numbers for each region.)
Generally, most areas saw an increase in average sales price compared to December 2020. The price per square foot went up in most areas. To get an idea of what’s happening in a specific location, you need to consult the relevant data in the document.
What This Means for You: Buyers and Sellers
So, what does all this mean if you’re thinking about buying or selling in San Antonio?
- For Buyers: The market remains competitive, so be prepared to act quickly. Get pre-approved for a loan and work with a real estate agent who knows the market.
- For Sellers: It’s Still a Good Time to Sell! Work with a real estate agent to price your home accurately and prepare it for showings.
Conclusion: Stay Informed for Success
The San Antonio real estate market is constantly changing. By staying informed about the latest trends, you can make intelligent decisions. Whether you’re buying, selling, or renting, be sure to talk to a qualified real estate professional for personalized advice.
Disclaimer: This is a summary of the December 2021 San Antonio Board of Realtors MLS report. Market conditions can change. Consult with a qualified real estate professional for personalized advice.