Are you thinking about buying, selling, or renting a home in San Antonio? Staying up-to-date with the real estate market is a smart move! This blog post will break down what happened in April 2022, using the most recent information from the San Antonio Board of Realtors (SABOR). We’ll cover essential topics such as home sales, prices, and the rate at which homes are selling, to help you make informed decisions.
What This Report Includes
The information we’re using comes directly from the San Antonio Board of Realtors (SABOR) MLS report. We’ll be looking at:
- Sales: How many properties were sold during the month?
- Prices: How much properties cost, including the average price and the median price (the middle price).
- Price per Square Foot: A helpful way to compare the cost of different-sized homes.
- Days on Market (DOM): How long it took for properties to sell, on average.
- New Listings: How many new properties were listed for sale during the month?
- Active Listings: How many properties were available for purchase at the end of the month?
- Pending Sales: How many sales were waiting to close (under contract)?
We’ll be looking at the following types of properties:
- 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
Overall Market Conditions in April 2022
In April 2022, the San Antonio real estate market continued to show activity, but we’re seeing some shifts. Here’s a quick overview:
- Sales: Single-family home sales were down a bit compared to last year.
- Prices: Prices were still higher than last year for most property types.
- Days on Market: Homes were generally selling faster than last year.
Let’s take a closer look at each property type to get a more detailed picture.
Single-Family Homes: The Foundation of the Market
Single-family homes make up the largest segment of the market, so we’ll start here:
- Sales: 3,255 single-family homes were sold in April 2022, representing an 8% decrease from the 3,524 sold in April 2021.
- Average Price: The average price of a single-family home was 395,847,up20395,847, up 20% from395,847,up20329,678 last year.
- Price Per Square Foot: The average price per square foot was $ 188, up 23% from $ 188 last year.
- Days on Market: Homes were selling in an average of 31 days, faster than the 38 days in April 2021 (a -18% change).
- Median Price: The median price (the middle price) was $ 338,700, up 23% from $232,575 last year.
- New Listings: 4,260 new homes were listed for sale during the month.
- Active Listings: There were 4,800 homes available for sale at the end of April.
- Pending Sales: 3,290 homes were under contract, awaiting closure.
What does this mean?
Even though there were fewer homes sold, prices were significantly higher than last year, and homes sold more quickly. This suggests that the market remains favorable for sellers, but the slight dip in sales could be a sign of a cooling trend.
Condos and Townhomes: A Great Option for Low-Maintenance Living
Condos and townhomes are a good choice for those who want less yard work or a more urban lifestyle. Here’s how they performed in April 2022:
- Sales: 96 condos and townhomes were sold, representing a slight 2% increase from the 94 sold in April 2021.
- Average Price: The average price was $ 267,219, up 30% from $ 267,219 last year.
- Price Per Square Foot: The average price per square foot was 214,up19214, up 19% from214,up19179 last year.
- Days on Market: Condos and townhomes were selling in an average of 37 days, much faster than the 78 days last year (a -53% change).
- Median Price: The median price was $ 211,700, up 41% from $ 150,000 last year.
- New Listings: 105 new condos and townhomes were listed for sale.
- Active Listings: 162 were available for sale at the end of April.
- Pending Sales: There were 99 pending sales.
What does this mean?
The condo and townhome market saw slightly more sales, with prices and the median price increasing substantially, and properties selling much faster than last year. This indicates strong demand for this type of housing.
Multifamily Properties: An Investment Opportunity
Multifamily properties (like duplexes and small apartment buildings) are often bought by investors who rent them out. Here’s how the multifamily market looked in April 2022:
- Sales: 45 multifamily properties were sold, representing a 15% increase from the 39 sold in April 2021.
- Average Price: The average price was $430,459, up $22,430,459, or 22%, from $ 408,029 last year.
- Price Per Square Foot: The average price per square foot was $ 168, up 22% from $ 168 last year.
- Days on Market: These properties were selling in an average of 45 days, faster than the 52 days last year (a -13% change).
- Median Price: The median price was $ 386,400, up $ 35,400, or 9%, from $ 351,100 last year.
- New Listings: 67 new multifamily properties were listed for sale.
- Active Listings: 106 properties were available for sale at the end of the month.
- Pending Sales: There were 32 sales pending.
What does this mean?
The multifamily market was performing well, with more sales, higher prices, and faster selling times. This suggests that investors remain highly interested in San Antonio’s multifamily properties.
Residential Lots and Acreage: Building Your Dream
If you’re looking to build your own home or just want to own some land, here’s what’s happening with residential lots and acreage:
- Sales: 434 lots and acreage properties were sold, a decrease of 23% from the 560 sold in April 2021.
- Average Price: The average price was $ 164,026, up $25,031,070, or 15.5% from $ 164,026 last year.
- Days on Market: These properties were selling in an average of 88 days, much faster than the 147 days last year (a -40% change).
- Median Price: The median price was $ 122,300, up 35% from $ 122,300 to $166,800 last year.
- New Listings: 624 new lots and acreage properties were listed for sale.
- Active Listings: 1,965 properties were available for sale at the end of the month.
- Pending Sales: There were 425 sales pending.
What does this mean?
Even though there were fewer sales, the prices for lots and acreage increased significantly, and properties sold much faster.
Residential Rentals: Finding a Place to Lease
If you’re looking to rent a place in San Antonio, here’s what the market looked like in April 2022:
- Sales (Rentals): 1,324 residential rental properties were leased, representing a 14% increase from 1,161 in April 2021.
- Average Price (Rent): The average rent was $ 1,805, up $ 141,805, or 14% from last year.
- Price per 100 Square Feet: The cost per 100 square feet was $106, up 16% from $90 last year.
- Days on Market: Rental properties were being rented in an average of 37 days, faster than the 35 days last year (a 6% change).
- New Listings: 1,448 new rental properties were added to the market.
- Active Listings: 1,247 rental properties were available.
- Pending Sales: 1,263 rentals were pending.
What does this mean?
The rental market was also strong, with more rentals being leased and higher average rents. This confirms that demand for rental properties in San Antonio remains high.
Commercial, Land, and Farms & Ranches
Here’s a quick overview of some other types of real estate:
- Commercial: Sales were down 8%, but the average price was up 56%.
- Commercial Land: Sales were down 8%, but the average price was up a massive 856%! This indicates a significant increase in the value of commercial land.
- Rural Farms & Ranches: Sales were up 8%, and the average price was up 348%.
Year-to-Date Numbers: A Broader Perspective
Examining the year-to-date (YTD) numbers provides a clearer understanding of the market’s performance over the first four months of the year. Here’s a summary:
- Single-Family Homes: Sales down 1%, average price up 18%.
- Condos and Townhomes: Sales up 2%, with an average price increase of 1%.
- Multifamily Properties: Sales up 26%, average price up 22%.
- Residential Lots & Acreage: Sales down 8%, average price up 29%.
- Residential Rentals: Sales up 9%, average price up 13%.
- Commercial: Sales up 14%, average price up 34%.
- Commercial Land: Sales up 32%, average price up 202%.
- Rural Farms & Ranches: Sales down 11%, average price up 205%.
What does this mean?
The year-to-date numbers show that the San Antonio real estate market has generally been strong in 2022. However, the single-family home and residential lots & acreage categories have seen a slight decrease in sales. Commercial land and farms/ranches have shown substantial price growth.
Sales by Area: Where are 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 part of town. (Note: The full report has detailed numbers for each area).
Here are a few highlights from the sales by area data:
- Areas with High Average Sales Prices: Areas 5, 6, 10, 13, 18, and 25 tend to have the highest average sales prices.
- Areas with the Most Sales: Areas 1, 17, and 26 tend to have a high number of sales.
(Consult specific numbers in the attached report.)
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: Although there may be a slight cooling trend, the market remains competitive. Get pre-approved for a loan, work with a knowledgeable real estate agent, and be ready to act quickly.
- For Sellers: It’s still a favorable time to sell, with prices higher than last year. Work with a real estate agent to price your home strategically to attract buyers.
Conclusion: Stay Informed for Real Estate Success
The San Antonio real estate market is dynamic and ever-changing. By staying informed about the latest trends and consulting with qualified professionals, you can make smart decisions whether you’re buying, selling, or renting.
Disclaimer: This is a summary of the April 2022 San Antonio Board of Realtors MLS report. Market conditions can change. Consult with a qualified real estate professional for personalized advice.