Are you considering buying a home, selling your current house, or renting a place in San Antonio? It’s essential to stay informed about the current state of the real estate market. This blog post will break down the latest numbers from January 2022 in a simple way. We’ll examine factors such as the number of homes sold, their average cost, and the average time it took to sell so that you can make informed decisions.
What This Report Includes
This information comes from the San Antonio Board of Realtors (SABOR) MLS report. We’ll be looking at:
- Sales: How many properties were sold
- Prices: How much properties cost (average and median)
- Days on Market (DOM): How long it took for properties to sell
We’ll cover different types of properties, including:
- 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: Overall Market in January 2022
In January 2022, the San Antonio real estate market remained strong. Here’s a quick overview:
- Sales: Single-family home sales were about the same as last year.
- Prices: Prices continued to rise for most types of properties.
- Days on Market: Properties were selling faster than last year.
Let’s take a closer look at each type of property.
Single-Family Homes: The Heart of the Market
Single-family homes are the most common type of property, so let’s start there:
- Sales: A total of 2,521 homes were sold in January 2022. That’s a little less than the 2,556 sold in January 2021 (a -1% change).
- Average Price: The average price was $ 351,226, up $ 17,351,226, or 17% from $ 351,226, up $ 17,299,069 last year.
- Price Per Square Foot: The price per square foot was $ 171, up 21% from $ 171 last year.
- Days on Market: Homes were selling in an average of 35 days, much faster than the 47 days in January 2021 (a -26% change).
- Median Price: The median price (the middle price) was $ 304,700, up $ 18,304,700, or 18% from $304,700 to $182,57,500 last year.
- New Listings: 3,169 new homes were listed for sale.
- Active Listings: There were 4,152 homes available for sale.
- Pending Sales: 3,159 homes were under contract (an offer was accepted).
What does this mean?
Although sales remained relatively unchanged, prices increased, and homes were selling significantly faster. This means it was still a good time to be a seller in January 2022. Buyers likely faced a competitive market with rising prices.
Condos and Townhomes: A Convenient Choice
Condos and townhomes can be a great option if you want less yard work or want to live closer to the city. Here’s what happened in January 2022:
- Sales: 60 condos and townhomes were sold, representing an 18% increase from 51 in January 2021.
- Average Price: The average price was $ 219,482, up $ 4,019,482, or 4% from $ 219,482 last year.
- Price Per Square Foot: The price per square foot was $ 175, down $2,218, or 2% from last year’s $ 175, down $2,218.
- Days on Market: Condominiums and townhomes were selling in an average of 71 days, faster than the 93 days last year (a 24% decrease).
- Median Price: The median price was $180,000, up $27,100, or 15%, from $153,000 the previous year.
- New Listings: 87 new condos and townhomes were added to the market.
- Active Listings: There were 170 active listings.
- Pending Sales: There were 81 pending sales.
What does this mean?
The condo and townhome market experienced an increase in sales, which is a positive development. Prices were also up slightly, and properties were selling faster.
Multifamily Properties: Investment Opportunities
Multifamily properties (like duplexes) are often bought by investors who rent them out. Here’s how this market looked:
- Sales: 35 multifamily properties were sold, representing a 30% increase from 27 in January 2021.
- Average Price: The average price was $ 394,318, up $ 36,294, or 9%, from $ 394,289 last year.
- Price Per Square Foot: The price per square foot was $ 151, up 30% from $ 151 last year.
- Days on Market: These properties were selling in an average of 43 days, faster than the 32 days last year (a 34% increase).
- Median Price: The median price was $ 358,300, up $26,300, or 7.3%, from $358,300 last year.
- New Listings: 45 new multifamily properties were added to the market.
- Active Listings: There were 96 active listings.
- Pending Sales: There were 40 sales pending.
What does this mean?
The multifamily market was strong, with more sales and higher prices. This suggests that investors remained interested in purchasing these types of properties.
Residential Lots and Acreage: Building Your Dream
If you want to build your own home or have some land, here’s what’s happening with residential lots and acreage:
- Sales: 325 lots and acreage properties were sold, down 7% from 350 in January 2021.
- Average Price: The average price was $ 153,212, up 37% from $ 153,212 last year.
- Days on Market: These properties were selling in an average of 83 days, much faster than the 162 days last year (a -49% change).
- Median Price: The median price was $ 110,600, up $4,116, or 4%, from $110,600 last year.
- New Listings: 540 new lots and acreage properties were listed.
- Active Listings: There were 1,947 active listings.
- Pending Sales: There were 384 pending sales.
What does this mean?
Although sales were down slightly, prices increased substantially, and the time it took to sell decreased significantly. This means demand for land was still strong.
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 January 2022:
- Sales: 1,022 residential rental properties were rented, representing a 6% increase from 961 in January 2021.
- Average Price: The average rent was $ 1,731, up $ 131 from last year, representing a 13% increase.
- Price per 100 Square Feet: The cost per 100 square feet was $ 101, up 17% from $ 101 last year.
- Days on Market: Rental properties were being rented in an average of 38 days, faster than the 42 days last year (a -10% change).
- New Listings: 1,256 new rental properties were added to the market.
- Active Listings: There were 1,187 active listings.
- Pending Sales: 1,050 rentals were pending.
What does this mean?
More rental properties were rented, and the average rent increased. This indicates a strong demand for rental properties in San Antonio.
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 was up 26%.
- Commercial Land: Sales increased by 25%, and the average price rose substantially (136%).
- Rural Farms & Ranches: Sales were down 17%, and the average price was down 7%.
Year-to-Date Numbers: What This Means Over Time
Since this report covers January, the year-to-date (YTD) numbers are identical to the monthly numbers. They show the market’s performance at the beginning of the year.
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).
In almost every area, the average sales price increased compared to January 2021. Some areas experienced more significant growth than others. See the chart for all the data.
- Areas with Notable Price Increases: Consider areas such as 5, 9, 10, 18, and 25 to see some of the most significant jumps in average sales price.
- Areas with More Sales: Areas 1, 16, 17, and 20 experienced an increase in sales compared to January of last year.
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 well. Be prepared to pay more than the asking price in some cases.
- For Sellers: It’s a great time to sell! Prices are up, and homes are selling quickly. 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 consult with a qualified real estate professional for personalized advice.
Disclaimer: This is a summary of the January 2022 San Antonio Board of Realtors MLS report. Market conditions can change. Consult with a qualified real estate professional for personalized advice.