San Antonio Real Estate: What’s New in February 2022?

Are you thinking about buying, selling, or renting a home in San Antonio? It’s essential to stay informed about the current state of the real estate market. This blog post provides a brief overview of what happened in February 2022. We’ll discuss topics 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 Covers

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)
  • Price per Square Foot: How much homes cost on average for each square foot
  • Days on Market (DOM): How long properties took to sell
  • New Listings: How many new properties came on the market
  • Active Listings: How many properties were available for sale
  • Pending Sales: How many properties had offers accepted but hadn’t closed yet

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 for February 2022

In February 2022, the San Antonio real estate market remained strong. Here’s a quick look at what was happening:

  • Sales of single-family homes increased compared to last year.
  • Prices: Prices continued to rise for most types of properties.
  • Days on Market: Properties were selling faster than last year.

Now, let’s dive into the details of each kind of property.

Single-Family Homes: The Core of the Market

Single-family homes are the most common type of property, so let’s start with them:

  • Sales: 2,681 homes were sold in February 2022, representing a 9% increase from the 2,450 sold in February 2021.
  • Average Price: The average price was $ 361,889, up $ 16,889, or 16% from last year.
  • Price Per Square Foot: The price per square foot was $ 176, up 20% from last year.
  • Days on Market: Homes were selling in an average of 38 days, faster than the 52 days in February 2021 (a -27% change).
  • Median Price: The median price (the middle price) was $ 314,000, up $20,314,000, or 20%, from $ 314,000, up $20,262,400 last year.
  • New Listings: 3,437 new homes were listed for sale.
  • Active Listings: 4,054 homes were available for sale.
  • Pending Sales: 3,209 homes were under contract (an offer was accepted).

What does this mean?

Sales increased, prices rose significantly, and properties sold more quickly than in the prior year.

Condos and Townhomes: A Convenient 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 February 2022:

  • Sales: 74 condos and townhomes were sold, representing a 6% increase from 70 in February 2021.
  • Average Price: The average price was 236,090,down21236,090 down 21% from236,090,down21297,157 last year.
  • Price Per Square Foot: The price per square foot was $ 191, down 17% from the previous year.
  • Days on Market: Condominiums and townhomes were selling in an average of 52 days, faster than the 66 days last year (a 21% decrease).
  • Median Price: The median price was $ 186,700, up $15,862 from last year, representing a 15% increase from $ 186,700.
  • New Listings: 75 new condos and townhomes were listed.
  • Active Listings: 182 active listings.
  • Pending Sales: There were 59 sales pending.

What does this mean?

Sales increased, the median price rose, while the average price decreased, and properties sold more quickly than in the prior year.

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: 33 multifamily properties were sold, representing a 6% increase from 31 in February 2021.
  • Average Price: The average price was $ 409,392, up $8,409,392 (8%) from $ 409,392, up $8,378,369 last year.
  • Price Per Square Foot: The price per square foot was $ 150, up 19% from $ 150 last year.
  • Days on Market: These properties were selling in an average of 51 days, faster than the 58 days last year (a -12% change).
  • Median Price: The median price was $ 364,300, up $ 27,464 from $ 364,300 last year, representing a 7.5% increase.
  • New Listings: 54 new multifamily properties were added to the market.
  • Active Listings: 107 active listings.
  • Pending Sales: There were 40 sales pending.

What does this mean?

Sales, prices, and median prices have increased, and properties took less time to sell than in the prior year.

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: 396 lots and acreage properties were sold, up 13% from 349 in February 2021.
  • Average Price: The average price was $ 180,659, up $ 37,180, or 20.7%, from $ 180,659 last year.
  • Days on Market: These properties were selling in an average of 95 days, much faster than the 161 days last year (a -41% change).
  • Median Price: The median price was $ 108,300, up $23,308 from last year, representing a 23% increase from $85,000 to $108,300.
  • New Listings: 517 new lots and acreage properties were added to the market.
  • Active Listings: 1,933 active listings.
  • Pending Sales: There were 364 sales pending.

What does this mean?

Everything has increased, while the time to sell has dropped significantly.

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 February 2022:

  • Sales: 1,068 residential rental properties were rented, up 18% from 907 in February 2021.
  • Average Price: The average rent was $ 1,755, up $ 111 from $ 1,755 last year.
  • Price per 100 Square Feet: The cost per 100 square feet was $ 100, up 10% from $1091 last year.
  • Days on Market: Rental properties were rented in an average of 38 days, faster than the 43 days last year (a 12% decrease).
  • New Listings: 1,190 new rental properties were added to the market.
  • Active Listings: 1,270 active listings.
  • Pending Sales: 1,024 rentals were pending.

What does this mean?

Sales, average rent, and price per square foot have increased, and properties were rented faster than last year.

Commercial, Land, and Farms & Ranches

Here’s a quick look at some other types of real estate:

  • Commercial: Sales were up 81%, and the average price was up 42%.
  • Commercial Land: Sales increased by 50%, and the average price rose by 282%.
  • Rural Farms & Ranches: Sales were up 11%, and the average price was up 370%.

Year-to-Date Numbers: A Look at the Whole Year So Far

Let’s examine the year-to-date (YTD) numbers to assess the market’s overall performance so far in 2022. Since we’re only two months into the year, these numbers reflect the combined data from January and February.

  • Single-Family Homes: Sales up 3%, average price up 17%.
  • Condos and Townhomes: Sales up 9%, average price down 13%.
  • Multifamily Properties: Sales up 17%, average price up 19%.
  • Residential Lots & Acreage: Sales up 2%, average price up 37%.
  • Residential Rentals: Sales up 9%, average price up 12%.
  • Commercial: Sales up 28%, average price up 19%.
  • Commercial Land: Sales up 28%, average price up 152%.
  • Rural Farms & Ranches: Sales down 9%, average price up 169%.

What does this mean?

Overall, the San Antonio real estate market is showing continued growth in sales and prices across most property types. The commercial land and rural farms & ranches categories are seeing particularly significant price increases.

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 generally have the highest average sales prices.
  • Areas with the Most Sales: Areas 1, 17, and 26 tend to have a high number of sales.
  • Areas Showing Significant Price Growth: Many areas have seen significant price growth.

(Refer to the provided chart for data).

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.
  • For Sellers: It’s Still a Good 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 to Make Smart Choices

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 February 2022 San Antonio Board of Realtors MLS report. Market conditions can change. Consult with a qualified real estate professional for personalized advice.