San Antonio Real Estate: What’s the Story in June 2022?

Are you thinking about buying, selling, or renting a home in San Antonio? It’s essential to stay informed about market trends. This blog post will break down the key trends from June 2022, using the latest information from the San Antonio Board of Realtors (SABOR). We’ll examine factors such as home sales, prices, and the rate at which homes are selling, so you can make informed choices.

What This Report Includes

The information we’re using comes directly from the San Antonio Board of Realtors (SABOR) MLS report. We’ll be focusing on:

  • Sales: How many properties were sold?
  • 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 these 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 June 2022

In June 2022, the San Antonio real estate market saw some changes:

  • Single-Family Home Sales: Down compared to last year.
  • Prices are still higher than last year, but perhaps not increasing as rapidly.
  • Days on Market: A little bit slower for some property types.

Let’s get into the specifics of each kind of property.

Single-Family Homes: The Main Focus

Single-family homes are the most common type of property, so we’ll start here:

  • Sales: A total of 3,674 single-family homes were sold in June 2022. That represents a 9% decrease from the 4,038 sold in June 2021.
  • Average Price: The average price of a single-family home was $ 400,875, up 18% from last year.
  • Price Per Square Foot: The average price per square foot was $ 179, up 14% from $ 14158 last year.
  • Days on Market: Homes were selling in an average of 29 days, slightly longer than the 26 days in June 2021 (a 12% increase).
  • Median Price: The median price (the middle price) was $ 348,200, up $20,348,200, or 20%, from $ 20289,700 last year.
  • New Listings: 5,399 new homes were listed for sale during the month.
  • Active Listings: As of the end of June, there were 7,721 homes available for sale.
  • Pending Sales: 3,036 homes were under contract, waiting to close.

What does this mean?

There were fewer homes sold than in the previous year, but prices remained up. Homes also took a little longer to sell. This might mean the market is starting to cool down a bit, but it’s still a good time to be a seller.

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 how they performed in June 2022:

  • Sales: 106 condos and townhomes were sold, representing an 8% decrease from the 115 sold in June 2021.
  • Average Price: The average price was $ 290,808, up $ 29,808, or 10.3%, from $ 260,808 last year.
  • Price Per Square Foot: The average price per square foot was $ 228, up 21% from $ 21188 last year.
  • Days on Market: Condos and townhomes were selling in an average of 27 days, much faster than the 65 days last year (a -58% change).
  • Median Price: The median price was $ 222,500, up $ 31,220 from $ 191,280 last year, representing a 31% increase.
  • New Listings: 113 new condos and townhomes were listed for sale.
  • Active Listings: 198 were available for sale at the end of June.
  • Pending Sales: There were 70 pending sales.

What does this mean?

Although sales were down slightly, prices increased substantially, and properties sold much faster. This shows there’s still strong demand for condos and townhomes.

Multifamily Properties: Investment Opportunities

Multifamily properties (like duplexes and small apartment buildings) are often purchased by investors who rent them out. Here’s how the multifamily market looked in June 2022:

  • Sales: 41 multifamily properties were sold, representing a 13% decrease from the 47 sold in June 2021.
  • Average Price: The average price was $ 409,786, about the same as the $ 404,896 last year (a 1% increase).
  • Price Per Square Foot: The average price per square foot was $ 174, up 15% from last year.
  • Days on Market: These properties were selling in an average of 43 days, slower than the 73 days last year (a -41% change).
  • Median Price: The median price was $ 325,000, up $3,325,000, or 3%, from $325,000 to $ 3314,700 last year.
  • New Listings: 82 new multifamily properties were listed for sale.
  • Active Listings: 159 properties were available for sale at the end of the month.
  • Pending Sales: There were 41 sales pending.

What does this mean?

The multifamily market was more subdued, with fewer sales and only a slight increase in the average price.

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: 361 lots and acreage properties were sold, a decrease of 23% from the 471 sold in June 2021.
  • Average Price: The average price was $ 175,576, up 21% from $ 175,576 last year.
  • Days on Market: These properties were selling in an average of 79 days, much faster than the 116 days last year (a -32% change).
  • Median Price: The median price was $ 126,900, up $ 28,900, or 28% from $ 126,900 last year.
  • New Listings: 738 new lots and acreage properties were listed for sale.
  • Active Listings: 2,527 properties were available for sale at the end of the month.
  • Pending Sales: There were 289 pending sales.

What does this mean?

Although fewer lots and acreage properties were sold, prices remained higher than last year, and properties sold more quickly. This suggests that the land market remains relatively strong, although demand may be slowing slightly.

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 June 2022:

  • Sales (Rentals): 1,514 residential rental properties were leased, representing a 31% increase from 1,156 in June 2021.
  • Average Price (Rent): The average rent was $ 1,850, up $ 101,850, or 10%, from $ 1,850, up $ 101,675 last year.
  • Price per 100 Square Feet: The cost per 100 square feet was $ 105, up 9% from $ 105 last year.
  • Days on Market: Rental properties were rented in an average of 34 days, slightly longer than the 31 days reported last year.
  • New Listings: 1,702 new rental properties were added to the market.
  • Active Listings: 1,370 rental properties were available.
  • Pending Sales: 1,382 rentals were pending.

What does this mean?

The rental market was strong, with more properties being leased and higher rents than last year.

Commercial, Land, and Farms & Ranches

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

  • Commercial: Sales decreased by 10%, while the average price rose by 8%.
  • Commercial Land: Sales were the same as last year, but the average price was up 101%!
  • Rural Farms & Ranches: Sales were down 10%, and the average price was down 15%.

Year-to-Date Numbers: The Big Picture

Examining the year-to-date (YTD) numbers provides a clearer understanding of the market’s performance over the first six months of the year. Here’s a summary:

  • Single-Family Homes: Sales down 3%, average price up 17%.
  • Condos and Townhomes: Sales up 1%, average price up 9%.
  • Multifamily Properties: Sales up 11%, average price up 20%.
  • Residential Lots & Acreage: Sales down 10%, average price up 28%.
  • Residential Rentals: Sales up 14%, average price up 12%.
  • Commercial: Sales up 13%, average price up 29%.
  • Commercial Land: Sales up 13%, average price up 133%.
  • Rural Farms & Ranches: Sales down 8%, average price up 128%.

What does this mean?

The year-to-date numbers show that the San Antonio real estate market has generally been strong in 2022, but some segments are starting to cool down.

Sales by Area: Where are Homes Selling?

The report also breaks down sales by different areas of San Antonio. (See chart provided).

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, but there are likely to be more homes to choose from. 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, but it’s essential to price your home correctly. Work with a real estate agent to determine the optimal price for your property, taking into account current market conditions.

Conclusion: Stay Informed and Get Expert Advice

The San Antonio real estate market is constantly 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 June 2022 San Antonio Board of Realtors MLS report. Market conditions can change. Consult with a qualified real estate professional for personalized advice.