San Antonio Real Estate Market Reflects Robust Activity in May 2024
San Antonio – The latest Multiple Listing Service (MLS) report from the San Antonio Board of REALTORS® (SABOR) indicates dynamic trends in the local real estate market for May 2024. Here’s a detailed look at the key metrics and trends:
Key Metrics for May 2024
- Total Homes Sold: 3,472 (3% decrease from May 2023)
- Average Home Price: $371,202 (2% decrease from May 2023)
- Median Home Price: $314,000 (Stable compared to May 2023)
- Average Residential Rental Price: $1,889 (Slight increase)
- Average Days on Market: 77 days (8% increase)
- Months of Inventory: 4.5 months (Balanced)
- New Listings: 4,767 (15% increase)
- Active Listings: 12,727 (34% increase)
Commentary from SABOR
Will Curtis, SABOR’s 2024 Chair of the Board, commented, “The average number of days on the market increased by 8% to 77 days, suggesting a slightly longer selling period for properties compared to the same time a year ago. The months of inventory remained balanced at 4.5. New listings surged by 15% to 4,767, while active listings saw a significant 34% increase to 12,727, indicating ample options for buyers.”
Statewide Metrics
- Total Sales: 29,038 homes (8.6% increase)
- Average Price: $436,730 (4.4% increase)
- Median Price: $345,000 (1.8% increase)
- Median Prices by Major Counties:
- Bexar County: $299,990
- Travis County: $561,425
- Harris County: $335,000
- Dallas County: $385,530
Additional Key Metrics from May 2024 Report
- Price per Square Foot: $181 (1% increase)
- Homes Closed at Original List Price: 94.5%
- Pending Listings: 2,802 (16% decrease)
Price Distribution
- Sales Priced at $199,000 and below: 9.2%
- Sales Priced between $200,000 and $499,000: 74.2%
- Sales Priced at $500,000 and up: 16.5%
Comparison with Previous Years
| Metric | May 2022 | May 2023 | May 2024 |
|---|---|---|---|
| Total Month Sales | 3,592 homes | 3,594 homes | 3,472 homes |
| Average Price | $388,655 | $378,677 | $371,202 |
| Median Price | $335,000 | $315,000 | $314,000 |
Percentage increases/decreases are based on a year-over-year comparison.
Latest Real Estate News in San Antonio
Market Overview
The San Antonio real estate market continues to reflect robust activity. The latest MLS report indicates a dynamic trend in home sales, prices, and inventory. With new listings and active listings showing significant increases, buyers have ample options despite the slightly longer selling period.
Construction and Developments
Construction and development activity in the Greater San Antonio region remain strong, with numerous new projects underway. Notable developments include:
- The Pearl: Mixed-use development with new residential, retail, and office components.
- Alamo Ranch: Continuing to expand with new neighborhoods and amenities.
- La Cantera: Adding new stores, restaurants, and a luxury hotel.
- The Rim: Expanding retail and restaurant options with a new movie theater.
- Downtown: High-rise residential towers, hotels, office buildings, and Hemisfair Park redevelopment.
Luxury Homes and Properties
Stay updated on the latest luxury home listings and market trends in San Antonio. My blog offers news and insights into high-end properties, exclusive neighborhoods and hill country offerings with additional personal perspectives on living in, and around the Alamo City.
Condos and Townhomes
San Antonio’s housing market remains one of the strongest in the country. With a tight inventory of homes for sale, condos and townhomes are in high demand. The average price of a condo or townhome is around $250,000, with options ranging from luxury high-rises to more affordable properties.
Single-Family Homes
The real estate market is currently favoring sellers, with a shortage of homes driving up prices and competition among buyers. If you’re considering selling your home, now may be an opportune time to make a profit.
Carmen Lucas – Your Trusted Real Estate Partner
I prefer to keep my client load to five home buyers/sellers per month, ensuring maximum attention and quality service. Currently, I am actively engaged with two clients past the initial phase of interest and market research. For potential and new clients, I offer comprehensive support through email, phone calls, and texts to prepare for the client’s needs and assessment of potential properties.
If you value personal, high-quality client service in an era where good customer service is a premium, I am never more than a phone call away. If I am with a customer or on a call, I can respond faster via text — as simple as remembering the tagline from the beginning of. my real estate career, “Just call Carmen.”
These are the basic metrics in the industry at the beginning of the summer. For more insights from an experienced realtor in the San Antonio real estate scene, Just call Carmen.
References
- San Antonio Board of REALTORS® (SABOR). “Multiple Listing Service (MLS) Report for May 2024.”
- National Association of Realtors. “Real Estate Market Data for San Antonio.”
- Development Projects. “Ongoing Construction and Development in San Antonio.”
- Carmen Lucas Real Estate Services. “Client Service Approach and Market Expertise.”
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