Real Estate Inventory and Prices in San Antonio

The San Antonio real estate market has experienced significant fluctuations, influenced by broader national economic trends and local developments. As of June 2024, the market has shown a notable increase in inventory levels. The total number of homes for sale has risen by 15.9% year-over-year, bringing the current inventory to approximately 9,654 homes [1] [2] [3].

This increase in inventory can be attributed to several factors, including an uptick in new housing developments, a gradual recovery from the pandemic-induced slowdown, and shifts in buyer behavior. The expanded inventory provides a wider array of choices for potential buyers, from luxury estates in neighborhoods like Alamo Heights to more affordable options in emerging districts such as Southtown.

In terms of pricing, the median home price in San Antonio stands at approximately $260,871, reflecting a modest decline of 1.8% over the past year [3]. This decline indicates a market correction following a period of rapid price increases driven by high demand and limited supply. While the median price has decreased, the market remains competitive, with homes typically receiving multiple offers and selling close to their listing prices.

Average listing prices and sold prices offer deeper insights into market dynamics. For instance, the average listing price in San Antonio has been around $280,000, while the average sold price tends to be slightly lower, around $270,000. This small gap between listing and sold prices suggests a balanced market where sellers price homes realistically, and buyers are willing to meet these prices [4] [5] [6].

Moreover, the average days on market (DOM) for homes in San Antonio is approximately 56 days. This metric provides an indication of the market's liquidity and can vary significantly across different neighborhoods and property types. For example, properties in high-demand areas like the Pearl District or King William often sell faster than those in less central locations [7] [8] [9].

In conclusion, the San Antonio real estate market in mid-2024 is characterized by increased inventory, stable pricing trends, and a healthy balance between supply and demand. These conditions create a favorable environment for both buyers and sellers, offering a range of opportunities across the housing spectrum. Prospective buyers can leverage tools like the Homebot Home Search to stay updated on active and coming soon listings, ensuring they are well-informed and competitive in their property searches.