San Antonio home sales activity was strong in June as buyers competed for a limited supply of homes on the market. The area saw double digit increases in average and median sales prices

The month of June ended with 4,024 single family homes sold in the San Antonio area, a twenty 5% increase in the number of homes sold over June 2020, as reported by the San Antonio Board of REALTORS Multiple Listing Service Report.

The average price of a home sold in the San Antonio area increased to $345,114 a 19% increase over June 2020. The median price homes sold for increased to $292,600, a 17% increase over the June 2020 median price.

Average sold price per square foot was $159 per square foot, which is 20% higher than in June 2020.

Condominium and townhome sales were robust in June, with 114 units sold, 61% higher than the 71 units sold in June 2020. The average price of condos and townhomes increased by 25% increase over June 2020 to $222,853.

The month of June ended with 5,096 listings on the market including 4,476 new listings. The month ended with 3,400 sales pending.

In June single family homes stayed on the market for an average of only 26 days compared to an average of 60 days in June 2020, so homes sold 57% faster than one year ago. Homes that are ready to move in to, attractively presented and priced right are moving quickly in this market.

We are in a strong seller's market in San Antonio right now with only 1.5 months of inventory available in June which is a slight increase from the 1.3 months that was available in May.  

While demand for homes is exceptionally strong its important that Sellers listing their homes for sale should not overprice their homes at unrealistic prices. We know a lot of sellers right now trying to catch the market. Many home buyers are experiencing Buyer fatigue and may elect to pause their home search. It is anticipated that price appreciation will moderate as rates and inventory rise later this year.

With this severe shortage of inventory, strong home prices and possibly the best Sellers' Market we have seen for over a decade, this could be the best time for home owners to list their homes for sale.

Part of the reason for continued strong home buyer demand is that we have seen record low interest rates this year with rates below three percent 3% for a 30-year mortgage loan. Freddie Mac, The Federal Home Loan Mortgage Corporation, projects that interest rates on a 30-year mortgage will remain at or close to three percent, throughout 2021.

While demand for single family homes is strong, rural residential lots and acreage have continued to see increased interest and sales since the start of the COVID-19 pandemic. June 2021 saw a 29% increase in the number of lots and acreage properties sold compared to June 2020, with 458 lots sold. The average price of lots increased by 62% compared to one year ago to $147,907. Lots and acreage spent an average of 106 days on the market in June 2020, which is 47% less than the average of 200 days in June 2020.

Rural Farms and Ranches continued to see increased sales activity with 60 farms and ranches sold in June which is 46% more sales compared to the 41 that sold in June twenty twenty 2020. The average price of rural farm and ranch properties that sold was $873,222 which was 25% higher than the average price of farm and ranch properties that sold in June 2020.

If you are looking to sell a home or buy a home in the San Antonio area, or have questions about the current real estate market please contact Trudy Edwards, REALTOR with Trues SA Real Estate Team – KELLER WILLIAMS Heritage.

*Increases represent year-over-year comparison as reported by the San Antonio Board of REALTORs.

 This free site is ad-supported. Learn more
​