SAN ANTONIO — The San Antonio real estate market is stabilizing, according to June numbers released by the San Antonio Board of Realtors.
The organization says the market stabilizing has created more of a balance between buyers and sellers, allowing for more fair negotiations, rather than the sellers' market we've seen in recent years.
SABOR released its monthly report for June of 2023 this week, which showed there were a total of 3,354 home sales in San Antonio. That is a 9% decrease compared to a year ago.
According to the data, the average home price for a single family unit is $395,524, which is actually down from June 2022's average of $397,144, but still much higher than June 2021's average price of $341,180.
The median home price in Bexar County settled at $305,000, which is a 4.7% decrease. That is also compared to Travis, Harris and Dallas counties whose median home prices are $580,000, $335,000 and $390,000, respectively.
There are other indications in the report of better affordability for homebuyers than in recent years. The price per square foot also decreased by 4 percent in the last year and the total inventory also dropped.
While there is good news for people looking to buy a home, the bad news continues for people looking to rent. Median rent for all residential rental increased by 3 percent from June of last year, according to the report. There was also an overall increase in rental listings.