The latest data from SABOR (San Antonio Board of Realtors) provides statistics and insights into the real estate market in Bexar County, Texas for the month of February 2023. The report provides valuable information to those looking to buy or sell property in the area, as well as to professionals in the real estate industry.
The median sales price for homes in Bexar County was $295,000, representing a 15% increase from the previous year. The number of homes sold in February 2023 was 2,508, which is a 6% increase compared to the same month in 2022. Additionally, the number of days that homes stayed on the market decreased from 64 days in February 2022 to 55 days in February 2023, a decrease of 14%.
The report also highlights the changing trends in the real estate market in Bexar County. According to the data, the number of new listings in February 2023 increased by 7% compared to the same month in 2022. However, the number of active listings decreased by 22% in the same time frame. This indicates that the demand for homes is high, and there is a shortage of available inventory. As a result, buyers may face competition, and sellers may benefit from selling their property quickly.
Single-family homes accounted for the majority of sales, with 2,086 homes sold. Townhomes and condominiums accounted for 218 sales, while 190 sales were for multi-family properties.
In February 2023, homes priced between $200,000 and $299,000 accounted for the highest number of sales, with 842 homes sold. Homes priced between $300,000 and $399,000 accounted for 564 sales, while homes priced between $400,000 and $499,000 accounted for 277 sales.
Overall, the data presented in the report indicates that the real estate market in Bexar County, Texas, remains strong, with increasing demand and rising prices. The shortage of inventory suggests that sellers may be able to sell their properties quickly and at a premium, while buyers may face competition and potentially higher prices. Real estate professionals and those looking to buy or sell property in the area should pay close attention to these market trends to make informed decisions.