High-quality & newly-renovated San Antonio House (2024)

FAQs

Are home prices dropping in San Antonio? ›

Home values are down 2% in San Antonio since last year, according to Reventure Consulting. The San Antonio-New Braunfels metro is among the 10 housing markets where values and prices are projected to drop the most this year, according to one expert.

San Antonio, TX housing market

The median listing home price in San Antonio, TX was $300K in June 2024, trending down -4.8% year-over-year. The median listing home price per square foot was $173. The median home sold price was $270K.

San Antonio is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

In Q4 of 2022, it declined by 3.5%. Also, a total of 16.1% of homes sold for less than the listing price in San Antonio. These factors show that the last quarter of the year can be good for buyers in San Antonia. Moreover, the popular 30-year fixed mortgage has recently hit a 7.09% interest rate in Texas.

The current metrics detail that homes in San Antonio are currently going to pending status in approximately 31 days, indicating a generally active market. Moreover, the median sale price as of May 31, 2024, stands at $308,777, while the median list price noted at the end of June 2024 is $339,667.

Prices will relax, but not crash.

Prices have relaxed in Texas and gone down slightly in many cities, but you should expect prices to go up some in 2024. Currently, the market has about 3.7 months of home inventory.

The necessary salary to live a financially stable life in San Antonio is a jaw dropping $25,802 more than in SmartAsset's 2023 report, which said San Antonio residents needed to make $59,270 a year to live comfortably in 2023.

San Antonio is characterized by affordable housing options for both regular homebuyers and investors. Compared to other major Texas cities, median home prices are much better, meaning you can acquire a property for a much more favorable cost. The city is among the fastest-growing cities in the country.

Alamo Heights is one of the safest neighborhoods in San Antonio and perfect for outdoor enthusiasts, families, and retirees. To the south, you'll find the San Antonio Zoo, the San Antonio Botanical Garden, and the picturesque riverside Brackenridge Park.

Is it cheaper to live in Austin or San Antonio? ›

The cost of living in Austin is higher than in San Antonio, with more expensive housing prices, utility costs, and transportation.

San Antonio Housing Market Trends

In June 2024, San Antonio home prices were down 2.5% compared to last year, selling for a median price of $270K. On average, homes in San Antonio sell after 46 days on the market compared to 35 days last year. There were 1,083 homes sold in June this year, down from 1,268 last year.

Shavano Park is the safest neighborhood in all of San Antonio, boasting an exceptionally low crime rate across all categories. This community is exclusively residential and is lined with breathtaking homes of varying sizes.

The average electric bill in San Antonio, Texas, is around $160-$162 per month. San Antonio, Texas, has a 9 percent lower bill than the national average, and the average electric rate is around 10-12¢/kilowatt-hour (kWh). Over the year, San Antonio uses around 16,000- 16,500kWh energy and around 1,300kWh per month.

When's the best time to sell a home in San Antonio? If you're after the best sales price, the best month to sell in San Antonio is June when houses sell for 5.80% more than average. If your priority is speed, May is the best time to sell because homes tend to sell 8 days faster than average.

A typical home in El Paso is 24.2 percent overvalued compared to its historical average, followed by Dallas at 22.17 percent, McAllen at 19.15 percent, Houston at 16.02 percent, Austin at 12.46 percent and San Antonio at 11.49 percent.

Home Price Declines

Texas' median home price fell by 1.5 percent MOM in June with an overall decline in the Big Four areas (Table 2). Houston, San Antonio, and Austin each declined by less than one percent. Dallas experienced the largest decline, with a drop of 1.7 percent, surpassing the overall state decline.

San Antonio's public housing wait list stands at 113,000 families — up 43,000 from last year. Austin's public housing wait list is at 13,019 while the Dallas-Fort Worth area has the third worst affordable housing shortage in the country, according to a 2024 national housing report.