2021 Starts with Strong Buyer Demand for Homes, Lots and Ranches in San Antonio Area

January is typically a slower month in real estate but San Antonio home sales got off to a strong start with 2,559 homes sold, a 22% increase in the number of homes sold compared to January 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 in January was $304,009, a fifteen percent (15%) increase over January 2020. The median price homes sold increased to $259,200, fourteen percent (14%) higher than one year ago.

Average sold price per square foot was $143, a twelve percent (12%) increase compared to January 2020.

Condominium and townhome sales slowed in January, with only 48 units sold, 28 percent (28%) less than the 67 units sold in January 2020. However, the average price of condos and townhomes increased by five percent (5%) over January 2020 to $187,446.

At the end of January there were 5,039 listings on the market including 3,286 new listings. The month ended with 3,141 sales pending.

The average days that single family homes stayed on the market in January was only 46 days compared to an average of 65 days in January 2020, so homes sold twenty nine percent (29%) 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 January, down slightly from 1.7 months in December. With average interest rates for 30 year mortgages still at record lows there is strong demand from homebuyers so this is a great time for home sellers and buyers.

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. January 2021 saw a twenty five percent (25%) increase in the number of lots and acreage properties sold compared to January 2020, with 323 lots sold. The average price of lots increased by seventeen percent (17%) compared to one year ago. Lots and acreage spent an average of 155 days on the market in January compared to 152 days in January 2020.

Rural Farms and Ranches continued to see increased sales activity with 61 farms and ranches sold in January which is one hundred eighteen percent (118%) more sales compared to the 28 that sold in January 2020. The average price of rural farm and ranch properties that sold was $749,774 which was a sixty six percent (66%) increase over the average price of farm and ranch properties that sold in January 2020.

If you are thinking of buying or selling a home, in the San Antonio metropolitan area and want to learn more about to safely buy or sell home at this time and work with a trusted San Antonio REALTOR® throughout the process, contact Trudy Edwards of KELLER WILLIAMS Realty Heritage, at (210) 595-9801, or by email at TrueSARealEstate@gmail.com.