San Antonio Area Real Estate Home Sales Saw Double Digit Gains in April 2021

San Antonio home sales saw strong home buyer demand in April with 3,483 single family homes sold, a twenty 27% increase in the number of homes sold over April 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 $333,671, a 22% increase over April 2020. The median price homes sold for increased to $277,000, a 15% increase over the April 2020 median price.

Average sold price per square foot was $154, which is 19% higher than in April 2020.

Condominium and townhome sales almost doubled in April, with 91 units sold, 78% higher than the 51 units sold in April 2020. The average price of condos and townhomes saw a 27% increase over April 2020 to $202,518.

The month of April ended with 4,333 listings on the market including 4,092 new listings. The month ended with 3,374 sales pending.

In April single family homes stayed on the market for an average of only 36 days compared to an average of 61 days in April 2020, so homes sold 41% 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 1.2 months of inventory available in April, down slightly from the 1.3 months that was available in March.

With this severe shortage of inventory, strong home prices and possibly the best Sellers’ Market we have seen for over a decade, why are many potential home sellers, still hesitant to put their homes on the market?  

Some people may be holding off listing their home for sale due to concern that we may in a housing bubble. Laurence Yun, Chief Economist at National Association of REALTORS firmly asserts that “

This is not a bubble, it’s a lack of supply.”

Laurence Yun, Chief Economist at National Association of REALTORS

Others may be wondering where they will move to next and wondering how to buy their next home while selling their current home. If you have been thinking of selling your San Antonio home but are wondering how to sell and buy your next home in this market, I have several solutions that you may be interested in, including a new program in the San Antonio area which allows you to move up to your next home, before selling your current home!

Explore Your Options for Selling a Home and Buying a Home

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. April 2021 saw a 151% increase in the number of lots and acreage properties sold compared to April 2020, with 524 lots sold. The average price of lots increased by 67% compared to one year ago. Lots and acreage spent an average of 143 days on the market in April 2020, which is 33% less than the average of 214 days in April 2020.

Rural Farms and Ranches continued to see increased sales activity with 58 farms and ranches sold in April which is 123% more sales compared to the 26 that sold in April twenty twenty 2020. The average price of rural farm and ranch properties that sold was $1,076,673 which was 138% higher than the average price of farm and ranch properties that sold in April 2020.

Farm and Ranch Property Sales Increased Significantly in April 2021

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.