San Antonio Housing Market Update November 2024
The San Antonio housing market continues to evolve, and in this month’s update, we explore some of the most pressing questions facing buyers and sellers today. From interest rate trends to inventory levels and home price forecasts, this report offers a clear snapshot of what’s happening in the local real estate market. Watch the full video embedded below for a deeper dive into the data and insights.
Key Topics Covered in This Month’s Market Report
- Will Mortgage Rates Drop Soon?
While many are hoping for a dip in mortgage rates, current borrowing trends suggest rates may remain steady in the near term. Homeowners have significant equity, limiting the financial stress that could lead to forced sales and additional inventory. - Are Home Prices Likely to Decline?
Despite economic uncertainties, national home price forecasts for 2025 remain in positive territory, with projections ranging from 2.5% to 4.4%. Locally, San Antonio’s housing market shows slight price increases and steady demand. - What’s Driving Inventory Changes?
San Antonio’s housing supply has increased slightly, with 4.65 months of inventory—a 5% rise from the previous month. While new listings are up, buyer activity has slowed, creating opportunities for motivated buyers to negotiate. - San Antonio Housing Market by the Numbers
- Median Sales Price: $294,450 (up slightly month-over-month)
- Inventory: 4.65 months (a 15.1% increase year-over-year)
- Days on Market: 43 days (median)
- Price Per Square Foot: $160
Opportunities for Buyers and Sellers
For buyers, now is a great time to explore homes that have been on the market for an extended period. Sellers in this category are often more willing to negotiate, providing excellent opportunities to secure a deal.
For sellers, accurate pricing is key. Homes priced correctly are still selling for an average of 97.4% of the asking price and typically within a reasonable timeframe.
Looking Ahead
The market remains resilient, bolstered by strong homeowner equity and steady demand. While changes are occurring gradually, buyers and sellers who stay informed and act strategically will find opportunities in today’s market.
📺 Watch the Full Update Below for Detailed Analysis and Insights:
If you have questions about buying or selling a home in San Antonio, don’t hesitate to reach out! Contact me, Krishna Perkins, at 210-260-6617