The December 2021 data for the San Antonio housing market is out, courtesy of the San Antonio Board of REALTORS® (SABOR), and it proves that San Antonio is still rising in popularity. It makes sense, especially when you consider all the benefits of moving to the Alamo City. With warm weather, a great cost of living, and an abundance of outdoor activities, people are taking notice of the area.
According to Bankrate, millennials (especially older millennials) have been the largest home-buying group for some time. So where are they buying? Knock anticipates San Antonio as being one of the hottest markets for millennials in 2022, ranking in at #4 out of 10.
Data from the San Antonio Board of REALTORS® (SABOR) shows that in December 2021, the median single-family home price appreciated by 19%, with the median sales price at $311,000. The available inventory decreased to 1.4, showing that the people are buying faster than they are selling.
But potential buyers shouldn’t be discouraged. In fact, December 2021 reported 4,867 active listings and 2,784 new listings, so there are options available.
“We saw a strong end to the year in the San Antonio area with an increase in pending sales and new listings compared to 2020,” said SABOR’s 2022 Chairman of the Board Tracie Hasslocher. “With a decent increase in median and average home prices we only saw a decrease of 48 closed sales with 99.8% closing at list price.”
For buyers, acting earlier in the year may save you money. Experts predict that interest rates can only go up after the historic lows we saw in 2021, according to Time. The Federal Reserve helped keep rates low to help stimulate the economy by purchasing billions of home loan bonds, but they are looking to shed those in 2022 as the economy stabilizes.
If you’re ready to start looking to purchase a home, browse our San Antonio listings. Our agents are available to help you make sense of the market.
And even if you aren’t in the heart of San Antonio, you may still benefit from the rise in home prices if you’re looking to sell. According to the San Antonio Business Journal, New Braunfels has been named as the 4th hottest zip code in the country. This conclusion was made by ranking neighborhoods by the number of homes that went into contract within 90 days of listing in 2021.
Sellers can enjoy spending less time waiting for your home to close, and as demand increases, you’ll likely be able to get the price you’re looking to sell at — and fast. Compared to December 2020, homes spent 15 fewer days on the market in December 2021. You may also get multiple offers on your home. If you’re considering selling your home, visiting our website should be your next step.