When thinking about buying or selling such a serious asset as a house, do not rush to advertise it. Even minor fluctuations in real estate prices will allow you to save a decent amount of money, which can be used for home renovation if you buy it, or for moving if you sell it. To learn about regular seasonal price fluctuations in the real estate market, as well as long-term and just emerging trends, ask the experienced San Antonio realtors at the leading company Realty San Antonio. By monitoring the market in real-time, they will not only tell you about expected prices at the end of 2023 but also give a forecast for 2024 and 2025.

Short and Long-Term Trends in the San Antonio Housing Market

Building a forecast largely depends on what time frame the analysts rely on in their conclusions:

• If they compare the indicators of only several months, then what may seem to be a new trend is just a balancing or leveling of the previous one.
• If they rely on long-term observations, then there is a possibility of missing small but important for present time specifics.

Therefore, to build a forecast, it is important to study recent changes in the housing market, but at the same time, they need to be included in the general framework of long-term trends.

Comparative Table of Key Indicators for the San Antonio Housing Market in July, August, and September 2023 

Analyzing San Antonio Housing Market Trends

The conclusions that can be drawn from this table will be highlighted differently if you increase the comparison time frame to 1 year.

Increase in the Number of Houses for Sale

Over the past three months, the number of offers on the housing market has been steadily growing (from 4% to 8%), but compared to the previous year, this growth is from 24% to 26%. This significantly expands the options for purchasing housing. And if you are planning to buy a home in San Antonio, now is a very convenient time due to the variety of offers in different price categories and areas of the city. So find upcoming Open Houses in San Antonio to see all possible options. Right now, you have every chance to buy the home you have dreamed of.

However, this is not a very pleasant situation for those who are planning to sell a house. Greater competition in the market increases the length of days you will have to wait for your customers.

Buyers Waiting Time

To sell a home in San Antonio today, you will have to wait an average of more than 2 months for your buyers. While a year ago, you could sell it in 2-5 weeks. This should be taken into account by those who are planning to move because of taking a job in another region. Don’t delay selling your home if you have made the final decision to move. The waiting period for buyers may be significantly longer than what you expected.

Number of Deals Concluded

While both previous indicators demonstrate significant changes over the past year, the number of completed home purchase/sale transactions does not fluctuate as much. This means that demand is more stable than supply. Thus, in August 2023, the number of houses sold was only 4% lower than in 2022. In September, this figure was higher ‒ 15%, but in comparison with a more significant increase in supply in the housing market, it still shows greater relative stability.

Cost of Housing Sold

If you are interested in the median price of a house, then compared to the same period in 2022, it fell by about $3,000. But at the same time, it increased significantly from 2021, when it was $295,000. The price increase ranged from $23,000 to $28,000. And with about 3,000 homes dropping in price every month to find a buyer, if you’re thinking about selling your home, you might as well act quickly because the decline in property values may continue for some time as a short trend.

Forecast for 2024/2025

When forecasting the housing market in San Antonio for the next 2 years, you need to consider the following indicators:

• Population Growth
• Job Market
• Interest Rates
• Continuation of Military Presence
• Favorable Tax Laws
• Cost of Living, etc.

San Antonio performs excellently on almost all of these indicators, proving that the city will continue to attract more and more new people. This will maintain balance in the housing market and influence a sustainable increase in prices in the long term.

• San Antonio is experiencing steady population growth every year. Over the past 5 years, this figure ranged from a 1.7% increase in 2023 to a 2.25% increase in 2020. If we take a longer period, then over the decade from 2010 to 2020, the city’s population increased by 16.5%.
• The same applies to the labor market. Unemployment rates in the region are low because many of America’s leading companies choose this city to locate their headquarters. San Antonio has a reputation as the country’s leading tech hub. In addition, the city’s economy is very diverse, which creates great conditions for the employment of different professions.
• As for reducing the interest rate, the government does not promise significant changes for 2024. However, there is hope that by the end of 2025, it will fall to approximately 4%. This means that by 2025, we should expect a significant recovery in the housing market in San Antonio.

Any experienced wealth management consultant will give you advice that now is the time Now is a great time to invest in housing in San Antonio. The city has excellent indicators and bright prospects. And by 2025, the general revival of the market will create additional incentives for operations in the real estate market. Therefore, if you want to sell, buy, or lease a home, contact Realty San Antonio for more detailed advice and professional assistance.