New report shows San Antonio home prices drop while overall sales … – CultureMap San Antonio

REAL ESTATE REPORT
For the fourth straight month, San Antonio new home sales have slowed despite a statewide average price drop, according to the latest HomesUSA.com report. The report uses Multiple Listing Services (MLS) data to determine the status of the San Antonio and statewide real estate markets.
The city’s three-month moving average for the amount of time new homes spent on the market in January was 73 days, which is a four-day increase from December 2022. In January of last year, homes spent an average of 23 days less on the market when compared to last month. The total number of completed new home sales also decreased in January while active listings stayed flat. These findings are consistent with MLS’ data showing a potential statewide sales decline.

In good news, buyers are seeing an improvement when it comes to new home prices. The average home price decreased from $396,487 in December 2022 to $393,316 last month. Additionally, the three-month moving average of the sales-to-list price ratio in San Antonio has dropped for the sixth straight month.
Despite the drop in completed home sales, overall sales are showing stability thanks in part to the price drops. The results are demonstrated in the pending new home sales data for January, which had its highest increase in nine months. There were 674 pending sales last month, up from 596 in December.

HomesUSA.com CEO Ben Caballero says San Antonio’s new home sales indicate the market’s “remarkable stamina.”

“Statewide average new home sales are still strong, despite all the challenges builders face,” Caballero shared in a statement. “But keep in mind as inventory rises, builders are listing more homes, which increases sales reported to MLSs.”
More information about the report can be found at HomesUSA.com.
Hottest 'hoods
San Antonio is emerging as a big magnet for homebuyers, and boasts one of the hottest ZIP codes in the country.
According to OpenDoor’s 2022 Hottest ZIP Codes in America report, San Antonio's78253 was the 11th most popular ZIP code for buyers around the U.S. last year. It also ranked No. 11 in the 2021 report.
OpenDoor analyzed data from the local Multiple Listing Services (MLS) where Opendoor Brokerage operates, they say. The neighborhoods were ranked by total homes that went into contract within 90 days of listing in 2022.
San Antonio tracks with a post-pandemic trend that OpenDoor identified when compiling its 2022 list: that buyers were gravitating toward “a small-town feel while close to a bustling downtown for entertainment, dining, and shopping,” they say.

“Whether to be closer to outdoor and recreational activities or to join a close-knit community, the desire to belong remained strong in 2022 as the recalibration of work and personal priorities encouraged people to move away from city centers,” the report’s author says.
For the same reasons, another Central Texas city – New Braunfels – was deemed a top ZIP for 2022. Its 78130 lands at No. 4 on the list for the second year in a row.

“We are seeing homeowners vie for that sense of belonging in cities and towns accessible to major metros via short commutes,” OpenDoor says.
Elsewhere in Texas
New Braunfels and San Antonio just two out of three Central Texas ZIPs to make it into the top 20, but they are in good company with several others around Texas.
The third Hill Country city to make the list is the northeast Austin suburb of Leander, whose 78641 ranked No. 9.
The two Dallas-area ZIPs that made it into OpenDoor's report are Forney's 75126 and Aubrey's 76227, ranking No. 5 and No. 13.

Katy’s 77494, in the Houston area, is the highest-scoring ZIP in the state, landing at No. 3.
Half of first-time home buyers say ‘family’ is the top reason they decided to purchase a home in 2022. Katy, TX and Yukon, OK continued their reign on our hottest ZIPs list,” OpenDoor says. “They draw homeowners for their proximity to major employers while still being a good fit for families.”
Another Houston suburb, Cypress’ 77433, comes in at No. 7.
The hottest ZIP code in the country is 37042 in Clarksville, Tennessee, which has “a thriving, close-knit local community while still being close to the action in Nashville,” OpenDoor says.

The top 20 ZIP codes in the U.S. for 2022 are:

source

Related Articles

wpChatIcon