March 2023 San Antonio Texas Real Estate News

Image source: https://realwealth.com/markets/san-antonio-texas/

As we step into the third month of 2023, the real estate market in San Antonio, Texas continues to show signs of growth and stability. Let's take a closer look at some key areas of interest for homeowners, buyers, and investors.

Mortgage rates remained stable in March 2023, hovering around 5-5.5% for a 30-year fixed-rate mortgage with many mortgage lenders estimating stability near or around 6% for the remainder of 2023.

San Antonio's real estate market continues to show steady growth. According to the San Antonio Board of Realtors, the number of properties sold increased by 5.6% in March 2023 compared to the same time last year. The total dollar volume of sales was also up by 9.7%.

The average San Antonio home sales in March 2023 were $300,000. This is a 10% increase from the previous year with median home values continuing to increase year over year.

Image source: https://realwealth.com/markets/san-antonio-texas/

This increase can be attributed to the strong economic growth in the region, more affordable housing costs compared to other metro areas, lower costs of living, and generally, a growing demand for real estate. Some of the hottest markets in San Antonio continue to be in the northern and western suburbs like Spring Branch and Boerne. These areas have seen an influx of residents and businesses, leading to a surge in demand for properties. New developments in the area, including schools, shopping centers, and amenities, are also contributing to the growth of these markets. 

It's important to note that prices vary depending on the location, type of property, and amenities. In conclusion, the San Antonio real estate market remains strong and is showing signs of steady growth. With mortgage rates remaining stable and a growing demand for real estate across San Antonio and its suburbs like Boerne, New Braunfels, Kerville, Comfort, Seguin and more, it's a great time to consider buying or investing in properties in the region.