SAN ANTONIO – San Antonio is one of 50 markets with the highest number of homes for sale in May, according to a new report from Re/Max.
Home inventory supply in San Antonio
In May 2024, the Alamo City had a 4.1 months’ supply of inventory, up 52.1% from the year before and 8% from April 2024, according to the report. Last year, San Antonio had a 2.7 months’ supply of homes for sale.
In total, the months’ supply of inventory nationally is up 39.6% since last May.
Miami had the highest year-over-year change. Its monthly inventory supply is up 83.4% since last May.
“Inventory and new listings grew to levels not seen since the second half of 2022, easing some shortage tension,” a news release said.
Months of supply is determined by the number of houses currently for sale divided by the average number of homes sold per month.
Highest Days on the Market
San Antonio was also one of the cities with the most average days on the market for homes sold, the report said. The number of days was 62 this May, up 14.8% since last year.
Fayetteville, Arkansas, and Coeur d’Alene, Idaho, had the highest days on market for homes sold, with 71 and 66, respectively.
Median Sales Price
Here is some good news for those looking to buy a home in Alamo City. The city was one of the markets with the most significant year-over-year decrease in median sales price from May 2023 to May 2024. It was a three-way tie with Birmingham, Alabama, and Honolulu, Hawaii, at -1.6%.
Month-over-month, though, San Antonio has seen an increase of 1.6% in median sales price.
Copyright 2024 by KSAT – All rights reserved.
