08/20/2024
Today in the San Antonio MLS there are 14,432 single family homes available for purchase.
10,704 of those properties have been on the market 30 days or longer.
7,618 have been on the market longer than 60 days.
The average days on market for a single family home as of July was 49. A year ago in July of 2023 the average days on market was 39, and in 2022 in July the average was 21 (near the historic low).
So let's look at interest rates to see if there's a correlation there.
In July of 2024 conventional interest rates were around 6.89%. July of 2023 saw 6.78%, and July of 2022 saw 5.3%.
The lowest days on market we have seen in the last 5 years was in June of 2022 at 20 days. At that time the interest rate was 5.78%.
The most expensive single family home currently listed is 9.5 million and it's on over 300 acres in Boerne. The land and the views are GORGEOUS, and the house is pretty nice (hey, you're paying for the solitude!).
The least expensive home is $20,000, and it's a manufactured home in Kerrville. Although it isn't the correct method of sale, I believe this is just for the manufactured home without any land (though the listing is so vague I can't tell!).
I suppose you could buy that house for 20k and have it moved to the next least expensive single family home listing site in Pipe Creek, where you get .242 acres with a broken down mobile home (probably unlivable) for $28,500. Or you can get .075 of an acre in Pearsall for $7,000. That's 3,267 sq ft of land (that's 17.6% of a football field, or about 2 yards of length for the width of the field π€£).
Hey, I'm all about solutions! LOL
Hope you've enjoyed! And if there's any sort of comparison or any random thing you've wondered about this area of ours when it comes to housing, land, or anything real estate, please ask! I'd love to find the answer and share π