The Week over Week comparison for Week # 50 over #49 compares Average Sales Price, Number of Homes Sold, and Median Sales Price for homes sold in San Antonio, TX Dec 5 to Dec 11 compared to Nov 27 to Dec 4, 2022. Please first read "Know What Average Means" notice. It makes the information more understandable.
WEEK OVER WEEK COMPARISON
Mean Sales Price
$392,109 compared to last week's Mean Average of $399,109 tells you that lower priced homes sold better compared to last week, but only a small difference. That is all it really tells you unless this ocurred for 60-90 days it isn't a trend. It is just information. We shall see.
Number of Homes Sold
Looking at Number of Homes Sold, 337 compared to last week's 509, about 2/3 as many homes closed (sold) compared to last week, Thanksgiving. That is not surprising. It was the week after Thanksgiving so many closings were pushed back after the holiday.
Median Sales Price
Median Sales Price shows you a nominal change but it does indicate that prices are falling a bit. Last week was $334,490 compared to last week's Median Average of $325,000 for a $9,490 higher Median Sales Price. Again, that is all it really tells you unless this occurred for 60-90 days it isn't a trend. It is just information. But it is good for Sellers that the sold prices re slighty higher.
Overall, about 2/3 as many homes sold last week compared to the week before, for a slightly higher Median Sales Price of $9,490 more, with a considerable lower Mean Average Sales Price of $7,296 lower.
Is this a trend? Well, stay tuned folks and let's see how things look Week over Week for 4 weeks. Really I'd say you'd need a good 60-90 days to know if it's a fluke or if it's a trend. It could just be the shoppers were investors rather than home owners who didn't want to go shopping for homes during the holidays since they were busy shopping for Christmas. It could be that the mortgage ragtes are trending lower so there are more owner occupied closings now. Stay tuned!
AS ALWAYS, I AM JUST A PHONE CALL AWAY WHEN YOU ARE READY TO BUY OR SELL WITH SOMEONE LOOKING OUT FOR YOUR BEST INTEREST!
CATHY CRIADO (210) 560-1891
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