Real Estate
San Antonio, Texas, currently ranked the 8th largest city in the United States, is visited by 20 million tourists each year. It is famous for its Riverwalk, the Alamo, the Tower of The Americas, and the three-time NBA Champion Spurs basketball team. SBC Communications, Tesoro Petroleum Corp, and Clear Channel Communications are all headquartered in San Antonio, providing many residents with jobs.
As a result of the city’s strong economy, San Antonio real estate offers both home buyers and investors great opportunities.
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| Population 1,144,646 | Median Age 31.7 yrs | Household Size: 2.77 |
| Avg Home Value: $68,800 | July High: 94.6°F | January Low: 39.0°F |
San Antonio Real Estate
The San Antonio real estate market is particularly strong when compared to the rest of the nation. Several factors come into play to make San Antonio such a great real estate market.
First, stable growth in the San Antonio job market has resulted in a strong economy. The addition of Toyota’s Tundra Truck Plant, Washington Mutual’s Regional Center, the National Security Agency’s Satellite Center and the PGA Village has created an abundance of high-paying jobs in comparison to the average local wage. Second, the Texas Supreme Court’s order to restructure public school funding has brought proposals to reduce property taxes, resulting in a positive impact on real estate values. Finally, San Antonio has seen a recent surge of investors into its real estate market as further proof of a strong marketplace.
San Antonio real estate offers a diverse group of homes, townhouses, condominiums and apartments. There are many single-family residences available for sale in the San Antonio Multiple Listing Service at an average price of $344,241. Currently, the most booming part of San Antonio is the northwest area, where you can find new single-family homes, apartments and homes in need of renovation. Generally, entry-level homes for first-time homebuyers are in short supply and are selling at or near list price quickly. Midrange homes are just as active, with a slightly greater supply. Higher-end homes are appreciating rapidly. Alternatively, apartments in San Antonio have high rent-to-value ratios and moderate vacancy rates.
If you are looking to purchase San Antonio real estate, act quickly. Start your search by focusing on the area and neighborhood you prefer. If you are moving to San Antonio from a different location, information on nearby amenities, schools and public services may assist you in your search. Whatever may be the case, be sure to contact a San Antonio real estate professional to help you get started.
By Brandon Gorrell
A REALTOR® is a real estate professional who is a member of the National Association of REALTORS®