Good to be Home

San Antonio's real estate market continues to heat up as Texas' slightly cools

San Antonio real estate continues to rise.

It's good to be a real estate agent in Alamo City. On April 16, the San Antonio Board of Realtors released its first-quarter numbers along with a warning: potential homebuyers better be prepared to act fast.

The San Antonio real estate market is packing a real left-right punch when it comes to buying a house. While home prices continue to rise, the length of time the properties spend on the market is declining, making it a seller's market.

Compared to the first three months of 2017, the average price for a home in San Antonio is now $254,628 — an increase of 4 percent year-over-year. Meanwhile, the average length of time a property remains on the market before it's sold is 3.3 months. (The statewide average, which includes red-hot markets like Austin-Round Rock, is only slightly lower at 3.2 months.)

“With the tight supply, we counsel home buyers to be ready to make a quick decision,” says Lorena Peña, SABOR’s 2018 chairman of the board, in a release. Peña goes on to note that 97.9 percent of all listings sold for asking price or higher, which means buyers should consider going into the deal with a strong offer.

Overall, the market in Bexar County is even hotter outside the San Antonio city limits. With 2,116 properties sold in March, the county saw an almost 9 percent increase year-over-year compared to 2017, an astonishing leap. Home prices in Bexar County now average $243,822, an increase of 5.6 percent, while the median jumped 9.1 percent to $210,000.

Despite the buzz, SABOR says the news shouldn't deter future buyers. “Prices may be rising in our area, but the dream of owning a home is more attainable than other major metro areas in the U.S. and in Texas,” says Gilbert Gonzalez, SABOR’s interim CEO. “March’s average home price in Texas increased nearly 5 percent to $284,952."

And while, yes, home prices are higher statewide compared to San Antonio, Texas did see a 0.5 percent decline in home sales during the month of March. While Texas did slip among the hottest job markets in the country, cities like San Antonio still rank among the best places to live in the U.S., which means real estate in the Lone Star State probably won't be down for long.

home-for-sale condos reports

small city livin'

3 San Antonio neighbors make new list of best small cities in America

City of New Braunfels - Government / Facebook

New Braunfels is one of the best small cities to live in Texas, the report found.

Living in the big city isn't for everyone, which is why many are flocking to the suburbs and less-populated cities around San Antonio. To demonstrate the popularity of suburban and rural communities, a new study by WalletHub has identified three San Antonio suburbs on their 2024 list of the "Best Small Cities in America."

The extensive report compared over 1,300 U.S. cities with populations between 25,000 and 100,000 residents based on 45 livability metrics across five main categories: Affordability, economic health, education and health, quality of life, and overall safety. Cities were grouped by percentile, where the 99th percentile encompasses the top one percent of small American cities.

A total 19 U.S. cities all qualified in the top 99th percentile of best small cities in America, but the top three that stood out above the rest were Carmel, Indiana; Brookfield, Wisconsin; and Lexington, Massachusetts.

Leading the pack as the best small city in the San Antonio area is New Braunfels, which is just 33 miles northeast of downtown San Antonio. The suburb ranked in the 87th percentile and had the No. 45 best "economic health" rank out of all U.S. cities in the report.

New Braunfels has a population of more than 102,000 residents, which is slightly higher than the study's range. The San Antonio suburb has enjoyed some time in the spotlight this year after being crowned one of the best Texas cities to move to in 2024. Its consistent growth has planted seeds for some new travel accommodations and family-friendly attractions.

Besides the cost-saving benefits of escaping a big city, there's a lot more to enjoy living in a smaller community like New Braunfels, according to WalletHub analyst Chip Lupo.

"On top of that, the best small cities offer strong job markets, high-quality education, good health care, safe living conditions, and plenty of local flair to help you achieve a high quality of life," Lupo said. "While small cities may lack some advantages of big cities, like robust public transportation systems, they make up for these shortcomings in other areas."

The only other San Antonio-area cities to rank in the top 50-75th percentile range were Canyon Lake (73rd) and Cibolo (58th). Canyon Lake is situated 44 miles northeast of downtown San Antonio, and had a population estimate of over 32,000 residents in 2022. The city is a highly sought after destination for its abundance of affordable homes for under $500,000, according to a recent report by GoBakingRates.

The best small cities across the Lone Star State
The highest ranking Texas cities in the report are Rockwall, a suburb located less than 24 miles northeast of Dallas, and the north Austin suburb of Leander. Both cities appeared in the 97th percentile.

Three additional Texas cities appeared in the 90-99th percentile range: The Dallas-Fort Worth suburbs of Allen (96th) and Flower Mound (93rd), and Cedar Park (95th) outside Austin.

The top 10 best small cities in Texas, based on WalletHub's data, are:

97th percentile – Rockwall and Leander (tie)
96th – Allen
95th – Cedar Park
93rd – Flower Mound
89th – New Braunfels
87th – Southlake
86th – Pflugerville
85th – Little Elm
83rd – Georgetown

The full report and its methodology can be found on wallethub.com.

rankings small cities suburbs wallethub san antonio canyon lake new braunfels