A buyer's market?
San Antonio home prices have actually fallen, according to this surprising report
Is the San Antonio market cooling down? A new report from Trulia ranks the Alamo City No. 1 among 10 U.S. markets where list prices have stalled — or even fallen — over the past year.
The real estate site used information from "Trulia Data Central" to identify "cool markets and give some context around the sluggish price performance," according to a release. In total, four Texas metros appear on the list: two with price decreases — San Antonio and Austin — and two with prices that stalled — Houston and Dallas.
The San Antonio metro area has seen a price decrease of more than 5 percent year-over-year. Currently, says Trulia, the median listing price is $269,499, down from $284,900 in March 2017.
But, before we dare call it a cold market, Trulia's managing editor David Weidner offers a little insight into the stalled pricing and reminds that home values are still on the rise.
"First, Texas home values continue to rise. That means if you have a home in Texas, its value is appreciating," he tells CultureMap. "Second, Texas metros are building at some of the fastest rates in the country. The new housing is priced roughly at levels of a year ago, suggesting that new supply is keeping up with demand."
According to Trulia, the median home value in the San Antonio area is $183,602, up almost 7 percent from March 2017.
The Austin-Round Rock metro area ranks second on the list, with a median listing price is $336,995, down 3.4 percent year-over-year. The median home value, however, is up 5.21 percent to $293,945.
Houston (No. 7) and Dallas (No. 8) appear farther down the list, with relatively flat home prices but increasing home values.
In the Houston metro area, the median listing price of $299,520 has increased only $1,216, but home values are up 5.42 percent to $196,155. The median listing price in Dallas is now $356,999, up $1,671 from last year. Home values there are appreciating like crazy, up 15.14 percent to $247,130.