Real Estate Rumblings

San Antonio real estate shows signs of rebounding despite pandemic

San Antonio's real estate market is faring better than most.

Photo by Ariel Skelley/Getty

San Antonio's real estate market is continuing to see effects from the global pandemic, but the city is faring better than most U.S. metros.

On June 10, the San Antonio Board of Realtors released its May Housing Trends Report, a compilation of all homes sold in San Antonio and Bexar County over the last 30 days. This month's report, the second since the COVID-19 shutdown began, unsurprisingly showed a dramatic, 20 percent drop in the number of homes sold.

Despite that decline, home prices continue to rise. In May, the average sale price for a San Antonio home was 281,353 (3 percent increase) while the median price was $242,400, an increase of 2 percent. In 2020, the Alamo City's average home price is up 5 percent over 2019, at $274,645.

And while county-wide home sales saw a double-digit dip, Bexar County's 20 percent drop was still the lowest among Texas' four biggest metro areas. Last month, Travis County (Austin) had the biggest drop in home sales at 33 percent, followed by Dallas County (32.9 percent) and Harris County (Houston) at 24.9 percent.

“While we saw a little downward trend this month compared to May 2019, if we're looking at total numbers for the year, the sales numbers are only at 0.3 percent decrease, so we're near par for year-to-date home sales,” said Kim Bragman, SABOR's 2020 chairman of the board, in a release. “Also, we are entering into June with total number of pending sales up by 20 percent, which is promising for an upward trajectory to round out the year, as we move into summer buying months."

As Bragman notes, San Antonio curiously had 3,745 sales pending as it entered June — a good indicator of the strength of San Antonio's residential real estate market. According to SABOR, there have been 18,676 active listings, and 13,032 total home sales in the city this year.

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Take A Walk

New multifamily community opens near Stone Oak restaurants and shopping

Rendering courtesy of Greyson Luxury Living

The new community offers 291 units.

A new multifamily community is now open to prospective residents in San Antonio. Greyson Luxury Living comprises 291 units at 1734 N. Loop 1604 West, with a focus on lifestyle amenities. But the location will be the main draw for many.

Apartment floor plans range from one to three bedrooms, starting at $1,317 for one bedroom and one bathroom, and working up to a base price of $2,611 for three bedrooms and two baths. The community's pet policy according to the website is: "We welcome all your furry friends at Greyson."

Residents will get reserved parking and a garage with EV charging stations, but it might not always be necessary to hop in the car. The apartments are directly adjacent to restaurants like Cover 3, Eddie V's Prime Seafood, and Blü Prime Steakhouse — not exactly everyday eats, but there's tons more at the Vineyard Shopping Center and the Stone Oak neighborhood's Blanco Market Shopping Center across the highway.

In addition to restaurants, the community is less than a five-minute drive from H-E-B Plus, Whole Foods Market, Target, fashion and furniture stores, and multiple fitness studios like StretchLab and LA Fitness.

A press release promises wood-style flooring, quartz and granite countertops, and ceramic tile backsplash. On the more utilitarian side, it offers single-basin sinks, kitchen islands, "spacious" pantries, a stainless-steel Energy Star appliance package, and washer and dryer connections. (Images shared by the complex so far appear to be more illustrative of the desired vibe than the actual space.)

Every floor plan also shows a private patio or balcony. The most expensive floor plan — the three-by-two — has a wraparound outdoor space.

For shared spaces, a resort-style pool with a tanning shelf (a very shallow area for placing lounge chairs) and bike storage encourage residents to get outside, and a dog wash station makes it easy to leave dirt and hair outside of apartments. There's also a fitness center, a clubhouse with wi-fi, elevators, and concierge services.

“We developed Greyson as a luxury multifamily community aimed to fit any type of lifestyle, and we are grateful for all of our partners that helped bring this project to life,” says Ed Garahan, partner and CEO at Carbon Companies, the development firm heading the project.

Carbon Companies also sold the Addison Medical Center Apartments, Ventura Ridge, Triomphe Apartments, and Pecan Springs Luxury Apartment Homes, with more in the works in San Antonio.

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