Real Estate Rumblings

San Antonio home sales continue to rise along with city's popularity

This Beacon Hill home is currently on the market for $275,000.

Photo courtesy of San Antonio Board of Realtors

The traditional spring selling season may be slowing down, but home sales in San Antonio are on pace for a strong summer. According to the San Antonio Board of Realtors' May 2019 report, 3,608 home were sold in the Alamo City last month, a jump of 10 percent from May 2018.

More than 1,000 more properties hit the market last month, most of which (62.3 percent) sold within the "mid-range" price of $200,000-$500,000. Homes priced less than $200,000 made up a 31.5 percent of the market share, while those above $500,000 made up just 6.2 percent of sales.

“San Antonio has continued to be an attractive place for businesses and families to relocate to due to our affordability and quality of life,” says Gilbert S. Gonzalez, SABOR’s president and CEO, in a release. “Fortunately, there are still homes available at all price points, meaning buyers have options when looking for the property that is right for them.”

The average home in San Antonio, however, sold for $274,238, a slight increase of two percent over last year, and still well below the average price in Texas' other major metros. Bexar County came in even lower, with an average home price of $224,900.

By comparison, the average sales price of a home in Travis County in May was $525,835. In Harris County the average price was $339,685, and in Dallas County, that price was $398,286.

Despite the price points, SABOR says it's still a sellers' market. Housing inventory — the amount of time a property stays on the market — is 3.8 months.

“The low inventory means increased demand, so for those looking to move, this is a good time to think about putting your house on the market,” says Grant Lopez, SABOR’s 2019 chairman of the board. “But that doesn’t mean buyers are out of luck. Even though inventory is tight, there are still thousands of properties on the market."

home-for-sale reports

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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