Real Estate Rumblings

Average San Antonio home prices soar past $300,000 in scorching summer selling season

This home is currently on sale in North San Antonio for $309,000, slightly above the average home price in the Alamo City.

Photo courtesy of San Antonio Board of Realtors

San Antonio real estate is continuing its upward trajectory, echoing trends seen in cities across the nation. In its July Housing Trends Report, the San Antonio Board of Realtors revealed double-digit growth in both home sales and average sale price in the Alamo City, welcome news in an economy reeling from the ongoing pandemic crisis.

Home sales last month climbed a whopping 25 percent over July 2019, with 4,231 homes sold. Even after a rocky spring brought on by the COVID-19 crisis, the wild summer selling months have still bolstered the local residential real estate market 4 percent over last year.

The average price of a single-family home has climbed 10 percent to $302,068. The median home price echoed that of the average, climbing 9 percent to $260,700.

This time last year, the average price of an Alamo City home was well below the $300K threshold, at $274,945, while the median stood at just $238,900, according to SABOR data.

“The data indicates positive increases throughout home sales showing San Antonio and surrounding areas leading in the market,” said Kim Bragman, SABOR's 2020 chairman of the board. "We are working to keep all home buyers and sellers as well-informed as possible, so that no one misses the opportunity to buy their dream home or sell their current home to find their forever home."

Despite evidence of the real estate market heating up, the length of time the average home spent on the market in San Antonio increased, a seemingly contradictory trend. In July, a property spent an average of 57 days waiting to sell — a 2 percent decrease.

Despite this slight dip, the near two-month period actually indicates a balanced market, an area where other major Texas areas are struggling.

According to the report, Bexar County had 5,167 active listings and 3,066 total home sales in July — more sales than any other major county in Texas. Unlike Travis (Austin), Harris (Houston), and Dallas counties, which all saw declines in home sales from January to July, Bexar County has continued to grow, with sales increasing 6.5 percent during that same seven-month period.

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.

apartments shopping