In what looks like signs of normalizing for both homebuyers and sellers, the San Antonio real estate market is seeing sales climb while prices fall.
The latest report from HomesUSA.com stated new home prices have fallen since February, with the average new price now at $375,551, which is $12,173 lower than last month.
HomeSalesUSA.com CEO Ben Caballero said in a press release that builders are attempting to avoid slashing prices by providing incentives for buyers and bonuses for agents. He said he does expect these measures to continue. He commented that San Antonio’s new home sales were “tenacious.”
“Despite the gyrations in mortgage rates, the market is finding balance,” he said.
March had the highest reported Multiple Listing Services (MLS) total monthly sales in San Antonio in about a year. The three-month moving average for new home sales last month was 644, which is 73 more sales than February.
The MLS spike can mostly be attributed to builders listing homes that were previously sold on a waiting list, according to Caballero. Interest rate jumps meant disqualified buyers pulled out from purchasing, therefore causing inventory to increase. Then the builders listed those homes in the local MLS.
While active listings decreased in March, pending new home sales increased to their highest level in nearly a year to 912. Homes are also staying on the market longer since last month’s report with the average at nearly 86 days in March, which is a 33-day increase year-over-year from 2022.
A handful of other buildings are scattered around, but the only grandiose thing about the property is the land.
A large live-water ranch — a type of property with a constantly flowing creek, spring, or river running through or along it — is a rare find near San Antonio. One of these gems just came on the market in the Hill Country for $21.4 million.
Miller Creek Vista Ranch, loaded with Lone Star charm, comprises 844 acres near Johnson City. The picturesque property, about 60 from San Antonio and 36 from Fredericksburg, is being sold as a whole or as two separate ranches. The ranch was established in 1950.
“Whether someone is looking to create a multigenerational family ranch, make a long-term land investment, or explore a visionary hospitality or residential project, Miller Creek Vista Ranch offers an opportunity that’s incredibly rare in today’s market,” says broker Louie Swope, owner of San Antonio-based West and Swope Ranches, which has the listing.
“The location, the water, and the landscape make it one of the most remarkable ranches we’ve had the opportunity to represent.”
The ranch features about 4,400 feet of frontage along each side of spring-fed Miller Creek, providing a reliable water supply for ranching as well as fishing, swimming, kayaking, and other water activities — and heightening its appeal as a getaway spot. Several seasonal tributaries wind through the property.
In addition to the live water source, the property offers fertile creek bottoms, mature live oak trees, native hardwood trees, native pastureland, and panoramic Hill Country views. Deer, turkeys, doves, and other wildlife inhabit the ranch.
“Complementing the land is a historic ranch headquarters with original ranch improvements that reflect decades of thoughtful stewardship while preserving the property’s authentic character,” the listing says. “An established network of ranch roads and trails provides excellent access throughout the ranch, making it easy to experience every corner of the property.”
The quaint ranch house, encompassing about 1,660 square feet and sitting beneath a canopy of live oaks, looks like it’d be right at home in a Taylor Sheridan show.
Unlike accommodations you may find at a splashier Texas ranch, the house includes just two bedrooms and one bathroom. Two quintessentially Texas touches: A weathered windmill towers above the house, and an equally weathered metal roof sits atop the house.
One of the bedrooms feels folksy and lived-in. In a staged photo, a patchwork quilt in browns, reds, and blues lays atop the bed, and lace curtains and valances accent the wood-paneled walls. A straw cowboy hat hangs from one of the valances, and an “Always kiss me goodnight” sign is positioned above the largest of the room’s two windows. Potted plants line a wooden bench under the other window.
This staged room really plays on the quaint countryPhoto courtesy of West and Swope Ranches
Photo courtesy of West and Swope Ranches
A handful of other buildings are scattered around, but the only grandiose thing about the property is the land.
A photo of the no-frills kitchen shows a basic white refrigerator; the Down Home Cooking cookbook propped up by a cake container on a table draped by a checkered cover; time-worn cabinets; and a doorway leading to a cabin-style, wood-paneled room with a dark brown recliner.
In another photo, the cozy farmhouse-esque dining room contains lace curtains, an oval table and chairs in a honey-tone wood, a woven basket of fruit, a pastoral farm painting on one of the walls, an amber hurricane lamp atop a sideboard, and a stained-glass-style ceiling fixture. Sunlight bathes the room. To round out the look, a teddy bear is tucked into a chair in the corner.
Ranch amenities include an original wood barn, livestock facilities, storage structures, and a deer stand.
“A historic native stone cistern remains as a reminder of the property’s early history, further enhancing the legacy and character of this exceptional Hill Country ranch,” the listing says.
This staged room really plays on the quaint countryPhoto courtesy of West and Swope Ranches
