real estate report

San Antonio sees biggest drop in home sales in years, but prices continue to rise

Sales dropped 24 percent in November 2022 compared to November 2021.

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For the eighth month in a row, San Antonio home sales are on the decline. Last month, home sales dropped 24 percent from the previous year, according to the San Antonio Board of Realtors' November 2022 report. It's the biggest drop in year-over-year sales since May 2020, at the height of the pandemic.

Despite dropping sales, home prices continued to climb year-over-year, reinforcing the trend that has defined the local market in 2022. Last month, the San Antonio market's average home price grew 4 percent year-over-year to $372,126, while the median price was up 5 percent to $314,625.

Homes also spent more time on the market this November compared to last, and inventory was also on the rise, with active listings up 90 percent from last year, says SABOR chairman Tracie Hasslocher.

“In November, there was a significant increase in the number of days a home stayed on the market,” Hasslocher notes in a release. “Compared to the same month in 2021, homes were on the market for 52 days, that’s a year-over-year hike of 68 percent."

Looking at 2022 as a whole, SABOR reports the average San Antonio home has sold for $380,176 this year, and the median price for all homes sold in 2022 is $323,000.

At the county level, Bexar clocked in with a median home price of $299,938 last month, making it the most affordable of Texas' major counties.

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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