real estate report

New home sales and prices fell in September in San Antonio, per report

New home prices decreased across Texas in September, including in San Antonio.

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A new analysis of the statewide real estate market has revealed new home sales in Texas have slowed since September, despite a drop in average prices. Plus, inventory is on the rise.

The September edition of the New Home Sales Report by Dallas-based platform HomesUSA.com examined MLS data across Dallas-Fort Worth, Houston, Austin, and San Antonio to determine the status of the overall real estate market.

The report found that the three-month average number of new home sales fell across all four major metros in September. San Antonio saw the most dramatic decline in sales with 1,067 new homes sold in September, versus 1,100 in August.

Elsewhere in Texas, Austin saw the smallest decline in home sales, down by just seven sales to 864 in September. Houston’s total new home sales fell by 27 to 1,943 in September. In Dallas-Fort Worth, new home sales dropped from 1,862 in August to 1,848 in September.

New home prices are dropping in San Antonio
Three-month average prices for new homes across Texas have fallen from $432,749 in August to $429,898 in September, the report found. In a year-over-year comparison from September 2023, new home prices have plummeted almost $29,000.

Average new home prices fell in San Antonio, Austin, and Houston in September, but increased in Dallas-Fort Worth.

Here’s how home prices changed across all four major metros from August to September:

Dallas-Fort Worth: Increased from $489,762 to $492,129
Austin: Decreased from $494,920 to $483,408
San Antonio: Decreased from $340,755 to $338,620
Houston: Decreased from $402,741 to $397,318

How long on the market
The trends also show the three-month average Days on Market (DOM) — the average time homes sit on the market before being sold — across all four real estate markets came out to 97.76 days in September. New homes are remaining on the market slightly longer than they were in August, when the three-month average DOM was 97.05 days.

Specifically in San Antonio, the report said new homes sat on the market for 80.87 days before selling in September, in a slight uptick from August’s DOM of 79.71 days.

New home inventory
New home inventory (the number of active listings on the market) in Texas is also on the rise. The three-month average inventory in September came out to 32,337 new listings, versus 31,893 in August. Active new home listings rose in Dallas-Fort Worth, Houston, and Austin, but decreased in San Antonio.

"San Antonio was the outlier, as active listings last month decreased to 5,384 versus 5,512 in August," the report said.

There were 12,994 active listings in Houston, 7,939 active listings across Dallas-Fort Worth, and 6,019 in Austin in September.

HomesUSA.com founder Ben Caballero cited fluctuating mortgage rates as one of the main reasons why Texas’ real estate market is “showing mixed signals.”

“...But the silver lining is that sales compared to the same time last year are up 12 percent,” said Caballero.

The monthly Texas New Home Sales Report combined the four largest new home markets — Houston, Dallas-Fort Worth, Austin, and San Antonio — to determine its overall statewide data, which makes up the vast majority of new home sales in Texas.

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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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