San Antonio home sales continue to decline in February, latest report shows

REAL ESTATE REPORT

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Home prices went up and sales went down in February, an inauspicious prediction for both homebuyers and sellers in San Antonio’s real estate market. That’s according to the latest market report from the San Antonio Board of Realtors (SABOR).

The latest Multiple Listing Service (MLS) data shows steady price increases in the San Antonio area. The average home price is now at $365,679, an $8,700-plus increase from 2022. Median home prices have hit $310,000, which is a smaller increase from last year, but $50,000 more than 2021.

Despite new home construction skyrocketing at the same rate, existing home sales have dropped by 28 percent. Homes are also staying on the market much longer than they did in February 2022, at around 70 days.

SABOR’s 2023 board chair Sara Briseño Gerrish shared her insights on the current market.

“The months of inventory is being reported at 3.3 and 93.5% of homes closed of their original listing price,” she said. “To close February, there were 3,531 new listings, 2,407 pending listings and 9,712 active listings.”

To add to February’s home sale woes, Bexar County saw a 16.4 percent decline with only 1,612 closed listings, while average prices increased 4.4 percent to $341,204.

Statewide, only 21,838 homes were sold in February, a 14 percent decrease year-over-year.

The full report can be found on sabor.com.

Photo by Chandra Maharzan on Unsplash

New report shows San Antonio home prices drop while overall sales stay steady

REAL ESTATE REPORT

For the fourth straight month, San Antonio new home sales have slowed despite a statewide average price drop, according to the latest HomesUSA.com report. The report uses Multiple Listing Services (MLS) data to determine the status of the San Antonio and statewide real estate markets.

The city’s three-month moving average for the amount of time new homes spent on the market in January was 73 days, which is a four-day increase from December 2022. In January of last year, homes spent an average of 23 days less on the market when compared to last month. The total number of completed new home sales also decreased in January while active listings stayed flat. These findings are consistent with MLS’ data showing a potential statewide sales decline.

In good news, buyers are seeing an improvement when it comes to new home prices. The average home price decreased from $396,487 in December 2022 to $393,316 last month. Additionally, the three-month moving average of the sales-to-list price ratio in San Antonio has dropped for the sixth straight month.

Despite the drop in completed home sales, overall sales are showing stability thanks in part to the price drops. The results are demonstrated in the pending new home sales data for January, which had its highest increase in nine months. There were 674 pending sales last month, up from 596 in December.

HomesUSA.com CEO Ben Caballero says San Antonio’s new home sales indicate the market’s “remarkable stamina.”

“Statewide average new home sales are still strong, despite all the challenges builders face,” Caballero shared in a statement. “But keep in mind as inventory rises, builders are listing more homes, which increases sales reported to MLSs.”

More information about the report can be found at HomesUSA.com.

Photo by Dillon Kydd on Unsplash

San Antonio home sales slowed in December 2022, report finds

Real Estate Report

Rounding out 2022, the San Antonio housing market saw December come and go with decreasing sales and minor increases in prices.

According to the San Antonio Board of Realtors’ last monthly market report of the year, December’s average and median prices for both new and existing homes went up in concert — 6 percent each — outpaced even more by residential rentals increasing 8 percent.

The area’s median home price was $324,000, compared to rentals (average or median unspecified) at $1,810 per month. New homes led the increase, rising 9 percent to $354,995, while existing homes only rose 2 percent to $305,000. The annual median was almost identical to December’s at $323,000, reflecting a 13 percent rise from the previous year.

Whatever the price, San Antonio sold 36,477 homes all year, a 10 percent decrease from 2021. Bexar County finished the year in a more significant slump just for the month of December, closing on 1,704 homes for a decrease of 32 percent compared to last December.

“For the ninth consecutive month in 2022, home sales saw a decrease, this time of 30 percent,” said SABOR's 2023 Chairman of the Board Sara Briseño Gerrish. “This is the biggest year-over-year decline we’ve seen in the last couple of years.”

Briseño Gerrish points out that homes in December stayed on the market 59 days, which is more than twice as long as in 2021 — a 74 percent increase. However, she added that the month ended with fewer pending listings than last December, a decrease of 39 percent.

Across 2022, the biggest residential price change was in lots and acreage, which grew 49 percent in price per square foot, averaging out at $38. Conversely, commercial land stayed about the same, even dropping 2 percent. The biggest price decrease per square foot was in condominiums and townhomes, which dropped 37 percent to $257.

Courtesy of Arts+Labor

San Antonio's top 10 stories of 2022 feature a Texas legend and famous fried chicken

2022 in Stories

Editor’s note: As 2022 comes to a close, we're looking back at the stories that defined San Antonio this year. We've covered food and travel, and now it's time to set our sights on San Antonio at large. This year, San Antonians had fun; they gravitated toward novelty (alpacas, bowling, and a cave house) while keeping pace with the more serious world around them (strong local economies and urban expansion). Here are the 10 most-read San Antonio stories of 2022.

1. Re-released documentary explores the greatest Texas musician you've probably never heard of.Sir Doug and the Genuine Texas Cosmic Groove was available to stream again in November. "Has San Antonio lost its soul? Has Austin lost its groove? Doug Sahm is the answer," reads a recent release for the documentary ahead of its re-release and a special San Antonio screening on Friday, November 11.

2. Famous fried chicken and biscuit chain hatches 3 San Antonio locations. Bojangles, the North Carolina-based fried-chicken-and-biscuits chain with a die-hard following, plans to enter the San Antonio market over the next several years with three locations. It says it will open three Bojangles locations in Northeast San Antonio. Those franchise restaurants will be operated by Copacetic Group.

3. Affluent San Antonio neighbor named No. 7 richest county in Texas. One San Antonio neighbor was listed among the richest counties in Texas, according to data analysis compiled by Stacker. The website compiled a list of the wealthiest counties in Texas based on median household income, and Kendall County nabbed the No. 7 spot at $84,747.

4. San Antonio-area farm opens Alpaca Pumpkin Patch for festive fall fun. Located just 40 minutes southeast of Alamo City, Black Barn Alpacas is a 16-acre ranch home to 50 adorable alpacas. The ranch hosted its autumn harvest festival every weekend in October. In addition to alpaca petting, feeding, and photo opportunities, visitors enjoyed live music, carnival games, hay rides, food trucks, bounce houses, and pumpkin painting.

Black Barn Alpacas is a 16-acre ranch home to 50 adorable alpacas. Photo courtesy of Black Barn Alpacas

5. Construction begins on downtown San Antonio’s $27 million ‘central park’. On January 26, 2022, community leaders — witnessed by 200 excited area residents — broke ground on Civic Park at Hemisfair, San Antonio’s central park, marking the beginning of 18 months of construction that will result in a world-class public greenspace.

6. Charming Texas Gulf Coast community named one of the most affordable beach towns in U.S. A report from Realtor.com said a popular Texas coastal town is among the most affordable in the country. Rockport, Texas, a coastal community a little under a three-hour drive from San Antonio, landed at No. 7 on Realtor.com’s list of most affordable beach towns in the country. The charming Gulf Coast town’s average home list price was $435,112.

7. San Antonio suburb booms as No. 5 fastest-growing cities in the U.S. Estimates released May 26, 2022, by the U.S. Census Bureau ranked New Braunfels No. 5 for population growth from July 2020 to July 2021. New Braunfels' population rose 8.3 percent during the one-year period, topping out at 98,857.

8. Massive upscale bowling and entertainment mecca rolls into San Antonio. After a two-year delay caused by the pandemic, Pinstack, the Dallas-based bowling, entertainment, and dining destination, finally got the ball rolling on its San Antonio fun hub, located at 742 NW Loop 410, suite 201. The new Alamo City Pinstack is the fifth location for the company, which also has entertainment centers in Plano, Las Colinas, Allen, and Austin.

9. San Antonio home with private cave explores the market at $875,000. Originally listed in July at $950,000, the home had a pending offer after the price was slashed by $75,000 to $875,000. Aside from the four-bedroom, three-bathroom, 2,745-square-foot home, the property featured a cave discovered in 2004 when the current owners were clearing the more than two-and-a-half-acre homesite.

SA Zillow cave home The cave’s main room measures about 30 by 26 feet and contains nine-foot-tall formations. JB Goodwin Realtors

10. 16 Veterans Day specials that salute San Antonio military service members. From restaurants and coffee shops to retailers and exercise classes, CultureMap rounded up the best Veterans Day discounts for those that have served and continue to serve our nation.

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Texas remains a hot spot for international homebuyers, shows new report

Red-hot housing

International homebuyers seeking an abode in the U.S. still have their sights set on Texas, according to a new report.

The Texas International Homebuyers Report, released this month by Texas Realtors, shows that Texas remains the third hottest U.S. destination for international homebuyers.

The Lone Star State comes in behind Florida and California, just like in years past.

From April 2021-March 2022, 7,888 Texas homes were purchased by buyers from outside the U.S., accounting for 8 percent of the country's international home purchases. No. 1 Florida, meanwhile, accounted for 24 percent of purchases, with No. 2 California at 11 percent.

In total, 98,600 U.S. homes were sold to international buyers during the time period, to the tune of $59 billion. This year's report does not include total sales dollars for the Texas purchases.

“Texas remains one of the most desirable destinations for people looking to purchase a home in the United States,” said Russell Berry, chairman of Texas Realtors, in a release.

“The region of origin for homebuyers choosing Texas had a noticeable swing this reporting period. Historically, the largest number of homebuyers purchasing in Texas from outside of the United States are from the Latin America and Caribbean region. While that is still true, European homebuyers nearly closed the gap this past year.”

Thirty-one percent of Texas' international buyers were from Latin America/Caribbean, with 27 percent from Europe, 21 percent from Asia/Oceana, and 11 percent from Africa.

Texas also holds onto its status as a hot market for international commercial real estate transactions. According to the 2022 Commercial Real Estate International Business Trends from the National Association of Realtors, Texas accounted for 14 percent of international commercial buyers in 2021, second only to Florida's 22 percent.

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11 reasons to escape the San Antonio bustle with a day trip to Dripping Springs

JUST WEST OF WEIRD

As a Dripping Springs native, I like to think I know it pretty well. The town has come a long way from being known as the place “just west of weird," exploding in recent years into a suburb of Austin (though many would frown upon that designation). If you’re driving on Highway 290, viewing the Dripping Springs water tower with its “Gateway to the Hill Country” motto in bold letters serves as a personal welcome for residents and newcomers alike.

Despite the rapid recent growth in the Austin area, Dripping Springs still has many of the small-town features that its local residents — and transplants — all love. Many of the culinary staples I enjoyed as a teenager are still thriving, years after the COVID-19 pandemic threatened local businesses statewide. The annual April Founders Day Festival has been a must-see for families for decades.

Those in search of a new day trip spot should consider these 11 places to visit in Dripping Springs.

Where to Eat

Homespun Kitchen & Bar
Homespun is a farm-to-table American restaurant with European influences that serves brunch, lunch, and dinner with live music and kid-friendly spaces. Chef Michael St. Germain is behind all menu choices, applying his experience from San Francisco restaurants and bringing critical acclaim for his burgers, according to the restaurant's website. With weekday specials, fresh-made desserts and over 300 whiskeys to choose from, there’s a little something for everyone to enjoy. Reserve at homespunkitchenandbar.com.

Oak Creek Cafe
Who can say no to some good Southern comfort food? Oak Creek Cafe has been operating at the corner of Sportplex Drive and Highway 290 for several years. Must-try menu items include the chicken fried steaks, biscuits and gravy, and mushroom Swiss burger. The cafe regularly posts photos of its large plates of comfort food on Facebook, and Google reviewers love it as a breakfast spot above all.

Rolling in Thyme & Dough
A personal favorite: Rolling in Thyme & Dough’s original Highway 290 location is in the center of Dripping Springs, offering delicious pastries, breakfast, and lunch options. Fan favorites include the smoky chipotle breakfast sandwich, the TX two-step sandwich for lunch, and any of the freshly-baked pastries. They also have weekly BYOB bistro nights on Wednesdays in the spring, utilizing fresh ingredients from the Dripping Springs Farmers Market.

Mazama Coffee Co
Since its founding in 2012, Dripping Springs’ first independent coffee shop has been caffeinating the town for over a decade. They micro-roast their own beans from Ethiopia, Costa Rica, Colombia, Guatemala, Indonesia, and Brazil. They also have a bakery to provide customers with well-loved baked goods and lunch. Mazama’s was named the Best Coffee Shop of Dripping Springs from 2018-2021, according to their site.

The Great British Baking Company
This cozy food spot is a newer addition to Mercer Street. The Great British Baking Company adds to the growing food culture in town with their homemade sticky toffee pudding, sausage rolls, scotch eggs, and rotating soups. All of their menu items are made right behind the checkout counter in their open kitchen. Don’t forget to browse their selection of imported British goods, and make sure to take home a parfait or chocolate mousse in a jar.

What to Do

Dripping Springs Chocolate Company
The Wilson family created their chocolate business as a way to support local economies in Nicaragua after a family mission trip. In their mission statement, they aim to create the best chocolate while “improv[ing] the lives of the farmers and communities that grow the cacao.” They’ve since expanded their initial chocolate offerings to spice rubs, dessert and hot cocoa mixes, and chocolate-covered snacks.

The Sated Sheep
As a self-described “psychologist-turned-fiber-junkie,” this yarn shop owner has created her own community surrounding fiber crafts and a love of knitting. Allison’s shop has been a must-see for any visitors looking to pick up a new hobby, or wanting to grab a glass of wine and watch other knitters or crocheters create works of art. The shop offers affordable classes for any skill level, private lessons, and workshops for special events.

Vintage Soul
If you’ve never met Julie Crawford, you’re missing out on one of the most bubbly and welcoming personalities in Dripping Springs. Whether you’re in her Mercer Street shop or watching her weekly “Try-on Tuesday” Instagram stories, Julie makes everyone feel confident in her clothes and accessories. And let’s be honest, everyone loves information about true garment sizing before you try it on or buy online.

Starrs on Mercer
Two sisters with zero retail experience collaborated in 2015 to build a bustling “modern day department store” on Mercer Street. Born out of a love for shopping and convenience, Starrs on Mercer is a one-stop shop for women’s, men’s, and baby clothing, plus accessories, and gifts. The Starr sisters have since opened a travel agency, Starrs On The Go, to expand their endeavors.

Treaty Oak Distilling
You can’t write about Dripping Springs without including some popular distilleries. When it was founded in 2006, Treaty Oak says it was only the fourth distillery operating in the state. The distillery sits on a 28-acre property on Fitzhugh Road with plenty of space for children to explore while you sit back and enjoy a hand-crafted cocktail. Tours of the distillery are available on Fridays, Saturdays, and Sundays, and classes are available on select Saturdays every month.

Desert Door Distillery
What was once a barren plot of land on Darden Hill Road has now developed into the only sotol distillery in the United States. Desert Door hosts a range of live music weekly, offers tours on weekends, and also has a rental space for private events. With a variety of cocktails and tacos made by James Beard award winner Jesse Griffiths and Spoke Hollow Steward, it’s definitely a go-to for any day trip itinerary.

San Antonio meat palace Fogo de Chao expands its menu with new plant-based options

Vegan News

Well, here's a twist: Fogo de Chão, the churrascuria-style restaurant concept from Brazil known for its dedication to meat, is expanding its menu in an unprecedented new direction: They're adding tofu.

Effective immediately, the restaurant will offer new plant-based and nutrient-dense dishes, alongside an enhanced Bar Fogo beverage list that has new non-alcoholic craft cocktails made with low-proof spirits (less than 0.5 percent alcohol).

Fogo CEO Barry McGowan says in a release that they're responding to demand from their younger, more health-conscious customers.

"Our young and dynamic guests consider themselves food explorers who seek new culinary discoveries with each visit,” McGowan says. “For nearly 45 years we’ve had nutrient-dense and plant-forward dining options for every occasion and dietary tribe throughour Market Table. With the rollout of our new dining choices and clean cocktails, we continue to offer our guests the variety and discoveries they crave while doing it in a wholesome and flavorful way.”

The Market Table is their famed salad bar, which has sated many a vegetarian diner or else those just not up for the whole skewered meat thing that is a trademark of Fogo and other churrascuria-style places.

Entrees
Two new plant-based innovations will join Fogo's existing Vegetarian and Pescatarian dishes such as the Cauliflower Steak, and will be available on the main dining menu available for lunch, brunch, and dinner as an alternative to the Full Churrasco Experience, as follows:

Seared Tofu with Miso Black Bean Pasta - Chimichurri-marinated tofu served atop black bean pasta sautéed with green onion, Napa cabbage, pickled onions and carrot ginger-miso dressing. Vegan and gluten-free.
Roasted Power Vegetable Bowl - Roasted eggplant, marinated mushrooms, roasted zucchini, asparagus, and baby peppers served with chimichurri spinach rice. Vegan and gluten-free.

togo power bowl Roasted Power Vegetable Bowl at Fogo de Chao.Photo courtesy of Fogo de Chao

They're also rolling out new dishes on the Market Table which for the past 45 years has showcased nutrient-dense and flavorful choices including seasonal salads, micro greens, natural and plant-based proteins, imported charcuterie, and more.

New items on the Market Table are as follows:

Spring Hummus - Fresh hummus blended with herbs, roasted garlic and citrus, topped with radish, fresh mint, edamame, and olive oil.
Baby Kale & Mango Salad - Fresh baby kale, Napa cabbage, red radish and mango, tossed in a lime honey dressing.
Miso Black Bean Pasta - Gluten-free black bean pasta tossed with green onion, Napa cabbage, pickled onions and carrot ginger-miso dressing.
Apple Manchego Salad - Granny Smith apples and Manchego cheese tossed with honey, cracked pepper and black mission figs.
Power Greens - A seasonal mix of vitamin-rich greens, fresh herbs and micro-shoots

The Bar
The Bar Fogo menu now features five new cocktails, including three made with Clean Co’s non-alcoholic spirits with less than 0.5% alcohol, as follows:

Yellowbird - Desolas Mezcal, Passion Fruit, Pineapple, Cointreau, La Marca Prosecco
Espresso Martini - Diplomatico Reserva Rum, Caffe Borghetti and Licor 43
Clean Cosmo - CleanCo V (Vodka) Apple, Cranberry, Fresh Lemon
CleanR Sour - CleanCo R (Rum), Passionfruit, Pineapple, Aquafaba, Bitters
Clean Cucumber Martini - CleanCo V (Vodka) Apple, Cucumber, Basil, Lemon Twist

Founded in southern Brazil in 1979, Fogo has seven other locations across Texas: Addison, Uptown Dallas, Plano, Friendswood, Houston, Austin, and The Woodlands.

San Antonio rent prices increased 7 percent from 2022, plus more top stories

Hot Headlines

Editor’s note: It’s that time again — time to check in with our top stories. Here are five articles that captured our collective attention over the past seven days.

1. San Antonio rent prices increased 7 percent from 2022, report finds. Despite rent increases showing small improvements month-over-month, overall prices in the San Antonio area are still on the high side from the previous year.

2. Popular San Antonio doggy daycare opens new location in Alamo Ranch. The award-winning Dogtopia has gained so much love from the local community thanks to its thoughtful design approach and programming.

3. Bask in local artistry with the inaugural San Marcos Studio Tour in April. The inaugural, self-guided San Marcos Studio Tour will feature more than 50 artists all across San Marcos and the surrounding area.

4. Own a piece of Utopia with this Hill Country riverfront retreat listed for $2.5M. This secluded, tree-filled, riverfront estate boasts nine guest cabins and "the Fortress," a historic lodge that can sleep 12 guests.

5. Blockbuster Western art exhibition and sale stampedes into San Antonio. The Briscoe Western Art Museum's annual Night of Artists Exhibition and Sale returns to San Antonio March 24 through 25.

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