A Look at the Housing Market in San Antonio

King William Historic District
Creative Commons License photo credit: ChicagoGeek

San Antonio, Texas has a reputation for offering the attractions that most city folk are used to; while also having the feeling of a small town in many areas. Many people don?t know just how large the city of San Antonio is. It?s the 7th largest city in the United States. In the big state of Texas, San Antonio is also the most visited or has the highest rate of tourists. This is because of great tourist destinations like the TPC San Antonio Golf Course, Alamo and Seaworld. The unemployment rate is also lower than those of other large cities in the U.S. So how does the real estate market in the area stack up?

First off, the market in San Antonio is as unique as the city itself. The home prices have remained quite stable and don?t appreciate rapidly in comparison to other major cities of the same size. This slight stagnation didn?t prevent home sales in the first quarter from rising by 10% over last year. Even though San Antonio is one of the largest cities in Texas, the purchase price of homes in the city are generally much less expensive than in other parts of the state. The median home price this quarter for the area was only $146k and home buyers were only required to have an annual income of $26k to be approved for a home loan or mortgage. This has been a real draw or attraction to home buyers in years past and the current trend seems to indicate that things will remain stable in regards to the amount of buyers that purchase in San Antonio. It is currently still a buyers market in San Antonio. However, many realtors are noting that there has not been a drop off of sales, even though the tax incentive expired in May of this year.

All of this bodes well for a city who?s real estate market has not changed very much even with the change in economy. You?ll need a good Realtor in San Antonio, because the prices of homes, while remaining steady; can vary greatly depending on the school district and area you choose.