Investor · San Antonio, TX · Member since 2016 · 41 posts · 9 votes
Just curious if anyone else had noticed a slowdown in sales and prices in Southtown. I own one property in the area and had it listed for several months with several price reductions (beginning before Covid). I finally took it off the market and rented it because I can't help but think the prices will come back up if I wait a couple of years. Anyone have insight into why Southtown might have lost some of its appeal? Or maybe it's just a correction of overinflated prices?
Investor · San Antonio, TX · Member since 2017 · 13 posts · 9 votes
6y
Hi, What specific "southtown" area are you referring to? I've seen compareables in the 78201 zip that are one street over or even on the same street but a different block (ex: W Rosewood) be considerably more or less desirabile.
Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes
6y
Southtown is still going but prices have gotten a little out of hand, in my opinion. $300+ per sf is a little high for SA, even though it is a great area. I have seen good movement when properties are priced in the low $200 per sf price range.
Do you have a rent type of house or a rehabbed house?
Investor · San Antonio, TX · Member since 2016 · 41 posts · 9 votes
6y
It's an updated house, though not by me...was updated when I bought it. Not high end, but nice. I have always used it as a rental. It was initially priced at $240/SF because two other homes on the street had sold for that price. By the time I took it off the market, it was at $163. I had no real reason to sell it other than what I thought was a hot market at the time in Southtown, so figured I would try again in the future!
Sorry to hear that. Southtown is overpriced in my opinion... especially the areas the train runs by, night or day. This certainly takes appeal from the area in spite of how much one would like to inflate it