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Posted almost 3 years ago

San Antonio Market Update 4/27/21

Hello there! Here’s my latest market update for the San Antonio Real Estate Market. Watch the video below or read on to learn about all the new data!

San Antonio COVID-19 Update

San Antonio is continuing to see a decline in COVID-19 cases and more and more people are being vaccinated. Hopefully this trend will continue, so we can all start to gather and meet again.

The City of San Antonio is accepting applications for emergency rent and mortgage assistance. This is for individuals and families living within the San Antonio city limits who are experiencing hardship. Note that the landlords must be registered with the city as vendors, and will be paid directly.

For more information, register here

Additionally, the South Alamo Regional Alliance for the Homeless has put together an Eviction Prevention Toolkit to help landlords in San Antonio and Bexar County prevent tenants’ evictions.

San Antonio Real Estate Market Update

First, we will look at our Showings Per Week. It is a little lower than we’d expect it to be this time of year, but I suspect this is due to low inventory, not low interest from buyers. There are PLENTY of buyers out there.

Market Update April 27 2021

Rental Showings Per Week are in the normal range.

Market Update April 27 2021 1

Weekly Home Sales have are pretty much where they were last year, in terms of how many homes we are selling.

Market Update April 27 2021 2

Here’s where you can see the big difference between this year and last year, though! Weekly Median Price is quite a bit higher than it was this time last year.

Market Update April 27 2021 3

March Single Family Home Sales increased from last year pretty substantially. I think this mostly has to do with the start of COVID last year during March.

Market Update April 27 2021 4

The price difference however, is not skewed because of COVID. We saw double digit price increases in the Average and Median home prices. This is unprecedented in the San Antonio market. Normally, I’d look at the median for a better indication of the price to expect because the average can be thrown off really easily by the sales of just a few very expensive homes.

Market Update April 27 2021 5

The Multifamily Home Sales for March decreased a bit since last year, but it is more because it is just such a small number. We have so few in the market, so the percentage change looks bigger than it is.

Market Update April 27 2021 8

The Multifamily Home Sale Prices have not gone up nearly as much as the single-family homes, which makes sense because the valuations on multifamily homes are based more on rent. That’s more of a financial calculation, whereas single-family homes are based more on the market, what’s in demand, and how many buyers there are.

Market Update April 27 2021 9

March Residential Rentals have decreased just slightly from last year, but the rent price has gone up a lot! The rent increase is really substantial for San Antonio.

Market Update April 27 2021 10

Market Comparison of San Antonio Proper vs. Smaller Municipalities Within the Metro Area

I thought it would be interesting to compare the values and home sales between homes within San Antonio proper with those of different small municipalities within the San Antonio area.

First, we will look at the San Antonio market, which experienced a lot of growth, particularly in the last quarter. This is consistent with the hot market I’ve been telling you about for months.

Market Update April 27 2021 11

Then we look at Live Oak, which increased quite a bit in the last quarter as well, which is pretty abnormal. I’m seeing a lot of flips happening in this area, so it is bringing a lot more value to the area. This is the municipality that experienced the most growth.

Market Update April 27 2021 12

Converse is really close behind, in terms of growth. Last quarter, the median home value increased over 5%. We’re seeing prices rise in one month as quickly as we’re used to seeing them rise in a year! It is continuing to get hotter and hotter as we go.

Market Update April 27 2021 13

Cibolo’s numbers are a little strange because the area is really large and has a lot of different kinds of properties. I feel like if we narrowed this down to the parts of Cibolo that are really close to I-35, it would be a lot higher.

Market Update April 27 2021 14

Lastly, I threw in Alamo Heights just to compare. I was really curious because Alamo Heights is one of the nicest neighborhoods. The median home price her is $618k, but the value year-over-year has not increased as much. It seems like in this high price range, we’re not seeing as hot a market as other price ranges.



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