For San Antonio residents and frequent visitors, this may come as no surprise: Our city is growing faster than any other large city in the United States, outpacing Phoenix, Dallas, Houston – even Los Angeles.
That’s according to the U.S. Census Bureau, which reports an increase of more than 24,200 San Antonio residents between 2016 and 2017 – an average of 66 new people per day. In fact, U-Haul reports that San Antonio is the fifth most popular one-way destination city for their renters. And U.S. News and World Report ranks us #14 place to live and #3 best place to retire.
We’re now at 1.5 million people with another 1 million expected by 2040 – with folks coming here for better jobs, schools, culture, weather and a lower overall cost of living. The improvements under way around the Alamo, the River Walk, the Pearl – it’s an incredibly exciting time to live and work in San Antonio.
What does that mean for real estate? At the moment, our number of newcomers is outpacing our number of homes for sale. This supply/demand imbalance is driving San Antonio home prices higher, and at a faster clip, than almost anywhere else in Texas, according to the Texas Association of Realtors. Our median home price is around the $214,000, a 7.3 percent increase over this time last year.
That’s certainly great news for home sellers. Plenty of people are waiting to purchase your home – and if you list it now, we’ll likely receive multiple offers.
For home buyers, now’s the time for us to start looking. Based on what we’re seeing, prices are heading one direction – up.
This year marks San Antonio’s 300th anniversary. Our beautiful homes and neighborhoods, coupled with all the exciting improvements in the works, are truly making us a 21st century world-class city. I’m thrilled to be a part of it all.
Your neighborhood expert,