Area home sales jumped 9 percent in February, with San Antonio home values continuing to climb. We sold 2,200 houses last month, more than half between the $200,000 to $499,000 range and 40 percent of the sales at $199,000 or less. Five percent went for more than $500,000.
That $199,000 number is hard to come by these days – and when we find one, it sells quickly. Case in point: I added a $200,000 two-bedroom Farmington Commons condo (right) to MLS just one week ago and it’s already under contract. So if you’ve got a condo or smaller home and you’re ready to upsize, now’s a great time for us to list it.
To understand why this price range is so popular, all you have to do is look around the Pearl, Geekdom or any cool coffee shop. We’re enjoying an influx of creative 20- and 30-year-olds to our city – so many, in fact, that San Antonio is home to the second-fastest growing millennial population, right behind Colorado Springs. Express News reporter Melissa Fletcher Stoeltje tells us why in this EN-Depth podcast.
They’ll certainly get more for their money here – especially those moving from the Bay Area, where San Francisco is ranked the worst for first-time home owners. I still have my eye on these two $235,000 listings that I told you about last month. The Oakland house is just 364 square feet with no running water. The San Antonio house not only has water, but an extra 2,157 square feet of space! That’s $93 per square foot in San Antonio vs. $646 per square foot in Oakland. Wow. What a difference!
Several of you filled out last month’s poll – and I’ll repeat below. So far, most of us believe the Oakland home will sell for $200K above asking. Have you cast your vote yet? What do you think?
I think the Oakland house will sell for:
I’ll keep a watch on it and let you know!
Speaking of getting more for your money, I have a gorgeous new listing in Sunset Villas on Sunset Road near Broadway, featured in the photo above. Learn more about it here – I’d love to show it to you.
Happy Spring – and happy home buying and selling!
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