Blog

San Antonio, TX: Real Estate Market & Trends 2016

The San Antonio real estate market is shaping up quite nicely in 2016. Home prices and appreciation rates are on par with the national average, while home affordability, employment and job growth rates remain some of the best in the nation. Prices for the San Antonio real estate market have grown relative to last year, which currently sits at $195,500; compared to the national average of $215,767. What’s more, appreciation rates continue to outpace the national average — a trend that should continue in the second-half of 2016.

San Antonio, TX Real Estate Market Statistics:

San Antonio real estate investments

For San Antonio real estate investors and homeowners, the rate at which homes are appreciating is more than satisfying. Compared to the national average of 6.1 percent, San Antonio real estate appreciated at a rate of 5.8 percent in the first quarter of 2016. However, when you consider the last three years, which saw that amount grow by 24.8 percent compared to the national average of 22.6 percent, the appeal of San Antonio real estate investments starts to form. For those looking to invest in the San Antonio real estate market, the following provides a breakdown of appreciation rates in previous years:

  • Homes purchased in the San Antonio, TX housing market one year ago have appreciated, on average, by $13,900. The national average was $15,781 over the same period.
  • Homes purchased in the San Antonio, TX housing market three years ago have appreciated, on average, by $47,282. The national average was $49,356 over the same period.
  • Homes purchased in the San Antonio, TX housing market five years ago have appreciated, on average, by $58,371. The national average was $68,727 over the same period.
  • Homes purchased in the San Antonio, TX housing market seven years ago have appreciated, on average, by $66,172. The national average was $59,758 over the same period.
  • Homes purchased in the San Antonio, TX housing market nine years ago have appreciated, on average, by $66,024. The national average was $16,435 over the same period.

Overall, home appreciation rates remain very competitive for San Antonio real estate — especially when compared to the national average. For investors looking for appreciation gains, San Antonio real estate continues to reflect a market that values long-term investment. That said, there are currently 2,359 properties in San Antonio in some stage of foreclosure. According to RealtyTrac, the number of San Antonio foreclosures in the month June was 12.6 percent higher than the previous month despite being 22 percent lower than the same time in 2015. In addition, the number of bank owned properties (REOs) increased 9.8 percent from the previous month while falling a whopping 45.3 percent from the same time last year.

San Antonio, TX: Real Estate Market Summary:

San Antonio real estate

  • Current Median Home Price: $195,500
  • 1-Year Appreciation Rate: 5.8%
  • 3-Year Appreciation Rate: 24.8%
  • Unemployment Rate: 3.7%
  • 1-Year Job Growth Rate: 2.8%
  • Population: 1,440,900
  • Median Household Income: $52,689

San Antonio, TX: Real Estate Market (2016) — Q1 Updates:

San Antonio real estate investors

Helping to drive the San Antonio real estate market is a combination of positive job growth, declining unemployment rates, and the overall improvement of the city’s economy. Using the National Association of Realtor’s State Economic Activity Index, the last 12 months has seen Texas grow at a rate of 2.5 percent compared to the national average of 3.1 percent. Looking at the last three years, however, reveals Texas’s economy is growing at a rate of 13.1 percent, compared to the national average of 10.5 percent.

Home affordability continues to be the staple of San Antonio’s real estate market. In the first quarter of 2016, homeowners paid 9.7 percent of their income to monthly mortgage payments — which is actually less than its historical average of 10.9 percent — while the national average paid 14.5 percent. San Antonio real estate continues to be more affordable than most regions across the country. The one concern for potential homeowners, however, is the city’s price-to-income ratio, which is high compared to historic standards and only getting worse. San Antonio investors and homeowners should also pay close attention to one important indicator: new housing construction. The current level of construction is 12.5 percent above the long-term average, which is relative to last year and suggests the local inventory is stabilizing. However, the number of single-family housing permits in Q1 was 2.1 percent, a significant decrease from the national average of 11.3 percent.

Moving forward, the National Association of Realtors forecasts weaker price growth for Texas in the next 12 months. Price expectations in the last 12 months have been equal to the national average of 3.9 percent, yet the first quarter of 2016 saw that expectation drop 0.2 percent, compared to the national average of 3.8 percent. That said, the San Antonio real estate market remains a haven for investors and homebuyers alike.

*The information contained herein was pulled from third party sites. Although this information was found from sources believed to be reliable, FortuneBuilders Inc. makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. Any reliance on this information is at your own risk. All information presented should be independently verified. FortuneBuilders Inc. assumes no liability for any damages whatsoever, including any direct, indirect, punitive, exemplary, incidental, special, or consequential damages arising out of or in any way connected with your use of the information presented.

🔒 Your information is secure and never shared. By subscribing, you agree to receive blog updates and relevant offers by email. You can unsubscribe at any time.