The sale of luxury homes — those priced at $1 million and more — was up in San Antonio 26 percent the first 10 months of 2014 compared with the same period in 2013, according to a study released Monday by the Texas Association of Realtors.
However, the total number of home sales — 107 — pale in comparison to Texas’ other major cities: Houston (1,194), Dallas-Fort Worth (926) and Austin (479).
“Some of that is the offset of San Antonio feeling some of the effects of the Eagle Ford Shale — some of the riches — some of the people who made money down in the oil field,” said Jim Gaines, research economist at Texas A&M University’s Real Estate Center, which compiled the report’s data. “Some of it’s general prosperity. … It’s also tied to low interest rates. Even for jumbo mortgages, the rate was more or less (the same as) conventional rates if not a little bit lower.”