The mood was celebratory at the San Antonio Board of Realtors’ annual housing forecast, where more than 600 real estate industry members gathered this morning at the Omni Hotel at the Colonnade.
Panelists and speakers reported the San Antonio housing market had one of its best years yet.
“A lot of Realtors probably saw multiple offers on their homes, the days on the market continued to drop, and every one of our areas is doing really great in sales,” said Mary Ann Jeffers, SABOR‘s 2015 chairman.
Jeffers gave a presentation that showed San Antonio homes continue to appreciate. Home sales for properties valued at less than $200,000 declined in 2014, yet the number of homes sold worth more than $200,00 shot up. Between January to November of 2014, 8,609 homes valued between $200,000 and $499,999 were sold. That compares to 7,388 homes sold in the same price range in the same time period in 2013.
Several San Antonio neighborhoods saw the benefits of that overall increase as the price per square foot grew more expensive. Those neighborhoods include Alamo Heights, Deerfield, Heritage Park, Hollywood Park, Olmos Park and Rogers Ranch, among others.
Meanwhile, the demand for apartments continues to increase. San Antonio is expected to add more than 9,000 multifamily units in 2015. With San Antonio’s vacancy rate at 9 percent, those units are expected to be absorbed, but perhaps at higher prices as rents continue to climb.
By: Stephanie Guzman