San Antonio's Rockstar Turned Realtor®

San Antonio 78260

Although prices have flattened out a bit recently, there was an upward price trend in 78260 for the second half of the year.  Inventory remains high at 429.31 homes, so it's going to take awhile to clear it out and because of that, I don't see any major gains in appreciation in the short term.  Expect this area to bounce back and forth between small gains and losses over the next year as we try to draw down the inventory numbers to more sensible levels.  This was another area whose future looked amazing until builders went wild and the traffic issues of 281 finally caught up with the population explosion in the area.  Look for good prices on builder inventory in this area of San Antonio as builders try to clear their personal inventories, so they can continue building new homes.

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San Antonio 78259

New homes being built at a sensible pace, plenty of land for expansion, and the gently rolling hills of the edge of the Hill Country define the real estate market in 78259.  I fear this area will eventually end up a bit more like Stone Oak, but for now, that is nothing more than my own speculation and I don't think it will happen for many years to come.  Overall 78259 is performing much like it should based on the laws of supply and demand.  Sales are a bit sluggish in the area, but a dent is being created in inventory and slowly prices have begun to rise.  Some better roadways through the area might improve it's growth, but for now I'd prefer to see slow growth in the area.

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San Antonio 78258

The Stone Oak area (78258) has had more trouble than most over the last year.  Overbuilding combined with the nightmare that is 281, has allowed this once heralded area of San Antonio to become a little less desirable.  Don't get me wrong, plenty of people still love the area, but it isn't talked about in the same revered tones it once was.  Median home prices are down over $30,000 since January 2008 and although there is a current trend upwards, this area has quite a way to climb to reach its previous peaks.  Inventory may look low on the chart below, but note it is sitting at 570.23 right now - much higher than most zip codes.  As plans to cure the problems of 281 start to come together, look for this neighborhood to come back into favor with San Antonio residents.  It's a gorgeous area with a wide range of different style and priced homes, so it should remain popular as long as they can control overcrowding and traffic.  If you're looking to buy in Stone Oak, now might be a good time to start considering it as prices, despite their recent gains, are still much lower than they were almost two years ago.

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San Antonio 78255

If you were hoping to see a decent price increase, look no further than 78255.  Unfortunately, that price increase also comes with a rise in inventory.  With a 70 home increase since August (about 35%), homes are hitting the shelves quicker than they are flying off.  Once again, the higher priced home market (just about anything above $200,000) is slow to move as buyers watch prices and are looking for deals.  Since there is also a lot of new construction in the area, consider this a trend that will stay for awhile.  This price increase is probably being caused by two things; new homes being built and older homes going on the market above market value - all pushing prices higher as builders and homeowners saw the late spring/early summer as a "hot market" and more wanted to take advantage of that fact.  I suspect we'll see a slowdown through the winter months that will adjust prices downward as inventory increases.

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San Antonio 78254

Yet another hot area for builders looking for new areas of town to develop, 78254 faces similar problems to 78251 in that builders rushed to the area, but when the bottom fell out, they were left holding the bag.  Add to this a traffic snarl with this side of the 1604 and you have an area that's destined for greatness, but is now facing some of the holdups that the Stone Oak area has experienced.  If homes continue to come on the market at or nearly at the same rate as they are being bought, expect to see the downward price trend continue.  If builders can fill up some of their inventory homes and re-sale home listings slow, I would expect the prices to level off.  Although this area is experiencing a bit of a slump, I suspect it will continue to be a hot area for growth in San Antonio.

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San Antonio 78251

This zip code, being on the west/northwest side of town is again affect by its proximity to Lackland Air Force Base and that section of the city's fast growth.  Builders flocked to this area and began building in earnest, but as things slowed, many builders were left with large developments with population growth that wasn't matching their building speed.  In order to compensate, builders began slashing prices and dragging re-sale home prices down with them.  Unfortunately, many people bought these homes at the height of the boom cycle and are now sitting on homes that are hard to sell or worse yet, worth less than they paid for them.  As sales pick up, expect this to normalize, as long as builders don't jump the gun and begin a flurry of construction again.

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San Antonio 78250

If you look at the long term picture, 78250 has been quite stable.  Although we have seen some price increases as inventory has declined, the increases have been relatively minimal.  Through the course of 2009 prices in the area have floated up and down, but overall are sticking to the mid-120s.  Homes here have been selling well and this price range has been hot throughout San Antonio since summer.  Days on market is still hovering around 5 months and will take a few more months of quicker sales to truly balance out (law of averages).  Overall, 78250 offers well priced homes and a good amount of inventory to choose from.

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San Antonio 78248

Prices have been seeing a slow and steady increase since early summer after taking a fall during the spring of 2009.  At the same time however, inventory has been on the rise as well, keeping the appreciation from hitting too high too fast.  With a wealth of above-average priced homes, 78248 will probably not see any drastic price increases, but continue a slow and steady growth unless inventory levels start a sharp incline.  Days on market is still hovering around the 5 month mark.  If you're looking to sell your home in the 78248 area, you'll need to be sure your home is in top shape in order to compete with the other homes on the market.  If you're looking to buy, homes are still well priced and with the increase in inventory, your bargaining position should remain quite favorable.

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San Antonio 78245

Throwing supply and demand out the window, 78245 bucks the trends of inventory and price being inversely related and continues a steady decline in both categories.  Because of it's proximity to Lackland Air Force Base, this area saw a lot of new construction growth and as the market slowed, so did the builders.  With the builders looking to continue their developments in the area, they often were willing to slash prices, bringing overall values down.  As well, they stopped building new homes for awhile - so as people bought the now-discounted homes, the inventory levels continued to decline.  Recent signs suggest prices might be getting better, but I wouldn't say they're on the rise just yet.

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San Antonio 78231

Now that the summer buying season is over, it looks like things in 78231 have returned to their past ways.  Prices have seen a slight decline as inventory levels have risen once again.  Because of it's overall median price, these homes are sticking around awhile longer than other areas of the city, so it's easy to see why the summer season put a dent into the inventory, but not enough to cause a serious change in the overall market.  Here in San Antonio (in general) homes above $200,000 are slower to move this year as people are being more cautious after the buying frenzy that lead up to the housing market decline we've been going through.

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