Like all of Texas, San Antonio does it big. Home to the famous Alamo and the San Antonio Spurs of the National Basketball Association, the city offers a rich mix of Mexican-American cultures as well as a variety of warm-weather lifestyles for active young adults and more mature retirees. Additionally, San Antonio currently enjoys a much more stable real estate market than most other parts of the country. The state may not have the great appreciation that the markets on the East and West Coast are experiencing, but on the other hand, they have not seen declines of 20% or more in the last year as these other markets have.
Due to the growth of the San Antonio job market, which is currently one of the strongest in the country, the local economy remains stable. The influx of businesses and industries like Toyota’s Tundra truck plant, Microsoft, Rackspace and the National Security Agency Satellite Center, and the construction of TPC San Antonio Golf Resort have helped create a host of good-paying jobs. . Also, last January, construction began on the Fort Sam Houston military installation on a $2 billion project that is expected to add approximately 10,000-12,000 jobs over the next four years.
Without a doubt, San Antonio is proving to be a hidden gem in the real estate market as it is actually thriving and continues to grow while other sectors of the nation lag behind. But there are a number of other factors that make San Antonio stand out. For example, the city has a low risk of damage from tornadoes and hurricanes compared to the rest of the state. However, it is close enough to the coast that in a few hours you can be sunbathing on the beaches of Corpus Christi. Add to this the median home cost of $150,800 (2007) and San Antonio is a strong contender for an affordable and fun place to live.
Several new communities are springing up on the outskirts of San Antonio. For example, just twenty minutes from downtown, Cross Mountain offers two-acre ranch subdivisions for quiet, open country living and fantastic views of the surrounding foothills. Prices range from $250,000 to $875,000. Some slightly older homes can be found in Oak Hollow Estates with prices ranging from $130,000 to $225,000, as well as Colonies North, a well-established community of older homes, which have always held their value. The price range for these homes is generally $80,000 to $145,000, and sales remain strong.
There is certainly no shortage of affordable housing available in the San Antonio area and with the diversity of communities in and around the city, there are excellent options available to real estate buyers and sellers alike. Safe locations, quality school districts, many great amenities, and top community recreation facilities with lots of green spaces all combine to make San Antonio one of the best real estate markets to buy or sell a home.