San Antonio’s housing market has historically remained a solid, reasonable investment, adding a few percentage points of growth each year. Since 2020, that slow-but-steady reputation has shifted, thanks to record-low interest rates and a pandemic-fueled change in how Americans live. In February 2022, the most recent numbers available from the San Antonio Board of Realtors (SABOR), the average price of a single-family home hit $361,889, a 16 percent increase year over year. At $314,000 San Antonio’s median home price saw an even bigger leap, jumping 20 percent over 2021.
While still on an upward trajectory, San Antonio remains among the most affordable of Texas’ biggest cities, and experts say they expect the rollicking incline to begin to stabilize. For those looking to buy a house in the Alamo City, local experts agree that it’s still a great investment with a variety of price points available across the city.
“We are a steady, stable, safe market for investors. We don’t see the highs that Austin and Phoenix see, but we also don’t see the lows,” says Alexis Weigand, an associate broker and CEO and founder of the Alexis Weigand Real Estate Group and an international business coach with Keller Williams. “If you’re looking for a long-term return, no different than the stock market, it’s the long play.”
With interest rates still low — though predicted to rise throughout the year — and San Antonio on the top of nearly every real estate authority’s list of hottest markets for 2022, it’s likely many more home buyers will make the long play and bet on the Alamo City.
As more people discover San Antonio, Keri Neff, a realtor with Coldwell Banker D’Ann Harper, REALTORS, hopes they also make an investment in their community as well as their property.
“This is a diverse and vibrant city worth investing in. Investing is not only financial. Investing in your community in San Antonio is a culture here that I hope never changes,” Neff says. “With home prices rising along with interests rates, I fear that many long time and lifelong residents are not able to find a pathway to investing back into their communities.”
Now that the spring selling season in full bloom, we tapped three local realtors for their insight on some of the city’s hottest neighborhoods for 2022, from affordable finds with good schools to small-town communities with top amenities.
Students in Dignowity Hill attend schools in the San Antonio Independent School District.
San Antonio Board of RealtorsEast Side: Price points for (almost) everybody
San Antonio’s East Side is vast, stretching from I-37 to the west all the way to 410. It encompasses neighborhoods like Dignowity Hill and Denver Heights, adjacent to downtown, as well as the far East Side and Eastwood Village. Because it’s so large, there are deals to be had in this side of the city.
“It’s a mix of investors and people buying homes to do Airbnb and those who want to live there. It’s also a hip area,” says Silvia Alcaraz, a Realtor with Premier Realty Group.
Homes in this swath of the city are as wide-ranging as the properties you’re likely to find. In Dignowity Hill, for example, potential buyers will currently find homes ranging from the high-200s to low-700s. As you head further east from the city center, those prices tend to drop. In the Harvard Place and Jefferson Heights neighborhoods, homes sit between the mid-100s to low-300s.
Fair Oaks Ranch: High-end amenities and community feel
For Boerne-born Weigand, San Antonio’s northern suburbs are an ideal place to raise a family. Fair Oaks Ranch is located off I-10, situated between Camp Bullis and Boerne, and anchored by the Fair Oaks Ranch Golf & Country Club, which Weigand describes as both inclusive and affordable when compared to nearby clubs.
“When you look at schools, it’s a family-oriented area with an affordable country club. The mixture of those things make it hot.”
The realtor also notes buyers are drawn to Fair Oaks Ranch because it offers a variety of prices and lot sizes, ranging from new construction to five-acre properties capable of housing horses. The community is also shedding its retirement rep as more families relocate to the area, Weigand adds.
“You still have a good bit of retire[ed people], but now that they’re upgrading and elevating the parks, [Fair Oaks Ranch] has attracted a lot of younger age ranges,” she says, later adding: “I call it the Fair Oaks shuffle.”
Prices in this northern hub currently range from the high-500s to the high-800s.
King William continues to be a popular choice, especially for young families. Here iis the historic Chabot House, which was built in 1876.
René Guzman /StaffLavaca & King William: For the next PTA president
These perennial favorites return to the list thanks to the continued reputation of the neighborhoods’ schools. Located south of downtown, these two adjacent districts are south of Cesar Chavez Street, with King William to the west, Lavaca to the east, and St. Mary’s Street running down the middle.
“The parents are very involved, so they like the schools around there,” says Alcaraz, who also notes that the neighborhoods are part of the SAISD and have academies as well as bilingual preschools.
Home is these neighborhood are eclectic, with quaint bungalows often just a block or two away from the stately Victorians that draw tourists to King William. With that variety also comes a wide variety of pricing. According to Zillow’s April 6 Market Report, prices in 78210, the ZIP code that incorporates King William and Lavaca, as well as Southtown, Denver Heights and Highland Park, is forecast to rise 18.5 percent in the next year.
South San Antonio: Surprise gems for those on a budget
Neff always asks clients with a budget under $250,000 to be flexible in their search, but says there are still opportunities for those with a tighter budget.
“A move-in ready home in this price range anywhere in San Antonio will result in stiff competition from investors with cash and multiple offer situations. That said, there are some absolute hidden gems going south on 35 and 37,” Neff says. “Most clients are surprised how much new construction is going on south of downtown, like near Mitchell Lake for example. You will find the same floor plans and amenities as in other areas but with less competition.”
Bandera: For those who need a new adventure
The pandemic changed everything, including how many of us work. A resulting trend in real estate is home buyers decamping for smaller towns around San Antonio. Bandera is just one of the many hamlets local real estate agents identified as Hill Country hot spots.
Located about 55 miles northwest of the Alamo City on State Highway 16, Bandera offers residents a low-key lifestyle while also giving them easy access to San Antonio’s West Side and North Side.
“There is a trend of many people who have been able to permanently shift to work from home jobs wanting land and moving out towards Bandera in areas like Bridle Gate and up 281 North, where taxes are lower for now,” Neff says. “Land sales are just as hot as home sales in most cases.”
Land sales of course come with their own challenges, (we wrote about some of them in an earlier Hill Country article), but the mixture of both types of property make it an ideal spot for buyers who want to explore all their options.
Downtown Boerne. Boerne continues to be a popular choice for homeowners – and its prices reflect its popularity.
Courtesy of the city of BoerneBoerne: European lifestyle deep in the heart of Texas
For those looking for walkability and the small-town charm, Boerne continues to lure perspective home buyers beyond the city limits. Located 30 miles from downtown San Antonio (and mere minutes from the city’s northernmost suburbs), Boerne offers the Hill Country lifestyle some people crave with the cafes, shopping, and community that urbanites desire.
“Right now we’re moving a lot of people into the Boerne … to have more of a European lifestyle,” says Weigand. “If I want to go walk, be out and be social, they have that capability in Boerne.”
The town offers a mix of housing options, from century-old bungalows to new developments with high-end amenities, broadening its appeal even further. Boerne’s small-town charm doesn’t necessarily come with small-town prices. Homes are currently available from the mid-300s to well into the seven figures.
