Interesting Trends - San Antonio Area Million Dollar & Up Market

San Antonio luxury home sales have been on a yearly upward trend for at least the last 10 years. This is true again so far in 2016 but only in number of sales. The average San Antonio area million dollar homes sale price has declined slightly for the first time in many years. As we head toward the presidential election, it will be interesting to track these numbers.

Year over year, the number of San Antonio area home sales at or above $1 million has increased 10.5%.

The average San Antonio high end home sale over one million dollars this year was $1,425,402. That average home sale price is down 2% from 2015.

Interestingly, though there have been more million dollar and higher homes selling so far this year, a lower percentage of them have sold at or above $2 million than in 2015.

11010 Anaqua Springs in Boerne, Tx, Offered at $1,699,000

These statistics come directly from the San Antonio Board of Realtors Multiple Listing Service (MLS) numbers. It includes sales from January 1 - September 20, 2015 and January 1, 2016-September 20, 2016.

These include sales in Bexar, Kendall and Comal counties including Boerne, Alamo Heights, Terrell Hills, Olmos Park, Hill Country Village, New Braunsfels, Shavano Park and San Antonio.

For each year, I excluded properties that were clearly land sales, farm & ranch, lakefront or coastal properties. For the purpose of analyzing high end San Antonio area homes, I don't want luxury home sales in Port Aransas, Applehead Island, Horseshoe Bay, Lake Travis and more confusing the numbers.

Each year there are a few San Antonio million dollar homes that sell privately. They don't go through MLS. As Texas is the rare state that doesn't require home sales price disclosure, that information remains confidential. My experience is that the number of luxury homes that sell privately is not large. It's not an insignificant amount but it might be 5% of the upscale homes. Usually, the number each year remains consistent with the MLS market.

Here are the numbers:

Number of Sales at or Above $1 million:
Jan. 1, 2015 - Sept. 20, 2015: 76
Jan. 1, 2016 - Sept. 20, 2016: 84

Average Sale Price at or Above $1 million:
Jan. 1, 2015 - Sept. 20, 2015: $1,456,019
Jan. 1, 2016 - Sept. 20, 2016: $1,425,402

Cumulative Days on Market:
Jan. 1, 2015 - Sept. 20, 2015: 297
Jan. 1, 2016 - Sept. 20, 2016: 295

Sales at or above $2 million:
Jan. 1, 2015 - Sept. 20, 2015: 9 (11.8% of the market)
Jan. 1, 2016 - Sept. 20, 2016: 8 (9.5% of the market)

I'll update this at the start of 2017 to see if the 4th quarter numbers made any difference.

Questions? Contact me at (210) 386-1833, Jason@JasonGlast.com or go to my website at www.JasonGlast.com

Interesting Trends - San Antonio Area Million Dollar & Up Market

San Antonio luxury home sales have been on a yearly upward trend for at least the last 10 years. This is true again so far in 2016 but only in number of sales. The average San Antonio area million dollar homes sale price has declined slightly for the first time in many years. As we head toward the presidential election, it will be interesting to track these numbers.

Year over year, the number of San Antonio area home sales at or above $1 million has increased 10.5%.

The average San Antonio high end home sale over one million dollars this year was $1,425,402. That average home sale price is down 2% from 2015.

Interestingly, though there have been more million dollar and higher homes selling so far this year, a lower percentage of them have sold at or above $2 million than in 2015.

11010 Anaqua Springs in Boerne, Tx, Offered at $1,699,000

These statistics come directly from the San Antonio Board of Realtors Multiple Listing Service (MLS) numbers. It includes sales from January 1 - September 20, 2015 and January 1, 2016-September 20, 2016.

These include sales in Bexar, Kendall and Comal counties including Boerne, Alamo Heights, Terrell Hills, Olmos Park, Hill Country Village, New Braunsfels, Shavano Park and San Antonio.

For each year, I excluded properties that were clearly land sales, farm & ranch, lakefront or coastal properties. For the purpose of analyzing high end San Antonio area homes, I don't want luxury home sales in Port Aransas, Applehead Island, Horseshoe Bay, Lake Travis and more confusing the numbers.

Each year there are a few San Antonio million dollar homes that sell privately. They don't go through MLS. As Texas is the rare state that doesn't require home sales price disclosure, that information remains confidential. My experience is that the number of luxury homes that sell privately is not large. It's not an insignificant amount but it might be 5% of the upscale homes. Usually, the number each year remains consistent with the MLS market.

Here are the numbers:

Number of Sales at or Above $1 million:
Jan. 1, 2015 - Sept. 20, 2015: 76
Jan. 1, 2016 - Sept. 20, 2016: 84

Average Sale Price at or Above $1 million:
Jan. 1, 2015 - Sept. 20, 2015: $1,456,019
Jan. 1, 2016 - Sept. 20, 2016: $1,425,402

Cumulative Days on Market:
Jan. 1, 2015 - Sept. 20, 2015: 297
Jan. 1, 2016 - Sept. 20, 2016: 295

Sales at or above $2 million:
Jan. 1, 2015 - Sept. 20, 2015: 9 (11.8% of the market)
Jan. 1, 2016 - Sept. 20, 2016: 8 (9.5% of the market)

I'll update this at the start of 2017 to see if the 4th quarter numbers made any difference.

Questions? Contact me at (210) 386-1833, Jason@JasonGlast.com or go to my website at www.JasonGlast.com

The Week in San Antonio Luxury Real Estate

Here's what I found interesting in the San Antonio luxury real estate market in the past week.

Under contract:

Three homes in The Estates at Champions Run in Stone Oak are now in active option ranging from asking prices of $850,000 to $1,800,000 including George Mercado's (Crawford Luxury at Portfolio Real Estate) listing of 46 Champions Run. 

133 Thelma, a 7,000 sq ft plus home built in 1929 in Olmos Park listed by Greg Rubiola (South Texas Realty Services) offered at $2,399,000 went under contract.

324 Lilac in Terrell Hills, offered for $1,330,000 by Mary Carter (Kuper Sotheby's International Realty) went under contract after only six days on the market.

New on the Market:

Boerne remains hot...

Three homes in Cordillera Ranch hit the market for more than $2 million including Debra Janes' (Portfolio Real Estate) listing at 227 Sunriver offered at $2,295,000.

Boerne's gated Menger Springs neighborhood is very popular. Kevin Best (Portfolio Real Estate) just listed 611 Menger Springs, new construction by Garner Custom Homes, that will sit on nearly two acres.

For convenience, living inside 1604 is always in demand. After some time off the market to replace carpeting, my "Bali meets Miami" listing at 531 Berwick Town in Bentley Manor is back on the market at $1,599,000. 

531 Berwick Town in Bentley Manor

Price Change:

I think Castle Hills, with it's convenient inside the loop location, huge trees and sizable lots, might be the next big thing. Fox Hall Lane has always been a crown jewel of the area. Carole Tubessing (Phyllis Browning Company) is now offering 115 Fox Hall Lane on 2.64 acres for $1,175,000.

Pending Sale:

403 Rio Cordillera in Boerne's Cordillera Ranch, offered by Patti Nelson (Portfolio Real Estate) at $1,999,000 is one of two homes pending sale in the neighborhood. 

Located inside 1604 with acreage lots, Hill Country Village is near the top of any list of hot luxury addresses. Three homes are pending sale at asking prices above $1,200,000 including 401 Tower Dr. offered by Amber Sahadi (Phyllis Browning Company) for $1,249,000. 

The Dominion has always had a notable celebrity cache to go with its rolling hills and nice country club. My listing at 21 Devon Wood, offered at $1,100,000, is now pending sale. 

21 Devon Wood in The Dominion is Pending Sale

Shavano Park, located inside 1604 with large lots, is very popular with luxury buyers today. Two new construction homes offered by Pam Burdick (Burdick Custom Homes) in Huntington are pending sale with asking prices of $1,985,000 and $2,125,000 and 126 Box Oak, offered at $985,000 in Shavano Creek by Charles Mazinter (Showcase Realty), is pending as well.

Sold this week:

Kevin Crawford (Portfolio Real Estate) sold his listing - offered at $1,150,000 - at 202 Blackjack Oak in Shavano Creek this week. 

Jason Glast, Realtor/Attorney (Portfolio Real Estate) has been a top producing luxury real estate specialist in the San Antonio area since 2003. In 2016, Jason Glast Luxury (Glast and Elizabeth Priest) was awarded Top Luxury Real Estate Team by the San Antonio Business Journal. Visit the Jason Glast Luxury Website