It never ceases to amaze me how often San Antonio is over looked by real estate investors on a national and state level. Institutional funds and TV shows tend to focus on markets such as Phoenix, Las Vegas, Las Angeles, Dallas, and Houston but what about good ol' San Anton? Let's take a look at some surprising real estate factoids:
- According to some sources the greater San Antonio area has more than two million residents
- San Antonio is the seventh largest city in the country
- There were only 52 recorded sales of houses over one million dollars
- Texas has 4 of the bottom 10 lowest credit scores per city
- San Antonio currently has seven homevestors franchises. Dallas/Ft. Worth has over fifty
- For "flippers" San Antonio consistently shows 6-10% more equity in properties than similar properties in Dallas and Houston
- San Antonio
- According to dozens of articles San Antonio consistently ranks as one of the fastest growing markets.
- San Antonio also continuously shows some of the highest rental rates per purchase price of property (Cap rates)
- Texas is widely viewed as the easiest state in America to foreclose on a home (average time of 45 days)
- The city is also widely viewed as one of the most stable markets nation wide
- The average sale price for all houses in San Antonio in 2014 was $209,534 whereas the median was closer to $165,000.
- Average rental rates for Greater San Antonio were around $1,195 (Zillow)
- The actual sale price of all houses was 82% of the original listed price in 2014
- Average DOM for the entire city was 84 with the median around 70.
- San Antonio also ranks as one of the third most financially irresponsible cities
I'm always curious why the city doesn't get more attention and seems to fly under the radar of the big national markets. I always here that "San Antonio has always been 20 years behind Dallas and Houston in regards to real estate development." Given that we know how those markets have turned out I encourage every investor to take another look at the home of the Alamo.