It’s hard to believe we’re midway through the year! Here’s a look at where San Antonio stands in terms of the current real estate and economic market:
Even with the significant rainfall slowing construction of new homes and commercial buildings, everywhere you go it’s easy to see the growth that’s taking place in the city, particularly downtown, with condos, apartments and hotels sprouting up faster than weeds.
According to the San Antonio Business Journal, the West side of SA is also seeing a lot of growth with mixed-use developments becoming the “new frontier.” Just last month, KFW Engineers & Surveying, a local civil engineering firm, announced they will be building a multimillion-dollar headquarters off of Loop 1604.
According to Zillow, the median home value in San Antonio is now $153,600, which means our home values have gone up 8.7% over the past year and predictions indicate they will rise another 2.8% within the next year. Already the median price of homes currently listed is $189,900.
Some may view this growth as a negative, particularly if you’re wanting to buy and miss the cheap rates of just a few years ago. However, you can also look at it as San Antonio is finally rising to its potential.
Bexar County added almost 5,000 new jobs last year with another 4,000 likely to be added by the end of this year. Forecasters are claiming the city’s “new energy economy” is responsible for this significant growth.
In particular, CPS Energy’s New Energy Economy Initiative has been a primary catalyst – they’ve brought in seven new companies into the Alamo city, which translates into 1,000 new jobs and an estimated income of more than $40 million.
If this kind of growth in the tech / energy industries continues, San Antonio will be put on the map for more than just the Spurs and River Walk. At Stone Creek Custom Homes, we’re excited to see the bar being raised and are more than ready to meet the challenge!
We believe there’s no better time to consider building a custom home than right now. For more information, please call us today at 210-494-5400.