It seems that the 2018 San Antonio real estate market forecast can be summed up in one word: growth. Real estate professionals and economists came together for the annual San Antonio Board of Realtors 2018 Housing Forecast event in early January, and the industry elite that were present were buzzing with the potential for the new year. 

Throughout 2017, the real estate market shattered records and continued to perform well, despite challenges with low inventory levels. Now, it seems, that 2018 stands to be an even more remarkable year. So what do potential buyers and sellers need to know? Well, local real estate agent Liz Petroff was in attendance, and brought back all of the most vital information for her clients.

2017: A Record-Breaking Year for San Antonio Real Estate

When it comes to summing up the 2017 real estate market in San Antonio, successful is an understatement. The numbers don't lie — this was a record-setting year for the local real estate industry. Here's a round-up of the market statistic data released by the San Antonio Board of Realtors:

• More than 30,000 homes were sold in 2017, representing a 4 percent year-over-year increase.

• The average home price in 2017 was just over $250,000, which also was a 4 percent year-over-year increase.

• The median home price in 2017 was about $214,000, which was a 5 percent year-over-year increase.

A home that was listed on the market in San Antonio throughout the last year was destined to sell in a matter of moments, regardless of its size or price point. However, it was the luxury homes that were in the most demand. According to the Texas Association of Realtors, luxury homes sales in the state increased by more than 19 percent, generating more than $7.5 billion in sales. This trend was recognized locally as well as statewide, with San Antonio itself seeing an 18.6 percent increase in luxury sales throughout 2017. 

Texas luxury home sales volume jumps...up 18.6 percent (172 home sales) in San Antonio - https://t.co/rDDtNoEFVf pic.twitter.com/WC026vFjvs

— Liz Petroff ???? (@RealLizPetroff) December 14, 2017

2018: Continued Economic Growth, New Housing will Fuel the Local Market

All experts seem to be in agreement that the stars have aligned and that 2018 looks to be another fantastic year for the local real estate market. One of the largest driving forces behind the thriving real estate market is the growing economy. The San Antonio area is a hotbed for new jobs, and not just any jobs. According to KSAT12, job growth in the region is specifically focused within several pivotal sectors, including technology and cybersecurity. Texas Economist Mark Dotzour explained that nationwide, people are living large metropolitan regions with high costs of living in search of places like San Antonio, where there's high-paying job opportunities as well as affordable living options. 

Dotzour: Los Angeles-Long Beach and New York-Newark have seen the most migration out of their markets due to higher costs of living, tax burdens, etc. Markets like San Antonio become attractive as affordable options with amazing job growth. @SABoardREALTORS #HF18 ^DR

— Liz Petroff ???? (@RealLizPetroff) January 4, 2018

Yun: Job growth in San Antonio - 49% vs. 11% nationwide...references @henrygcisneros remarks regarding our job growth. @SABoardREALTORS #HF18 ^DR

— Liz Petroff ???? (@RealLizPetroff) January 4, 2018

While the potential for continued job growth and a strengthening real estate market is exciting, real estate experts still have some concerns about the coming year. Rising prices may keep some from participating in the market, high property taxes can deter the expected growth and housing inventory levels are anticipated to remain low. 

These challenges can't be ignored, but the reality is San Antonio continues to rank as one of the best places to live across the country. As people begin to take notice that it's one of the best places to visit, and has one of the fastest-growing economies in the country, the city will surely end up in the national spotlight this year. 

Yun: Survey of consumers...80% say they want to own a home, >80% assert they will buy in the future. @SABoardREALTORS #HF18 ^DR

— Liz Petroff ???? (@RealLizPetroff) January 4, 2018

Take Action Today: Find a Committed, Experienced Local Realtor

Liz Petroff is the San Antonio real estate agent that can provide you with the results that you need. Not only does she have experience working with buyers and sellers throughout the community, but she also is committed to professional development by utilizing accurate data to drive results. She is the most informed as well as the most approachable local agent, so there's no question as to who is the best choice for your real estate journey in 2018. To have a customized market report delivered directly to you, contact Liz Petroff today.

For the community of San Antonio, 2016 was a year of growth and development. New residents are flocking to the city in droves, enamored by the possibility of jobs and a strong economy amidst a welcoming, family-friendly city. However, housing inventory is down at the same time that demand is high — which is driving up home prices. This is good news for home sellers, but intimidating news for those who are hoping to buy a home in San Antonio. So, this begs the question, what does 2017 have in store for the San Antonio housing market? 

2016 Year in Review

Throughout the calendar year of 2016, the San Antonio housing market experienced desperately low inventory rates. According to retired Texas economist Mark Dotzour, there should be about 6.5 months of inventory, but San Antonio consistently had about 3 months worth of inventory on the market. Simultaneously, a rising demand for homes could not be met by developers, who face hurdles with local regulations when it comes to building new subdivisions and planned communities in the area.

SABOR's keynote speaker Dr. Mark Dotzour, Real Estate Economist, just took the stage at #HF17! #SABOR #RealtorLife pic.twitter.com/iK5n65xZcj

— SABoard of REALTORS® (@SABoardREALTORS) January 5, 2017

Despite these challenges, the housing market was still in a boom year, and the number of sales continued to increase. In fact, according to the San Antonio Board of Realtors, there were 400 more sales in November 2016 than there were in November 2015. In addition, home values continued to rise and sales prices increased significantly throughout the year. 

San Antonio 2017 Housing Market Forecast

On the heels of 2016, the 2017 housing market in San Antonio is expected to remain competitive, and it is predicted that home prices will continue to rise. Dotzour notes that this is excellent news for those who are looking to sell their homes, and his comments are in line with predictions from Trulia, which ranked San Antonio as the 8th hottest real estate market to watch in 2017.

While the market seems to be ideal for sellers, 2017 also holds promise for home buyers who want to purchase real estate in the San Antonio area. Dotzour reminds buyers that they don't need to be discouraged or intimidated by rising mortgage rates. While these rates are on the rise, they are still historically low. The market can expect an influx of buyers this year, as KENS5 Eyewitness News notes that out-of-state buyers have their sights set on San Antonio.

Dotzour: Over 5 million job openings as of December 2016. Total net worth of America is $90 trillion. Consumer Confidence Index is up. #HF17

— Liz Petroff (@RealLizPetroff) January 5, 2017

"Texas ranked second among states for inflow of U.S. residents in 2015, with 553,032 people moving to the state." https://t.co/F8XOW3sQrx

— SABoard of REALTORS® (@SABoardREALTORS) January 6, 2017

Next Step: Focus on Finding an Experienced Real Estate Agent

As you look toward your goals for 2017, consider your real estate dreams and ambitions. Perhaps this is the year that you upgrade to your dream property, or maybe it's the year that you sell in order to downsize for your retirement. Regardless of your goals, it's critical to have the right real estate agent on your side. Liz Petroff is a dedicated agent who takes pride in her local knowledge and expertise. With a focus on the San Antonio market and an emphasis on personalizing the real estate process, she is able to provide you with the relevant and accurate information that you need to finalize your real estate decisions.

@RealLizPetroff thx for being an incredible champion for our city! @SanAntonioEDF @SABoardREALTORS #HF17 https://t.co/tjBrJ09o41

— Jenna SaucedoHerrera (@JLeighSaucedo) January 5, 2017

Liz Petroff is a dynamic real estate agent who works for all types of buyers and sellers. Whether you are a first-time home buyer looking to invest in the valuable San Antonio real estate market and want the competitive edge in this seller's market, or you are a home seller who wants to take advantage of the rising home prices, Liz is the agent that you want on your side. To find out the latest information about the current market conditions in San Antonio and to receive a customized market report, contact Liz Petroff today.

According to Realtor.com®, San Antonio's 78247 zip code was ranked #5 on its list of the Top 10 Zip Codes in America. Last year, the 78247 zip was #6 on Realtor.com® list.

According to the report, millenials make up 36% of mortgages in this zip code. Other Texas Zip Codes in the Top 10 include 75495 in Van Alstyne (#47) and 76148 in Watauga, a suburb of Fort Worth, which ranked #1 on this year's list.

2016 Market Statistics for Zip Code 78247

Based on sold data from the MLS, between January 1, 2016 and August 31, 2016...

• A total of 566 single-family detached homes were sold

• Of those transactions, 4.4% of the homes sold above San Antonio's August 2016 Average Home Price of $246,515

• Average home price in the 78247 zip code was $181,798

• Homes stayed on the market an average of 40 days

More on realtor.com's methodology can be found on the Realtor.com website.

78247 Homes For Sale

You can find every active MLS listing available in the 78247 zip code on SanAntonioTXForSale.com. Some of the San Antonio subdivisions in zip code 78247 include Redland Oaks, Longs Creek, Steubing Ranch, Green Spring Valley, and Preston Hollow.

New listings and price changes are updated regularly throughout the day. You can view photos, maps, school and other information vital to your home search. Sign up for updates on new listings and price changes.

Search 78247 Homes For Sale

Find Homes For Sale by Zip Code

Total home sales in the San Antonio area posted the second highest number of sales so far during 2016 with 2,900 homes sold during the month of August 2016. This was also a 13% increase compared to last August. “July ended with over 2,400 transactions still pending which created a boost in our August sales,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board.

Median home price remained virtually unchanged from July at $211,800, but was above the $200,000 mark for the fourth month in a row. To date, over 1,200 more homes have been sold than the same time last year.

The San Antonio Board of REALTORS® (SABOR) reported 3.8 months of inventory in August, which still characterizes a seller's market. In January of this year during the 2016 Housing Forecast, Texas economist Dr. Mark Dotzour reminded us that 6.5 months of inventory represents a balanced housing market. Accoridng to SABOR, the last time the San Antonio housing market saw at least six months of inventory was in November 2012. Dotzour also suggested that more job growth, low interest rates, and increasing home prices suggest San Antonio housing is in good shape for 2016.

There are many reasons why companies should consider locating or expanding in San Antonio. Former Brooks Air... https://t.co/cDNbPBijqj

— San Antonio EDF (@SanAntonioEDF) September 13, 2016

About Liz Petroff

Whether you're buying or selling a home in a this market, it is important to be prepared. Liz is available via email or by phone at (210) 464-8100. Liz has helped many buyers and sellers – first-time, relocating, downsizing – through every aspect of the transaction from financing, to property search and valuation, navigating contracts, and negotiating in your best interest.

August 2016 San Antonio Market Statistics, San Antonio Board of REALTORS®

For the first time since May 2014, total home sales in the San Antonio area declined compared to the same period the prior year. The 2,850 homes sold during the month of July 2016 was a 2% decrease verses July 2015 total home sales. Despite the decline in sales, the median home price was above the $200,000 mark for the third month in a row at $211,900. Just over 50% of the homes sold in July were priced between $200,000 and $499,999.

The San Antonio Board of REALTORS® (SABOR) reported 3.9 months of inventory, which still characterizes a seller's market. In January of this year during the 2016 Housing Forecast, Texas economist Dr. Mark Dotzour reminded us that 6.5 months of inventory represents a balanced housing market. The last time the San Antonio housing market saw at least six months of inventory was in November 2012 according to SABOR's press release. Dotzour also suggested that more job growth, low interest rates, and increasing home prices suggest San Antonio housing is in good shape for 2016.

The 30-year fixed #mortgage rate has been below 3.5% 7 straight weeks, every week since the week of June 30 pic.twitter.com/lHOzvxuNJs

— Leonard Kiefer (@lenkiefer) August 13, 2016

“The San Antonio area continues to be one of the most affordable markets in Texas,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board. “For example, the median sales price of a home in Bexar County in July was $200,000 while the median was $335,000 in nearby Travis County and $219,250 in Harris County.”

About Liz Petroff

Whether you're buying or selling a home in a this market, it is important to be prepared. Liz is available via email or by phone at (210) 464-8100. Liz has helped many buyers and sellers – first-time, relocating, downsizing – through every aspect of the transaction from financing, to property search and valuation, navigating contracts, and negotiating in your best interest.

July 2016 San Antonio Market Statistics, San Antonio Board of REALTORS®

The summer home buying season is here! The 2,807 total home sales in the San Antonio area was an increase of just over 13% from April 2016 to May 2016...a 10% increase as compared to the same period last year. No surprise given the population growth of the San Antonio metropolitan area from July 2014 to July 2015, which was 51,285. That's about 141 people per day moving to the San Antonio metropolitan area making New Braunfels the second fastest-growing city in the U.S.

The San Antonio Board of REALTORS® (SABOR) reported the average price of single family homes in May 2016 was $249,024, a 2% increase over the same period last year. That is still below the state’s average price of $271,213 making San Antonio one of the the most affordable markets in the United States.

In the San Antonio area, homes priced under $200,000 made up 46.9% of the homes sold in May. Homes priced between $200,000 and $500,000 accounted for 47.6% of the homes sold and homes priced over $500,000 made up 5.5% of the market. The largest share of homes last month were priced between $200,000 and $250,000, which made up 18% of the market. A total of 15 homes sold were priced over one million dollars.

May 2016 San Antonio Market Statistics, San Antonio Board of REALTORS®

About Liz Petroff

Liz Petroff is a full-time, dedicated real estate professional. Liz has helped many buyers and sellers – first-time, relocating, downsizing – through every aspect of the transaction from financing, to property search and valuation, navigating contracts, and negotiating in your best interest. Contact Liz with your real estate questions.

May 7 & 8 and 14 & 15 — 11:00 am til 6:00 pm

The Spring Tour of Homes is put on each year by The Greater San Antonio Builders Association (GSABA). Some of these communities were previous Parade of Homes locations. The tour provides an opportunity to get ideas for your own home, and to see what our area builders are building. For more information call GSABA at (210) 696-3800

Here's what you need to know

• Admission is FREE!
• 2016's Key Communities include Balcones Creek, Bentley Manor, Canyons at Scenic Loop, Cibolo Canyons, Copper Ridge, Cresta Bella, Eden Crossing, Elkhorn Ridge, Esperanza, Fronterra at Westpointe, Front Gate at Fair Oaks Ranch, Hidden Canyon, Huntington at Shavano Park, Johnson Ranch, Kinder Ranch, Ladera, Menger Springs, Rogers Ranch, Shavano Highlands, Setterfield Estates, The Heights at Two Creeks, and Willis Ranch
• Most of the homes in the Key Communities include a Spring Tour of Homes Guide, featuring renderings, pictures or floor plans of various models and homes for sale.

Where are the homes located?