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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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San Antonio’s luxury real estate market sees surge

The cheap housing that San Antonio is known for is becoming harder to find. But as the real estate market continues to rebound, more luxury homes are being built and selling in the Alamo City.

In 2009, houses priced less than $150,000 made up about one-third of homes being built in San Antonio, according to data from real-estate research firm Metrostudy. Last year, the construction of homes at that price point fell by more than half as 840 houses were built, accounting for about 10 percent of the annual starts.

On the costlier end of the spectrum, construction of high-end homes about doubled over the past five years. During that period, homes priced from $300,000 to $500,000 went from 10 percent of the market share to 21 percent. Last year, 1,751 homes at that price point were built, which is the second-most for any price range in the city.

Stepping up a notch, property priced at more than $500,000 grew from 4 percent of the market to roughly 7 percent during the same period, which translates to 550 homes built last year.

Click to read entire article: San Antonio’s luxury real estate market sees surge (San Antonio Express-News, 1-10-14)

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