Tracie Hasslocher, Licensed Real Estate Broker
2022 Residential Real Estate Outlook in San Antonio
By Blithe Wiley
In 2021, San Antonio’s residential real estate market continued to climb, with tight inventory, rising demand, low interest rates, and increasing numbers of people shifting to a work-from-home lifestyle. The pandemic did not slow down the local market as home sales continued at a brisk pace all year, and demand continued to outpace supply. The San Antonio real estate market is predicted to outperform other Texas cities in 2022, with home prices predicted to rise by 3.5% this year. This is more than both Austin (3 percent) and Houston (2.4 percent).
The Outlook for San Antonio Residential Buyers
According to Tracie Hasslocher, current president of the San Antonio Board of REALTORS® and owner of Hasslocher Boutique Realty, LLC, current residential real estate housing forecasts indicate the market will continue to stay competitive.
“San Antonio home buyers need to be prepared to make an offer quickly,” she said. “It’s important to know what you want and have preapproval from your lender or have cash. You also need to be prepared to compete with other buyers and stay in constant communication with your REALTOR®.”
Hasslocher noted that the home-buying environment will most likely stay the same until home builders are able to catch up with the current demand for homes. With interest rates expected to rise somewhat in 2022, some buyers may find they have a little less buying power.
“For example, someone’s purchasing budget may go from $300,000 to $290,000. It may make a slight difference for them.”
The Outlook for San Antonio Residential Sellers
“If sellers get their home move-in ready, with all necessary repairs done and have their house properly staged, they can expect multiple offers, with some even over asking price,” said Hasslocher. “In this environment, sellers need to be able to determine which offer is best for their specific situation. For example, for some sellers, a cash offer may be a better choice, even though it’s $10,000 less than the highest offer.”
Last December, Realtor.com released its annual residential forecast report, which offers a snapshot of housing markets in the 100 biggest cities in the U.S. Along with providing homebuying trends, it ranks the metros according to three key criteria (combined year-to-year sales and price change and standalone year-to-year sales change and year-to-year price change). For 2022 the website ranked the San Antonio-New Braunfels area at No. 66 among the top 100, ranking it above both Austin-Round Rock (No. 72) and Houston-The Woodlands-Sugar Land (No. 80).
Heading into 2022, Realtor.com predicts the Alamo City will see an 8.6 percent increase in both combined growth in home sales and listing prices. In 2021, a total of 340,858 residential properties sold in San Antonio, with a median price of $286,200.
“San Antonio will continue to be one of the most desirable places in the country to live,” said Hasslocher. “We have so much to offer culturally and economically. We will continue to see population growth here as we attract new residents from different parts of the county.
She noted that San Antonio has multiple thriving sectors of its economy, including the military, the medical community, and all of the educational opportunities for university students.
“San Antonio has been called the hidden gem, but now people are discovering it, and it’s not so hidden,” Hasslocher said.
Hasslocher has specific advice for anyone who is looking to buy or sell a home. “You need to find the right REALTOR® for you. Outline your priorities and conduct interviews with multiple REALTORS® to find someone who is a good fit with your style and personality, and who communicates the same way you like to communicate, whether it’s by phone or text,” she explained. “Buying or selling a home is such an emotional process, and it’s one of the biggest, if not the biggest, transactions you will make. You have to feel good about the person guiding you through the process.” She noted that good sources for REALTOR® recommendations are people that you trust, REALTOR® website reviews, and even your lender.
Hasslocher recommends that San Antonio buyers and sellers consider working with a REALTOR®, as opposed to working with a real estate agent. This is because all REALTORS® are members of the National Association of REALTORS® and the San Antonio Board of REALTORS®. They must adhere to a specific code of ethics and have sworn to uphold certain professional standards.
Overall in 2022, Hasslocher predicts the San Antonio real estate market will remain steady. “As families continue to move here from more expensive parts of the country, they think this is an affordable city in which to buy a home.”
