San Antonio Retail Benefits from Home Sale Spike
According to the San Antonio Board of Realtors®, San Antonio and the surrounding areas experienced a 27 percent rise in home sales year-over-year for the second month in a row. Home sales have continued to outpace last year and inventory still remains low at just 1.3 months available.
The home sales price in May averaged $341,853 with a median price of $282,400. Comparatively, the average price throughout all of Texas was $388,261, which is 31.7 percent higher than May 2020.
San Antonio has a metro area population of approximately 2.5 million people, making it the sixth largest U.S. city. It continues to attract new residents per year, growing by at least 2 percent during the last four years. As a result, retail such as car wash operations or redeveloped ventures would be positioned to take advantage of San Antonio’s existing stability and continual growth.
As the 17th most visited U.S. city and the most visited Texas city, the city offers tourist sites such as the San Antonio Zoo, The Alamo and San Pedro Park. Additionally, downtown’s River Walk connects various parks, museums, theaters, shops, restaurants and Mission Espada, one of the city’s five Spanish colonial missions.