In San Antonio, condo and townhouse sales grew by 18 percent the first five months of 2014, compared to the same timeframe in 2013, according to a new study.
Though the growth seems like a lot, the Alamo City still lags behind considerably from Texas’ other major markets: Houston, Dallas and Austin.
From January to May, buyers in San Antonio have closed on 271 condos. During the same time period, 2,678 condos were sold in Houston, 2,383 condos in Dallas and 1,349 condos in Austin.
The increase in sales statewide can be attributed to relaxed loan requirements, a renewed interest in urban cores and affordability of condos compared to single family homes, said Jim Gaines, an economist with the Real Estate Center at Texas A&M University, which analyzed data from Houston, Dallas, Austin and San Antonio for the report.