San Antonio among top 10 most popular places to move, driving home prices up, according to Redfin

San Antonio was one of many prime 10 migration locations in 2021 and the out-of-town consumers helped drive house costs up, in response to Actual Property firm Redfin.

The Alamo Metropolis ranked No. 10 on Redfin’s list that mixed Redfin house search knowledge with U.S Census Bureau knowledge.

Phoenix was the preferred migration vacation spot final 12 months, gaining roughly 85,000 residents from different metro areas. It’s estimated that San Antonio introduced in practically 24,000 residents from different locations.

Half of the cities on the listing had a median home-sale value under December’s nationwide median value of $383,000.

Whereas San Antonio’s median house costs skyrocketed over $300,000 for the primary time in 2021, December’s median of $308,600 right here was nonetheless the bottom median value of any metropolis on the listing and the one Texas metropolis on the listing with a median value under the nationwide median.

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Dallas and Austin additionally made the migration vacation spot listing, at No. 2 and No. 6, respectively.

What all of the cities on the listing had in widespread although was home-price progress that was nicely above the nationwide progress fee of 15% year-over-year.

San Antonio’s 18.7% year-over-year progress was the bottom on that listing — Austin was the very best at 30.3%.

(Supply:
Redfin)
Metro Space Web influx Median Dwelling Value Median Dwelling Value
12 months-Over-12 months
Common Month-to-month Lease Fee,
New Leases
Common Month-to-month Lease Fee,
New Leases,
12 months-Over-12 months
Variety of Properties for Sale,
12 months-Over-12 months
1 Phoenix, AZ 85,183 $435,200 28% $2,107 26% -18.6%
2 Dallas, TX 56,449 $385,000 20.3% $2,081 28.5% -27.6%
3 Orlando, FL 52,621 $356,000 22.8% $2,050 28.8% -29%
4 Atlanta, GA 37,970 $350,000 22.8% $2,016 12.1% -27.4%
5 Tampa, FL 37,440 $338,000 24.3% $2,076 28.1% -8%
6 Austin, TX 32,184 $482,100 30.3% $2,290 39.9% -6.5%
7 Las Vegas, NV 31,701 $399,400 24.8% $1,820 25.2% 27.7%
8 Charlotte, NC 28,546 $357,000 20.4% $1,730 11.5% -31.4%
9 Denver, CO 25,665 $540,000 19.5% $2,661 19% -26.8%
10 San Antonio, TX 23,909 $308,600 18.7% $1,386 11.5% -17.8%

In keeping with Redfin, the migration helps gas the speedy value progress in these markets, as a result of most often they’d a price range that was increased than the typical native resident’s price range.

Redfin cited Austin for instance of this. Whereas the town’s median house value of $482,100 is excessive by Texas requirements, the typical price range for migrants transferring to the town was $855,000. That’s 32% increased than the typical Austin price range, Redfin stated.

“Shifting throughout the nation is now simpler for a lot of Individuals, because of distant work. That cultural shift is right here to remain,” stated Redfin Deputy Chief Economist Taylor Marr in a press launch. “What’s altering is the affordability of the preferred locations. Some locals, significantly renters who aren’t capable of make the most of rising house values, are getting priced out of locations like Phoenix and Austin as the price of housing and different items and providers go up. New development tends to be strong in sprawling Solar Belt cities, and native governments must proceed to prioritize constructing new houses to maintain up with ongoing demand.”

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