What a Difference a Year Makes in the 78209 Real Estate Market! There are more homes on the market, and it’s taking longer to sell them. Despite this, demand for existing houses in ‘09 remains strong.
78209 Homes Remain in Demand
Data from the San Antonio Board of Realtors (SABOR) reveals a 58% increase in the median home price in ‘09, from $338,250 in September 2023 to $535,000 in September 2024. The average price didn’t change as dramatically, but it still gained 11%, rising from $496,114 to $551,230. Closed listings in September 2024 spiked to 41 closings compared to 28 the previous September.
Higher Prices but Longer Selling Times
Although prices are strong, it’s taking longer to sell existing homes. Days on Market averaged 50 days this past September, up from 40 days a year ago—a 25% increase, reflecting a broader industry trend.
Year over year, the months of inventory (the time it would take to sell all current homes on the market if no new listings were added at the current sales pace) rose to 6 months from 4.5 months in September 2023. Most real estate experts agree this reflects a balanced market. Sellers can achieve top-market pricing for premium or unique properties, while buyers find more room to negotiate on many listings. In September 2024 for 78209, the final sales price averaged 91.7% of the original listing price.
Country Club to Convert Lots into Parking
At the October Alamo Heights City Council meeting, the San Antonio Country Club (SACC) received approval to convert its properties on Burr Rd into parking. SACC currently owns a parking lot at the north corner of Burr Rd and N. New Braunfels. The council granted SACC permission to demolish a vacant residential duplex at 151 Burr Rd, located next to its existing parking lot. The council also approved a request to rezone 151 Burr Rd, along with SACC-owned lots at 149, 141, and 137 Burr Rd, from Multi-Family District (MF-D) to Parking (P). This will create an additional 30,000 square feet of parking designated for SACC employees. Several intersection safety improvements are planned for the N. New Braunfels and Burr Rd intersection, including crosswalks with pedestrian signals, and eliminating current SACC employee parking along Burr Rd.
The Bexar County Appraisal District values 151 Burr Rd at $415,000 and the 149, 141, and 137 Burr Rd properties at $315,000 each.
