Condo prices rising faster than home prices in San Antonio
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Condos are having a moment in San Antonio.
Driving the news: San Antonio metro condo prices rose faster than those of single-family homes, per the latest Zillow data, Axios' Sami Sparber reports.
By the numbers: In May, the typical San Antonio condo sold for $235,000, up 30.6% compared with last year.
- A typical single-family home here cost about $319,000, down 5.6% year over year.
The big picture: More buyers have turned to condos and townhouses as housing costs surge, Realtor.com analyst Hannah Jones tells Axios.
- Across the U.S., that segment's prices are now climbing at a faster clip than single-family homes, the real estate company's data shows.
Why it matters: Condos' growing appeal comes as younger buyers look for more affordable homes and empty-nesters want to downsize to a maintenance-free lifestyle, real estate experts say.
Be smart: Homeowners association fees, which vary from building to building, factor into the cost of owning a condo.