San Antonio's luxury homes remain affordable by U.S. standards

Madalyn Mendoza

Illustration of a welcome mat that is a one-hundred dollar bill. — Illustration: Maura Losch/Axios

San Antonio is one of only five major U.S. metros where a typical luxury home still sells for less than $1 million, according to a new Redfin analysis.

Why it matters: The Alamo City is becoming increasingly rare as an affordable luxury housing market. Last year, there were eight major metros where the typical luxury home sold for under $1 million.

How it works: Luxury homes are defined in the report as those estimated to be in the top 5% of a metro area's price range, based on prices of homes sold over a rolling 12-month period.

Zoom in: The median sale price for a luxury home in San Antonio was $968,344 during the three months ending in May.

That's up 5.1% from a year earlier — a slightly faster pace than the national luxury market, where prices rose 4.7%.

Zoom out: San Antonio ranks as the nation's fifth most affordable major metro for luxury homes, behind:

Detroit ($719,252)
Cleveland ($833,228)
Pittsburgh ($904,202)
Cincinnati ($952,523)

The big picture: The typical luxury home now sells for $1.37 million nationally.

San Francisco is the nation's most expensive luxury housing market, where the median luxury home sold for more than $6.6 million.

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San Antonio's luxury homes remain affordable by U.S. standards

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