San Antonio Express-News (Sunday)
4 ZIP codes in S.A., New Braunfels among ‘hottest neighborhoods’
Opendoor says booming area still offers ‘hidden gem’ appeal
Opendoor ranked four local ZIP codes among the nation’s 20 hottest neighborhoods in the first six months of 2022.
The 78130 ZIP code in New Braunfels came in fourth, and on San Antonio’s far West Side, 78253, 78245 and 78254 ranked 11th, 16th and 18th, respectively.
Both areas are booming with an influx of newcomers, housing construction and stores.
Housing costs in San Antonio are more affordable than in Texas’ other major metropolitan areas, and it is adding jobs, Opendoor said.
“While no longer flying under the radar, San Antonio still offers that ‘hidden gem’ appeal when it comes to price point,” the San Francisco-based company said.
The median price of a home in the San Antonio area reached a record $348,800 in May, according to the San Antonio Board of Realtors.
Last month, the median price was $550,000 in the Austin area, $351,000 in the Houston area, and $438,000 in the Dallas-Fort Worth area.
Most of the ZIP codes on Opendoor’s list were in warmweather areas, and half were in Texas.
ZIP codes in Leander, Katy, Forney, Cypress and Aubrey were included. The top three were 37042 in Clarksville, Tenn.; 34747 in Celebration, Fla.; and 73099 in Yukon, Okla.
Opendoor determined its ranking by analyzing data from the local multiple listing services where the company’s brokerage arm operates. ZIP codes were ranked by the number of homes that went under contract within 90 days of being listed this year.
Opendoor is an ibuyer — a technology company that uses algorithms to make rapid offers and resell homes.
Its pitch to sellers: They can skip repairing their home and hiring a real estate agent. The company takes a commission, spruces up the home and resells it.
Homes in Floresville
National homebuilder Lennar is working on its first community in Floresville, a small city about 30 miles southeast of San Antonio.
The Florida-based company is building 94 homes at U.S. Highway 181 North and County Road 130, next to Walmart and CVS stores.
Homes will include “generous” living rooms and kitchens and “resort-style master suites,” Lennar said. Residents of the community, called Lodi Grove, will have access to a linear park and walking trails.
The company has not announced pricing for Lodi Grove, which is expected to open in summer 2023.
“Floresville is growing quickly, particularly among young residents wanting proximity to San
Antonio but without the urban congestion,” said Brian Barron, San Antonio division president at Lennar. “That has amplified the need for affordable homes in an area that has very little new home construction.”
Floresville’s population rose about 11.7 percent from April 1, 2010, to April 1, 2020, increasing from 6,448 to 7,203 people, according to census data.
The city is in Wilson County, where the population jumped 15.9 percent to 49,753 people
during that period.
Rents continue rising
San Antonio rents rose 1 percent in June, the sixth straight month of increases, according to Apartment List.
Rents are up by 13.8 percent from a year ago and by 20.9 percent since the beginning of the coronavirus pandemic in March 2020.
The median rent last month was $1,061 for a one-bedroom apartment and $1,311 for a twobedroom apartment.
But San Antonio remains more affordable than many other metropolitan areas in Texas and across the U.S., Apartment List noted.
The median rent for a twobedroom apartment here is just under the national average of $1,339.
Year-over-year rent growth is just behind the state average of 14 percent and the national average of 14.1 percent. Increases in Austin, Dallas and Laredo were above the state average.
Across Texas, rents are highest in Plano, where the median rent for a two-bedroom is $1,964.