Team Leader: Tyson Cline says luxury real estate market in Texas still booming

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Over the past few months, several REALTORS® have told me the current real estate market is unlike any they’ve seen before. In many cities, low inventory, bidding wars, and soaring home prices have become the norm. No one knows exactly how long this will continue, but many in the industry say they see signs that this trend may soon be over. According to the latest data from the San Antonio Board of REALTORS®, a total of 4,024 homes were sold in San Antonio and the surrounding areas in June compared to 3,885 in July. While there was a slight dip in home sales, Realtor Tyson Cline, who represents luxury clients in San Antonio, Houston, and The Woodlands, said these markets remain hot. 

Cline is the founder and team leader of The Group, a premier luxury real estate team with Real Brokerage. He’s no stranger to the industry, the Louisiana native’s family has been owning a residential and commercial construction company for 40+ years. The former residential mortgage lender began selling real estate in 2014. He holds several designations including, Certified Luxury Home Marketing Specialist, Certified Home Marketing Specialist, and Texas Realtors Leadership Program. Tyson recently shared his thoughts on the current luxury real estate market in San Antonio, which he said starts at $600,000. 

Q. What’s happening in the luxury real estate market? 


A: In the latter part of April, into May, and June, inventory levels started to climb across North America. This offset multiple bid situations and allowed some markets to begin achieving greater stability and a more normal pace in the buying and selling process. Make no mistake, the luxury real estate market is still a seller’s market. However, the intensity of demand is expected to decrease, which will result in a gradual but ongoing shift toward a more typical pace. 

Q: Are inventory levels similar in all price ranges? 

A: No, we have less inventory in non-luxury price bands. For example, The Dominion has 4+ months of inventory on hand for homes priced between $600 -800k. compared to other San Antonio neighborhoods where inventory is < 2.5 months. 

Q: Where are most of the homebuyers coming from? 

A: Most of the buyers are coming from California, New York, and Mexico. We also work with buyers relocating from the Houston area as well. 

Q: What design features are buyers requesting?

A: COVID created a huge focus on how homes were built, valued and what the homeowners determined they needed in their homes. So, we started seeing new designs begin to pivot dramatically toward integrated home environments where people can live, work, and play. It’s more of a balanced lifestyle that provides solutions for indoor and outdoor living. Design and functionality primarily focused on having a flex space, more square footage, more outdoor space, additional rooms, and fast data connectivity. Some engineering features include ambient HVAC solutions, water filtration systems and home automation. 

Q: Which areas in San Antonio seem to be the most popular? 

A: Alamo Heights, Terrell Hills, and Olmos Park. These areas have been attracting affluent buyers for years and continues to meet the needs of most families. 

Q: Are your clients purchasing investment properties, too? 

A: Yes, I have clients that are purchasing fix/flip and Airbnb investment properties in Houston, San Antonio, and The Woodlands. 

Q: Where are people buying vacations homes? 

A: There is a lot of activity in the Galveston area. The affluent are buying resort-style property for family travel and enjoyment. During peak seasonal times, some use their property as short-term rentals to generate additional income. 

Q: Do most of your clients prefer to build, or do they want to buy an existing home?

A: Right now, people just want homes. We’re seeing a little bit of both. For people who are relocating from outside of the area, if they can come in and find a property that fits their requirements, they’ll purchase it. Otherwise, they lease a property and consider building. The market is just as competitive for building as it is for resale. 

For more information about The Group, call 210-799- 5858 or visit http://www.clineluxury.com/

Lisa.harrison@express-news.net 
 

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