2008 saw inventory increase nearly 20% from 2007. Sales were down about 15% for the year. Properties located on the north side of town, inside of Loop 410 and 1604 are still experiencing strong to moderate demand. Outside of loop 1604 is a different story as unstable gas prices, traffic congestion and the prospect of new toll roads are prompting some to purchase older properties in central locations like Alamo Heights. These people are however trading the modern features of newer construction for the advantage of location and shorter commutes. Prices are mostly stable but the glut of inventory in the higher price tiers have made them a target for low ball offers. The relocation of 700 of ATT's top executives to Dallas is adding to the already top heavy inventory in the above $400k sector. The actual number of families accepting the relocation to Dallas is closer to 450 as approximately 250 have elected to stay in the Alamo City. Interest rates are approaching historic lows. The recent turmoil in the financial markets is creating uncertainty for those whose jobs are not secure. This has created some great opportunities for the buyer!
I cannot overstate the value of an experienced Broker in this market.
You can view all of the homes listed for sale in AH at www.AlamoHeightsHomes.net or call for an update.
David Bowman 210-325-9972 "Let's get a move on"
ZIP Code: 78209 Location Characteristics: Alamo Heights can trace its historical roots prior to 1900 and developed as a suburb located just North of San Antonio (today's downtown). Though AH has since been surrounded by SA's urban sprawl, it maintains it's unique identity and charm. Neighborhoods run the gamut from modest, to modern to historical. Shopping is anchored by the Alamo Quarry Market which features fine dining, movies and specialty shops. The golf enthusiast will not be disappointed by the Quarry Golf Course which features many challenges on the course as well as professional instruction. The schools in AH have historically led the way in education in greater SA. This has attracted many new families and enticed multi-generational families to remain rooted to the area. Alamo Heights is the clear leader in demand for the greater metro area. Land costs here are second to none. As a result property updating and renovations are prevalent. The city's convenient location to the downtown employment center coupled with AHISD's perennial academic acheivement forms the basis for this prospering real estate sub market.
