During the first half of 2008 the inventory was nearly 20% higher than the same period of 2007. Sales are down about 10%. Prices are holding steady but are down about 3% over the last 12 months. The faltering national market is the main contributor to our slow down as the local economy is in excellent shape. Interest rates have fluctuated wildly lately but have averaged around 6.25% for a conforming 30 year fixed rate. The announced relocation of 700 top executives at ATT to Dallas from SA will likely magnify the current buyers market in AH as many of them live here. The bottom line is that it's a great time to buy a home in Alamo Heights!
My call for AH: The current opportunity for a buyer's market will last into the summer of 2009. Prices will be flat and may even decline slightly. The upper price tier has more exposure and will likely see price declines.
I cannot overstate the importance of having an experienced Broker to represent you when purchasing 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.
