San Antonio Neighborhoods Still Experiencing a Healthy Housing Market
By Grace on Sep 2, 2008 in San Antonio
This past year has been good to many communities throughout San Antonio. As of July 2008, the neighborhoods of Stone Oak, the Dominion, Colonies North, Olympia and Olmos Park all posted the highest appreciation among San Antonio neighborhoods as compared to the same time one year ago.
Location, Location, Location
Most of these neighborhoods had one thing in common: they are close to major highways and the downtown San Antonio area. It appears that San Antonio buyers are also searching for convenient access to shopping and services.
Stone Oak, for example, saw the highest appreciation rate among those neighborhoods listed, with the average sales prices increasing by 29 percent, from $194,325 to $250,659.
A city in itself, Stone Oak is a master planned community with its own services, schools, churches and offices. A new Methodist Hospital is also currently under construction.
Stone Oak boasts many shopping areas and business parks, including the Village at Stone Oak, Rolling Oaks Mall, The Shops at La Cantera, The Rim and Northwoods. The Shops at La Cantera include many, high-end retailers, such as Dillards, Neiman Marcus and Macy’s.
Buyers Looking for a Peaceful Respite
Olmos Park appears to attract buyers to its stately, old homes, and peaceful neighborhoods of mature trees and stunning landscaping. Olmos Park homes range anywhere from 50 to 85 years old. Sales prices in Olmos Park saw a 5.4 percent increase since June 2007.
Luxury Still Remains Popular
Perhaps the most luxurious neighborhood on this list, The Dominion, also experienced a 12.2 percent increase in its average sales price, from $820,019 to $920,261. Buyers seem to be attracted to the luxurious lifestyle that The Dominion offers, including its top-rated golf course and country club, and its close proximity to the massive retail developments of The Rim and La Cantera. The growth of the Medical Center may also be another reason for The Dominion’s increased popularity.
Colonies North posted an average sales price increase of 8.6 percent, from $141,740 to $153,890. This is likely due to the popularity of house flipping in this area.
