S.A. hottest hoods accdg to Express News (San Antonio, Spring: sales, mortgages)

[winst0n]

"So far this year, Stone Oak, the Dominion, Colonies North, Olympia and Olmos Park experienced the highest price appreciation from Jan. 1 to June 24, compared to the same period last year, according to the San Antonio Board of Realtors. "

http://www.mysanantonio.com/business/realestate/stories/MYSA071308.7D.Hot_Neighborhoods.2c4a402.html (broken link)

Do you agree?

[banker]

I sold a house in Churchill Forest this past January for full asking price in just five days and now live in Stone Oak. Back 6-9 months ago the same data was showing a dramatic slow down in price appreciation in Stone Oak while areas inside the loop were booming. So I am surprised to see that this trend has been reversed. Now that I live out here in Stone Oak I am surprised to see that prices are up so much. I would be curious to see where this is happening.

[kevcrawford]

Well, the report is based on sold homes, so it should be pretty accurate. There are a few things that it doesn't really cover in there, like rehabs bringing prices down in Terrell Hills or several million dollar sales in Stone Oak skewing things, but overall it's pretty accurate.

[rd2007]

people actually pay a million or more to live in stone oak? Do they give out free crack or something up there?
the first one is a serious question.. there's no way I'd pay even close to a million to live anywhere here in SA and definitely not up there there

[kevcrawford]

There are a few areas in there that have some incredible homes. The Heights at Stone Oak has a few of them in a small area called Estancia. I'm also thinking they might have included Canyon Springs and possibly Champion's Run in there, which have some very high dollar homes.

[DigginHouseVibez]

Originally Posted by rd2007

people actually pay a million or more to live in stone oak?

I was a little shocked by that at first and when I mentioned it to my husband (who does mortgages for a living - respectably!!) he said "1 million dollars is NOT what it used to be".

Makes more sense after hearing that.

[rd2007]

I guess if I had the income to spend a million or more on a house, I would live somewhere else. I realize that isn't what it used to be, but it still is a good chunk of change and stone oak is definitely not San Diego, Monterey, or a beach house in Hawaii.

[smuboy86]

If I had a million, it would be spent in AH, TH or OP not stone oak. Especially for the city services, in those cities you get basically a private police force, and responsive city counsel.

[wCat]

Opinion isn't the issue here. I agree with some of the others, this is based on statistics. As Kevin pointed out, there are a few variables that throw it off a bit, but for the most part, stats don't lie.

Thanks for finding this on MySanAntonio.com. I mentioned this article in another thread, but didn't provide a link. I found it very interesting. The most valuable info is that is showed a number of areas that are still selling HIGHER than this time last year. Albeit the listing time may be a bit longer, but the values are still increasing. I'll be curious how next year's numbers play out if we pull out of this rising gas crisis.

[ashbeeigh]

The Colonies North statistic threw me for a loop, but it all makes sense.

And if I were to buy a million dollar house it would definitely be in Shavano Park, old Shavano Park, not the newer area off of Tradesman.