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SEATTLE, Jan. 14, 2013 /PRNewswire/ — Redfin (www.redfin.com), the technology-powered real estate broker, today announced a list of the hottest emerging neighborhoods and small cities for real estate in 16 cities across the country. The ranking was based on input from Redfin real estate agents and analysis of current data in the number of homes for sale, sales volume, home prices, and sales to list price ratios. Seven of the top 10 were in California.
(Photo: http://photos.prnewswire.com/prnh/20130114/SF41710)
Most analysts now agree that 2012 was the bottom for the housing market, and 2013 is likely to usher in further gains in both home prices and sales. This analysis identifies areas on the upswing that have not yet peaked, where there is still good value and plenty opportunity for growth.
“The housing market may be recovering nationwide, but the reality on the ground is sometimes more complicated than that,” said Redfin CEO Glenn Kelman. “For 16 markets across the country, Redfin’s local real estate agents collaborated with our analytics team to identify the neighborhoods where we expect prices to rise the most this year, based on activity from about 10,000 active homebuyers, and data from more than 130,000 listings. The results surprised us: the hottest neighborhoods aren’t the well-known bastions of privilege. They’re once-gritty urban areas and far-flung suburbs with school districts on the rise. This is the surest sign that the recovery is broadening, and that home-buyers are venturing out to once-marginal areas hit hard when the bubble burst.”
Following are the top 10 hottest neighborhoods across the U.S., comparing December 2011 data with December 2012. Full post with photos and agent insights: http://blog.redfin.com/?p=10410.
Market
Neighborhood / City
Inventory
Sales Volume
Median Sales Price
Sale-to-List
Price Increase
Los Angeles
Highland Park
-48.0%
72.7%
31.2%
3.3%
San Diego
Mira Mesa
-69.0%
48.2%
20.5%
2.9%
Los Angeles
Faircrest Heights
-62.7%
16.7%
28.9%
3.4%
Los Angeles
Eagle Rock
-53.7%
43.8%
10.6%
11.0%
SF East Bay
Livermore
-71.3%
13.2%
19.5%
3.6%
SF Silicon Valley
Willow Glen
-59.8%
9.1%
31.6%
3.2%
Los Angeles
Glassell Park
-63.5%
30.8%
17.1%
2.1%
Chicago
Logan Square
-10.3%
93.8%
19.6%
18.2%
SF Peninsula
The Mission
-28.6%
16.7%
79.8%
6.1%
Seattle
North Maple Leaf
-44.4%
15.4%
22.2%
3.5%
The top three areas for each market studied:
Atlanta
Denver
Sacramento
Roswell
Uptown
Folsom
Smyrna
Baker
Granite Bay
Suwanee
Montclair
El Dorado Hills
Austin
Los Angeles
San Diego
Rosedale
Highland Park
Mira Mesa
Crestview
Faircrest Heights
San Marcos
Zilker
Eagle Rock
Eastlake
Boston
Philadelphia
East Bay / Silicon Valley
Somerville
Phoenixville
Livermore
Medford
Brewerytown
Willow Glen
Waltham
West Mount Airy
East Dublin
Chicago
Phoenix
San Francisco Peninsula
Logan Square
Windsor Square
The Mission
East Village/Noble Square
Gilbert
Foster City
Fulton Market
Old Town Scottsdale
Belmont
Dallas
Portland
Seattle
Colleyville
Sylvan-West Haven
North Maple Leaf
Lake Highlands
Stoller School, Beaverton
West Bellevue
Castle Hills
Kenton
Bothell
Washington DC Area
Pimmit Hills
Petworth
Fallsmead
About Redfin
Redfin (www.redfin.com) is a technology-powered real estate broker that represents people buying and selling homes. Founded and run by technologists, Redfin has a team of experienced, full-service real estate agents who are advocates, not sales-people, earning customer-satisfaction bonuses, not commissions. Redfin’s online tools feature all the broker-listed homes for sale, as well as for-sale-by-owner properties that don’t pay brokers a commission. The company serves 19 U.S. markets and has closed more than $5 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World’s Most Valuable Private Tech Companies by Business Insider. Follow us on blog.redfin.com, on Twitter @redfin, and Facebook.com/Redfin.
View article:
Redfin Names the Real Estate Neighborhoods To Watch In 2013
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