Redfin Names the Real Estate Neighborhoods To Watch In 2013
Forty-eight Emerging Neighborhoods in 16 Major Metropolitan Areas Expected to have the Largest Price Increases this Year
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. Eight 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 |
|
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.
SOURCE Redfin Corporation
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