Homes in Luxury Neighborhoods the Object of Desire for Home Shoppers

Home values in the most-favorited neighborhoods reached as high as six times greater than in their overall metro areas

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Feb 12, 2019, 08:00 ET

SEATTLE, Feb. 12, 2019 /PRNewswire/ -- According to a Zillow® analysis, home shoppers desire homes in some of the most luxurious neighborhoods in the country.

Just ahead of Valentine's Day, Zillow analyzed which neighborhoods in major metro areas have the most-loved homes, based on the number of favorites per homeⁱ. Favoriting a home on Zillow is a way for shoppers to save homes they're interested in, making it easy to show a friend, partner or real estate agent.

The most swooned-over areas are luxury neighborhoods, popular vacation or retirement communities, and up-and-coming urban locales that offer potential investment opportunities.

Topping the list are The Oaks, a star-studded neighborhood near Los Angeles in Calabasas, Lake Nona Estates, a golfing community in Orlando, and Kingswood, located in Atlanta's affluent Buckhead district. Home values in each of these neighborhoods are at least three times greater than in their overall metro areas.

"The heart moves in mysterious ways – in real estate as often as in love. But in both love and real estate, there are some common patterns. The homes that Zillow shoppers have loved the most over the past year cluster into the beautiful, the fun, and the expensive," said Zillow senior economist Aaron Terrazas. "Inventory is starting to recover, but home shoppers still have to decide between the must-haves and the extras that they are willing to do without. Shoppers may gravitate toward fantasy homes and neighborhoods initially, but most often decide on homes in more affordable communities with good access to transit and jobs, as evidenced by home prices growing fastest in these types of areas."

A well-presented home for sale draws the eyes of home shoppers, so sellers should follow the hearts as well. A previous Zillow analysis found that homes with more favorites sell faster and for more money. Homes across the U.S. that receive 30 or more favorites within their first week of hitting the market typically sell in under two weeksⁱⁱ, with more than 40 percent selling above list price. Sellers can check their Owner Dashboard to track how many people have favorited their home.

These are the most-favorited neighborhoods in each of the nation's 35 largest metros:

Metro	Neighborhood	City	Median Home Value in Metro Areaⁱⁱⁱ	Median Home Value in Neighborhood	% above Metro Home Value	$ above Metro Home Value
New York, NY	Riverdale	New York, NY	$437,300	$952,300	118%	$515,000
Los Angeles- Long Beach- Anaheim, CA	The Oaks	Calabasas, CA	$650,200	$3,030,600	366%	$2,380,400
Chicago, IL	Lincoln Park	Kenosha, WI	$224,200	$462,200	106%	$238,000
Dallas-Fort Worth, TX	Las Mariposas	Garland, TX	$240,200	N/A	N/A	N/A
Philadelphia, PA	Manayunk	Philadelphia, PA	$231,800	$225,200	-3%	-$6,600
Houston, TX	Downtown	Houston, TX	$204,300	$305,400	49%	$101,100
Washington, DC	Langston	Washington, DC	$404,100	$531,800	32%	$127,700
Miami-Fort Lauderdale, FL	Pineapple Park - Ibis	West Palm Beach, FL	$282,700	$464,300	64%	$181,600
Atlanta, GA	Kingswood	Atlanta, GA	$216,600	$1,589,700	634%	$1,373,100
Boston, MA	Ellisville	Plymouth, MA	$463,600	$417,700	-10%	-$45,900
San Francisco, CA	West Sherman Acres	Pleasant Hill, CA	$962,300	$653,900	-32%	-$308,400
Detroit, MI	Palmer Woods	Detroit, MI	$159,400	N/A	N/A	N/A
Riverside, CA	Escena	Palm Springs, CA	$365,400	N/A	N/A	N/A
Phoenix, AZ	The Gardens	Gilbert, AZ	$263,200	$231,400	-12%	-$31,800
Seattle, WA	North Creek	Bothell, WA	$488,400	$632,600	30%	$144,200
Minneapolis- St Paul, MN	Mckinley	Minneapolis, MN	$266,000	$152,800	-43%	-$113,200
San Diego, CA	South Beach	Carlsbad, CA	$592,700	N/A	N/A	N/A
St. Louis, MO	Tiffany	Saint Louis, MO	$166,500	N/A	N/A	N/A
Tampa, FL	Bartlett Park	Saint Petersburg, FL	$212,900	N/A	N/A	N/A
Baltimore, MD	Garwyn Oaks	Baltimore, MD	$267,600	N/A	N/A	N/A
Denver, CO	Jefferson Park	Denver, CO	$403,600	$534,900	33%	$131,300
Pittsburgh, PA	Southside Flats	Pittsburgh, PA	$143,800	$210,300	46%	$66,500
Portland, OR	Forest Park - Linnton	Portland, OR	$395,700	$540,000	36%	$144,300
Charlotte, NC	First Ward	Charlotte, NC	$205,100	$292,400	43%	$87,300
Sacramento, CA	Old North Sacramento	Sacramento, CA	$406,900	$216,200	-47%	-$190,700
San Antonio, TX	Maverick Creek	San Antonio, TX	$191,800	N/A	N/A	N/A
Orlando, FL	Lake Nona Estates	Orlando, FL	$235,300	$1,485,600	531%	$1,250,300
Cincinnati, OH	Linwood	Cincinnati, OH	$167,700	$197,800	18%	$30,100
Cleveland, OH	Boulevard	Shaker Heights, OH	$145,000	$363,800	151%	$218,800
Kansas City, MO	Timberland Creek	Overland Park, KS	$190,500	N/A	N/A	N/A
Las Vegas, NV	Midway	Henderson, NV	$278,000	$254,000	-9%	-$24,000
Columbus, OH	Southern Orchards	Columbus, OH	$188,400	N/A	N/A	N/A
Indianapolis, IN	Mapleton-Fall Creek	Indianapolis, IN	$162,700	N/A	N/A	N/A
San Jose, CA	Downtown North	Palo Alto, CA	$1,253,500	$2,699,400	115%	$1,445,900
Austin, TX	Downtown	Austin, TX	$306,600	$424,700	39%	$118,100

Zillow
Zillow is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with great real estate professionals. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow Group's Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Launched in 2006, Zillow is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG), and headquartered in Seattle.

Zillow is a registered trademark of Zillow, Inc.

ⁱ In each neighborhood, Zillow measured the number of saved homes in each neighborhood per the number of homes with an available Zestimate. This analysis was limited to neighborhoods with 200 Zestimates or more.
ⁱⁱ Time to sell in this analysis refers to the time it takes for the seller to accept an offer – time to go pending.
ⁱⁱⁱ As of December 2018 using the Zillow Home Value Index, a smoothed, seasonally adjusted measure of the median estimated home value in a given region.

SOURCE Zillow