Press Releases

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

Feb 12, 2019

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

For further information: Alex Lacter, Zillow, press@zillow.com