Yesterday we told you how California came back from the dead.It’s a particularly impressive story given how busted California’s housing market got became.
Parts of it still are (three major cities filed for bankruptcy last year alone).
But housing is a local story. And California is pretty big.
So even as weaknesses persist in the state’s hardest-hit areas, some cities have recently come roaring back. San Francisco (green line) and Los Angeles (red line) have both seen their home price rise faster than the national average, as measured by the Case-Shiller’s 20-city index (blue line).
The real estate services site Redfin recently polled its agents on which neighborhoods or cities would be the most up-and-coming in 2013.
Of the cities nominated, Redfin ranked them considering three categories: change in on-market listings, sales volume, and median price per square foot. This yielded a list of 10 neighborhoods set to break out this year.
Eight were in California.
We compiled Redfin’s stats and detailed a representitive aspect of each neighbourhood’s attraction in the following presentation.
Listings: -54 per cent
Sales volume: +44 per cent
Price: +11 per cent
Comment: Eagle Rock is home to Occidental College, a private school that has weathered the state's education budget crunch and seen steadily increasing enrollment.
Listings: -29 per cent
Sales volume: +17 per cent
Price: +80 per cent
Comment: The Mission boasts San Francisco's most popular and longest-running arthouse movie theatre, The Roxie.
Listings: -64 per cent
Sales volume: +31 per cent
Price: +17 per cent
Comment: Glassell Park is home to local artists like Justin Stadel, whose amusing, giant cutouts of famous Hollywood cowboys have been featured on numerous occasions in the LATimes.
Listings: -60 per cent
Sales volume: +9 per cent
Price: +32 per cent
Comment: The Mercury News recently praised Willow Glen's new, $20-million town centre, which replaced a liquor store and parking lot, as 'thoughtful development.'
Listings: -71 per cent
Sales volume: +13 per cent
Price: +20 per cent
Comment: Livermore hosts one of the largest Hindu populations in the Bay Area.
Listings: -63 per cent
Sales volume: +17 per cent
Price: +29 per cent
Comment: Bikram Yoga's world headquarters is located in Faircrest Heights.
Listings: -69 per cent
Sales volume: +48 per cent
Price: +21 per cent
Comment: The neighbourhood inaugurated a beer festival in August.
Listings: -48 per cent
Sales volume: +73 per cent
Price: +31 per cent
Comment: The LATimes recently named York Boulevard 'a hub of hip.' The New York Times also seems to have been on top of the 'Highland-Park-is-the-next-Williamsburg' angle as early as 2009.
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